This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jinpan International Mourns The Death Of Board Member

CARLSTADT, N.J., July 10, 2014 /PRNewswire/ -- Jinpan International Limited (Nasdaq: JST), a leading designer, manufacturer, and distributor of cast resin transformers, regretfully announces the passing of one of its directors, Stephan R. Clark.  Mr. Clark died on June 23, 2014. He had served on the Company's board of directors ("Board") as an independent director since October 2006.  He also served as the Chairman of the Board's Audit Committee.  After his passing, the Board appointed independent director and Audit Committee member Mr. Donald S. Burris to the position of Acting Chairman of the Audit Committee.   

Zhiyuan Li, Chairman of the Board, Chief Executive Officer and President of the Company stated "We extend our deepest sympathies to Steve's beloved wife, Marlene Clark, and to his children and grandchildren. Steve's death is a tragic loss for all of us who considered him a friend.  We are fortunate to have known Steve and he will be truly missed."

As a result of Mr. Clark's death on June 23, 2014, the Company received a written notification from the staff of The Nasdaq OMX Group ("NASDAQ") indicating that since Mr. Clark was an independent director and a member of the Board's Audit Committee, the Company no longer complies with NASDAQ's audit committee requirement of maintaining committee membership by at least three independent directors, as set forth in Listing Rule 5605(c)(4) (the "Rule"). NASDAQ has granted the Company the following cure period to regain compliance with the audit committee membership requirement: (i) until the earlier of the Company's next annual meeting of shareholders or June 23, 2015, or (ii) if the Company's next annual meeting of shareholders is held before December 22, 2014, until December 22, 2014.  The Company is in the process of identifying an independent director to be elected to the Board and who will also be appointed to the Audit Committee in order to regain compliance with the Rule prior to the expiration of the cure period granted by NASDAQ.

About Jinpan International Ltd

Jinpan International Limited (NASDAQ: JST) designs, manufactures, and markets electrical control and distribution equipment used in demanding industrial applications, utility projects, renewable energy installations, and infrastructure projects. Major products include cast resin transformers, VPI transformers and reactors, switchgears, and unit substations. Jinpan serves a wide range of customers in China and reaches international markets as a qualified supplier to leading global industrial electrical equipment manufacturers. Jinpan is one of the largest manufacturers of cast resin transformers in China by production capacity. Jinpan's four manufacturing facilities in China are located in the cities of Haikou, Wuhan, Shanghai and Guilin. The Company was founded in 1993. Its principal executive offices are located in Haikou, Hainan, China and its United States office is based in Carlstadt, New Jersey. For more information, visit

SOURCE Jinpan International Limited

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.26 -0.77%
FB $101.50 2.00%
GOOG $684.03 0.87%
TSLA $163.06 10.00%
YHOO $27.10 1.00%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs