UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
October 14, 2015
SUTOR
TECHNOLOGY GROUP LIMITED
(Exact name of registrant as specified in its charter) |
Nevada |
001-33959 |
87-0578370 |
|
|
|
(State of Incorporation) |
(Commission File No.) |
(IRS Employer ID No.) |
No. 8, Huaye Road
Dongbang Industrial Park
Changshu, China 215534
(Address of Principal Executive Offices)
(86) 512-52680988
Registrant’s Telephone Number, Including
Area Code:
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.01 Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On October 14, 2015, Sutor Technology Group
Limited (the “Company”) received notice from the Listing Qualifications Department of The NASDAQ Stock Market indicating
that, due to the Company’s failure to timely file its annual report on Form 10-K for the fiscal year ended June 30, 2015
(the “Annual Report”), it no longer complies with the NASDAQ Listing Rule 5250(c)(1). The notification letter states
that the Company has 60 calendar days, or until December 14, 2015, to submit a plan to regain compliance and if NASDAQ accepts
the plan, it may grant the Company up to 180 calendar days from the filing due date of the Annual Report, or until April 11, 2016,
to regain compliance. If NASDAQ does not accept the Company’s plan, then the Company will have the opportunity to appeal
that decision to a NASDAQ Hearings Panel.
On October 19, 2015, the Company issued
a press release announcing the receipt of the notice from NASDAQ. A copy of the press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits
Exhibit |
|
Description |
99.1 |
|
Press release dated October 19, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Sutor Technology Group Limited |
|
Date: October 19, 2015 |
|
|
/s/ Lifang Chen |
|
Chief Executive Officer |
|
EXHIBIT INDEX
Exhibit |
|
Description |
99.1 |
|
Press release dated October 19, 2015. |
Exhibit 99.1
Sutor Technology
Group Limited Receives NASDAQ Non-Compliance Letter Due To Delay In Filing Annual Report on Form 10-K
CHANGSHU,
China, Oct.19, 2015 /PRNewswire-FirstCall/ — Sutor Technology Group Limited (the “Company” or
“Sutor”) (Nasdaq: TOR), one of the leading China-based manufacturers and customized service providers for fine
finished steel products used by a variety of downstream applications, today announced that it received a letter from the
Listing Qualifications Department of The NASDAQ Stock Market, on October 14, 2015 (the “Letter”), informing the
Company that it no longer complies with the Nasdaq requirements for continued listing set forth in Nasdaq Listing Rule
5250(c)(1), which requires the timely filing of periodic reports. The non-compliance cited in the Letter was the result
of the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended on June 30, 2015 (the
"10-K”).
The Letter states
in part that the Nasdaq Staff has afforded the Company the opportunity to submit a plan prior to December 14, 2015 that addresses
the details of the Company’s plan to regain compliance with the Nasdaq Listing Rules. The Nasdaq Listing Rules provide that
the Staff can grant the Company an exception of up to 180 calendar days from the filing’s due date, or until April 11, 2016 to
regain compliance if Nasdaq accepts the Company’s plan of compliance.
The Company plans
to file the 10-K or present its plan of compliance to Nasdaq as soon as practicable. However, there is no assurance that the compliance
plan, if it is submitted, will be accepted by the Nasdaq Staff. If the Company’s plan of compliance is not accepted, the Company
would have the opportunity to appeal that decision to a Hearings Panel.
About Sutor Technology Group Ltd
Sutor is one of the leading China-based
manufacturers and customized service providers for high-end fine finished steel products and welded steel pipes used by a variety
of downstream applications. The Company utilizes a variety of in-house developed processes and technologies to convert steel manufactured
by third parties into fine finished steel products, including hot-dip galvanized steel, pre-painted galvanized steel, acid-pickled
steel, cold-rolled steel and welded steel pipe products. The Company also provides
fee-based steel processing services to customers, including industrial peers. To learn more about the Company, please visit http://www.sutorcn.com/en/index.php.
Forward-Looking Statements
This press release includes certain
statements that are not descriptions of historical facts, but are “forward-looking statements” in nature within
the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, those concerning
our expected financial performance, liquidity and strategic and operational plans, our future operating results, our
expectations regarding the market for our products, our expectations regarding the steel market, as well as all assumptions,
expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking
statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual
results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and
uncertainties include, but not limited to, the factors mentioned in the “Risk Factors” section of our Annual
Report on Form 10-K for the year ended June 30, 2014, and other risks mentioned in our other reports filed with the
Securities Exchange Commission (“SEC”). Copies of filings made with the SEC are available through the SEC’s
electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov. The words “believe,”“expect,”“anticipate,”“project,”“targets,”“optimistic,”“intend,”“aim,”“will”
or similar expressions are intended to identify forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does
not intend to update any forward-looking statements, except as required by law.
For more information, please contact:
Investor Relations
Sutor Technology Group Limited
Tel: +86-512-5268-0988
Email: investor_relations@sutorcn.com
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