Form 8-K Sutor Technology Group For: Jul 13

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): July 13, 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))

 

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01 Other Events.

 

On August 8, 2014, the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“NASDAQ”) notified Sutor Technology Group Limited (the “Company”) that it did not comply with NASDAQ Listing Rule 5550(a)(2) (the “Rule”) because its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business. On July 13, 2015, the Company received a letter, dated the same date, from the NASDAQ indicating that by maintaining the closing bid price of its common stock at $1.00 per share or greater for the last 10 consecutive business days, from June 26, 2015 to July 10, 2015, the Company has regained compliance with the Rule and the matter is now closed.

 

On July 14, 2015, the Company issued a press release announcing that it has regained compliance with the NASDAQ’s continued listing requirements. A copy of that press release is attached as Exhibit 99.1 to this Current Report and incorporated herein by reference.

 

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit		Description
99.1		Press release, dated July 14, 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: July 14, 2015
/s/ Lifang Chen
Chief Executive Officer

 

 

 

EXHIBIT INDEX

 

Exhibit		Description
99.1		Press release, dated July 14, 2015

 

 

 

Exhibit 99.1

 

 

 

Sutor Regains Compliance with NASDAQ Minimum Bid Price Requirement

 

CHANGSHU, China, July 14, 2015 -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the leading China-based manufacturers and service providers for fine finished steel products used by a variety of downstream applications, today announced that it has regained compliance with the minimum bid price requirement for continued listing on NASDAQ Capital Market.

 

As previously disclosed, the Company received a notice from the NASDAQ Stock Market on August 8, 2014, indicating that the Company’s common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. On July 13, 2015, the Company received a letter from the NASDAQ Listing Qualifications department stating that because the Company maintained the closing bid price of its common stock at $1.00 per share or greater for the last 10 consecutive business days, from June 26, 2015 to July 10, 2015, they determined that the Company has regained compliance with the minimum bid price requirement.

 

The Company will continue to strive to increase shareholder value. In connection with our transformation and upgrading, we implemented a series of measures to improve our brand value and recognition including changing trading symbol to “TOR” (which stands for “Transformation, Opportunity and Remolding”), launching mobile application for fine finished steel products and completing two new precision cold rolling processing production lines. We believe, as we carry forward strategic measures in the future, we will become a more recognizable fine finished steel supply chain service provider.

 

About Sutor Technology Group Limited

 

Sutor is one of the leading China-based manufacturers and 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: [email protected]

 

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