Under NYSE rules, the Bank must bring the price and the average price of the ordinary ADSs back above $1.00 by six months following receipt of the NYSE’s notice. If the Bank takes an action to cure the deficiency that will require the approval of its ordinary shareholders, the approval must be obtained by no later than the Bank’s next annual meeting of ordinary shareholders, and the condition will be deemed by the NYSE to be cured if the price promptly thereafter exceeds and the average price remains above $1.00 per ordinary ADS for at least the following 30 trading days. Subject to compliance with the NYSE’s other listing requirements during the cure period, the Bank’s ordinary ADSs will continue to be listed and trade on the NYSE, but will be assigned a “.BC” suffix by the NYSE to signify that the Company is not currently in compliance with the NYSE continued listing standards.
If the Bank fails to regain compliance within the required time period, the ordinary ADSs will be subject to NYSE suspension and delisting procedures.
In accordance with NYSE rules, the Bank has notified the NYSE, within the required ten business-day period, of its intention to cure the deficiency.
The Bank’s business operations and Securities and Exchange Commission reporting requirements are not affected by the receipt of the NYSE notice.
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