BEIJING, May 18, 2023
/PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS)
("Cloopen" or the "Company") today announced that it received a
notice from the New York Stock Exchange ("NYSE") regarding the
commencement of delisting proceedings of the Company's American
depositary shares (the "ADSs") on the basis that the ADSs are not
suitable for listing due to the Company's failure to file with the
Securities and Exchange Commission its annual reports on Form 20-F
for the years ended December 31, 2021
and December 31, 2022 and current
report on Form 6-K for the half year ended June 30, 2022 (collectively, the "Delayed
Filings") by May 17, 2023, which is
the maximum time allowed under Section 802.01E of the NYSE's Listed
Company Manual. The NYSE suspended the trading in the ADSs on
May 17, 2023. The Company has until
June 1, 2023 to submit a written
request to appeal the NYSE Regulation staff's delisting
decision.
The Company intends to appeal and will continue to dedicate
significant efforts and resources towards filing the Delayed
Filings as soon as possible, and resume trading of the Company's
ADSs on the NYSE.
Following the trading suspension, the Company understands that
the ADSs will become eligible for trading on the over-the-counter
market in the United States.
About Cloopen Group Holding Limited
Cloopen Group Holding Limited is a leading multi-capability
cloud-based communications solution provider in China offering a full suite of cloud-based
communications solutions, covering communications platform as a
service (CPaaS), cloud-based contact centers (cloud-based CC), and
cloud-based unified communications and collaborations (cloud-based
UC&C). Cloopen's mission
is to enhance the daily
communication experience and operational productivity for enterprises.
Cloopen aspires to drive the transformation of enterprise
communications industry by offering innovative marketing and
operational tactics and SaaS-based tools.
For more information, please visit
https://ir.yuntongxun.com.
Forward-Looking Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Cloopen may also
make written or oral forward-looking statements in its reports
filed with or furnished to the SEC, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Any statements that are not historical facts,
including statements about Cloopen's beliefs and expectations as
well as its financial outlook, are forward-looking statements.
These forward-looking statements are based on Cloopen's current
expectations and involve factors, risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in Cloopen's
filings with the SEC. All information provided in this press
release is current as of the date of the press release, and Cloopen
does not undertake any obligation to update such information,
except as required under applicable law. All forward-looking
statements are qualified in their entirety by this cautionary
statement, and you are cautioned not to place undue reliance on
these forward-looking statements.
For investor
and media inquiries, please contact:
Cloopen Group Holding
Limited
Investor Relations
Email: ir@yuntongxun.com
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SOURCE Cloopen Group Holding Limited