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CDC Corp. (NASD: CHINA), parent company of CDC Global Services, announced today that it received a non-compliance notice from the Nasdaq Stock Market. The notice stated that the company was not in compliance with certain listing rules because the company has not timely filed its annual report on Form 20-F for the fiscal year ended Dec. 31, 2010.
The notification has no immediate effect on the listing or trading of the Hong Kong-based company’s common stock on the Nasdaq Global Market. The company has until Sept. 19 to submit a plan to regain compliance. If the company does so, the Nasdaq can grant the company up to 180 calendar days from the due date of the Form 20-F (or until Jan. 11, 2012) to regain compliance.
The company had filed a notification on July 1 with the Nasdaq that it had not yet completed its audited financial statements for the fiscal year ended Dec. 31, 2010. The company said it intends to comply with the notice. The company’s common stock will continue to be listed on Nasdaq until Sept. 19, 2011, and for any exception period that may be granted to the company by Nasdaq.
The Hong Kong-based firm’s global services division provides information technology services including project management, staffing, business process outsourcing and more.