AgFeed Industries Inc. (fka FEEDQ)

[noahsplay]

News for 'FEED' - (AgFeed Industries, Inc. Announces Voluntary Delisting)


GRAND JUNCTION, Colo., Feb. 1, 2012 /PRNewswire via COMTEX/ -- AgFeed
Industries, Inc. (Nasdaq: FEED, NYSE Alternext: ALHOG) (the "Company") announced
today that it has notified The Nasdaq Stock Market LLC ("Nasdaq") of i! ts intent
to voluntarily delist its common stock from The Nasdaq Global Select Market. The
Company currently anticipates that it will file with the Securities and Exchange
Commission (the "Commission") and Nasdaq a Form 25 relating to the delisting of
its common stock on or about February 10, 2012, on which day there will be no
trading in its common stock. The Company anticipates that the delisting of its
common stock becoming effective on or about February 20, 2012, ten days after
the filing of the Form 25. The Company expects to continue to be under a trading
halt on Nasdaq until the delisting of its common stock becomes effective.

The Company's management current intention is to discuss with the market makers
for its common stock to have its common stock quoted on the OTC Pink tier of the
OTC Markets, but no arrangements have yet been made in that regard. This will
require at least one market maker to quote the Company's common sto! ck on such
quotation service after the market maker complies with t he relevant rules of
such quotation service; there is no assurance that a market maker will comply
with those rules. The Company has not arranged for its shares to be quoted on
any securities exchange. Notwithstanding any of the foregoing, the Company will
remain subject to the periodic reporting requirements of the Securities Exchange
Act of 1934, as amended.

Recently, and after much discussion and deliberation, the Board of Directors
unanimously approved a resolution authorizing the Company to voluntarily delist
from Nasdaq. Material facts related to this important decision include the
ability of the Company to regain compliance with the Nasdaq listing requirements
within the relevant compliance periods, the process of restating certain of its
financial statements and the likelihood of the compliance plan submitted to
Nasdaq being approved.

The Company has previously reported its receipt of notices from Nasdaq
indicating th! at the Company is not in compliance with the minimum bid price
requirement for continued listing on the Nasdaq Global Select Market, set forth
in Nasdaq Marketplace Rule 5450(a)(1), which compliance period expires on April
11, 2012, and with the continued listing requirements under Nasdaq Marketplace
Rule 5250(c)(1), which relates to the Company not yet having filed its Quarterly
Report on Form 10-Q for the period ended September 30, 2011 (the "10-Q") with
the Commission.

As previously reported by the Company in its Notification of Late Filing on Form
12b-25, filed with the Commission on November 10, 2011, the Company was unable
to file the 10-Q within the prescribed period due to the ongoing investigation
of the special committee of the board of directors (the "Special Committee").
While the Special Committee has completed its investigation, the Company is
currently reviewing the findings of the Special Committee. The Company intends!
to file the 10-Q with the Commission as soon as practicable.
About AgFeed Industries, Inc.

AgFeed Industries, Inc. (www.agfeedinc.com) is an international agribusiness
with operations in the U.S. and China. AgFeed has two business lines: animal
nutrition in premix, concentrates and complete feeds and hog production. In the
U.S., AgFeed's hog production unit, M2P2, is a market leader in setting new
standards for production efficiency and productivity. AgFeed believes the
transfer of these processes, procedures and techniques will allow its new
Western-style Chinese hog production units to set new standards for production
in China. China is the world's largest pork market consuming 50% of global
production and over 62% of total protein consumed in China is pork. Hog
production in China currently enjoys income tax free status.

SAFE HARBOR DISCLOSURE NOTICE

The information provided herein contains forward-looking statements based on
certain assumptions and contingencies that involve ris! ks and uncertainties.
These forward-looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and relate to the
Company's ability to file its Quarterly Report on Form 10-Q for the period ended
September 30, 2011 and subsequent periodic reports under the Securities Exchange
Act and decision to voluntarily delist from Nasdaq. The forward-looking
statements in this press release involve risks and uncertainties, which could
cause actual results, performance or trends to differ materially from those
expressed in the forward-looking statements herein or in previous disclosures.
The Company believes that all forward-looking statements made by it have a
reasonable basis, but there can be no assurance that management's expectations,
beliefs or projections as expressed in the forward-looking statements will
actually occur or prove to be correct. In addition to general industry and
! economic conditions, factors that could cause actual results to differ
materially from those discussed in the forward-looking statements in this press
release include, but are not limited to factors that could affect the Company's
business, financial conditions and results of operations included in the
Company's Annual Report on Form 10-K under the caption "Risk Factors," as
updated by the Company's subsequent filings with the Commission, all of which
are available at the Commission's website at http://www.sec.gov. You are
cautioned not to place undue reliance on forward-looking statements, which speak
only as of the date of this press release, even if subsequently made available
by the Company on its website or otherwise. The Company does not intend, and
disclaims any obligation, to update any forward--looking information contained
in this Current Report or with respect to the announcements described herein.

Contact: Investor Relations: The Company's policy is to handle all questions
through its elec! tronic inquiry system; http://www.agfeedinc.com/contact.
Questions submitted through the inquiry system will be answered as soon as
possible.

SOURCE AgFeed Industries, Inc.



www.prnewswire.com


Copyright (C) 2012 PR Newswire. All rights reserved

-0-




KEYWORD: Colorado

China

INDUSTRY KEYWORD: AGR

FIN