QKL Stores Inc. Regains Compliance with NASDAQ Independent Director and Audit
DAQING, China, June 30, 2014
DAQING, China, June 30, 2014 /PRNewswire/ -- QKL Stores Inc. (the "Company")
(Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China,
today announced that on June 26, 2014, it received a letter from The NASDAQ
Stock Market LLC ("NASDAQ") notifying the Company that, as a result of the
appointment of Mr. Cheng Kam Ho on June 25, 2014 to the Company's Board of
Directors and the Audit, Nominating and Corporate Governance, and Compensation
Committees, the Company has regained compliance with the independent director
and audit committee requirements for continued listing on The NASDAQ Capital
Market as set forth in NASDAQ Listing Rules 5605(b)(1) and 5605(c)(2). With
Mr. Cheng's appointment to the Company's Board of Directors as an independent
director, the Company's Board of Directors is again comprised of a majority of
About QKL Stores Inc.:
Based in Daqing, China, QKL Stores, Inc. is a leading regional supermarket
chain company operating in Northeastern China. QKL Stores sells a broad
selection of merchandise, including groceries, fresh food, and non-food items,
through its retail supermarkets, hypermarkets and department stores. The
Company also has its own distribution centers that service its supermarkets.
For more information, please access the Company's website at:
Safe Harbor Statement
Certain statements in this release and other written or oral statements made
by or on behalf of the Company are "forward looking statements" within the
meaning of the federal securities laws. Statements regarding future events and
developments and our future performance, as well as management's expectations,
beliefs, plans, estimates or projections relating to the future, are
forward-looking statements within the meaning of these laws. The forward
looking statements are subject to a number of risks and uncertainties
including market acceptance of the Company's services and projects and the
Company's continued access to capital and other risks and uncertainties. The
actual results the Company achieves may differ materially from those
contemplated by any forward-looking statements due to such risks and
uncertainties. These statements are based on our current expectations and
speak only as of the date of such statements.
QKL Stores, Inc.
Mike Li, Investor Relations
+86-186 6228 1788
SOURCE QKL Stores Inc.
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