Packaging

China Shengda Packaging Regains Compliance with NASDAQ Minimum Bid-Price Requirement

Friday 02. November 2012 - China Shengda Packaging Group Inc. (NASDAQ: CPGI) ("China Shengda Packaging" or the "Company"), a leading Chinese paper packaging manufacturer, today announced that that it has regained compliance with the minimum bid-price requirement of the NASDAQ Stock Market ("NASDAQ") for continued listing of the Company's common stock.

As previously disclosed, the Company received a notice from the NASDAQ on May 7, 2012 that its common stock had 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.
On October 30, 2012, the Company received confirmation from the NASDAQ that it had regained compliance with continued listing standards under Listing Rule 5450(a)(1), after the closing bid-price of the Company’s common stock had been $1.00 per share or greater for the last 10 consecutive business days, i.e., from October 15, 2012 to October 26, 2012.