BEIJING, Dec. 24, 2018 /PRNewswire/ -- Link Motion Inc., a
leading smart car and smart ride company, today announced that it
has been notified by the New York Stock Exchange ("NYSE") that the
staff of NYSE Regulation has determined to commence proceedings to
delist the American Depositary Shares (the "ADSs") of Link Motion
Inc. (the "Company") -- ticker symbol LKM -- from the
NYSE. Each ADSs represents five Class A common shares of the
Company. Trading in the Company's ADSs on the NYSE was suspended on
December 20, 2018.
NYSE Regulation has determined that the Company is no longer
suitable for listing based on "abnormally low" price levels,
pursuant to Section 802.01D of the Listed Company Manual. The NYSE
also notified the Company that the NYSE will apply to the SEC to
delist the ADSs upon completion of all applicable procedures,
including any appeal by the Company of the NYSE Regulation staff's
decision.
The Company has a right to request a review of this
determination by a Committee of the Board of Directors of NYSE
Regulation. Link Motion is considering this and other
alternatives open to the Company to act in the interests of the
holders of ADSs and will announce promptly any measures that its
board of directors determines are appropriate.
About Link Motion Inc.
Link Motion Inc. ("Link Motion" or the "Company") (LKM) is a
leading smart car and smart ride company. Link Motion's portfolio
of offerings includes enabling technology solutions and secure
connected carputers for the ecosystem of car businesses, consumer
ride sharing services, as well as legacy mobile security,
productivity and other related applications. For more information
on Link Motion, please visit www.lkmotion.com or the company's U.S.
investor relations site here.
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties. Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
Investor Relations
Link Motion Inc.
Email: investors@lkmotion.com
Phone: +86 10 6452 2017
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SOURCE Link Motion Inc.
