NASDAQ Panel Grants Skystar's Request for Continued Listing on NASDAQ Stock Market

Tue Mar 27, 2012 8:30am EDT

* Reuters is not responsible for the content in this press release.

  XI'AN, CHINA, Mar 27 (MARKET WIRE) -- 
Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the
"Company"), a China-based manufacturer and distributor of veterinary
medicines, vaccines, micro-organisms and feed additives, today announced
that on March 26, 2012 it received a letter from the NASDAQ Listing
Qualifications Panel ("the Panel") informing the Company that the Panel
has determined to grant the request of Skystar to remain listed on The
NASDAQ Stock Market ("NASDAQ"), subject to the condition that by April
28, 2012, Skystar provides evidence that it has held its 2011 annual
shareholder meeting. In the event the Company is unable to hold such
meeting or hold the meeting within the said timeframe, its securities may
be delisted from NASDAQ, in which event the Company would seek to cause
them be quoted in over the counter markets, which may result in a
substantially less liquid market for the securities. 

    As previously disclosed, the Panel's decision follows a hearing held on
March 1, 2012 at which time the Panel was presented with the Company's
plan to regain compliance with NASDAQ's Listing Rule 5620(a) and (b)
relating to the time frame of and proxy solicitation in connection with
annual shareholder meetings.

    To be added to the Company's email distribution for future news releases,
please send your request to skystar@grayling.com. 

    About Skystar Bio-Pharmaceutical Company
 Skystar is a China-based
developer and distributor of veterinary healthcare and medical care
products. Skystar has four product lines (veterinary medicines,
micro-organisms, vaccines and feed additives) and over 284 products.
Skystar has formed strategic sales distribution networks covering 29
provinces throughout China. For additional information, please visit
http://www.skystarbio-pharmaceutical.com. 

    Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
 Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the
use of forward-looking terminology such as "believe," "expect," "may,"
"will," "should," "project," "plan," "seek," "intend," or "anticipate" or
the negative thereof or comparable terminology. Such statements typically
involve risks and uncertainties and may include financial projections or
information regarding the progress of new product development. Actual
results could differ materially from the expectations reflected in such
forward-looking statements as a result of a variety of factors, including
the risks associated with, among many others, the Company's ability to
execute upon a plan of compliance to regain its continued compliance,
holding its 2011 Annual Shareholder meeting in the timeframe prescribed
by the Nasdaq Panel, and maintain the listing of its securities on the
Nasdaq Stock Market, the likelihood of the Company's success in its
appeal before the Panel, the effect of changing economic conditions in
The People's Republic of China, variations in cash flow, reliance on
collaborative retail partners and on new product development, variations
in new product development, risks associated with rapid technological
change, and the potential of introduced or undetected flaws and defects
in products, and other risk factors detailed in reports filed with the
Securities and Exchange Commission from time to time.

    

Contacts:

Skystar Bio-Pharmaceutical Company
Scott Cramer
Director - Corporate Development and U.S. Representative
(407) 645-4433 

Grayling 
Investor Relations
Christopher Chu 
(646) 284-9426
christopher.chu@grayling.com 

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