Sino-Forest common shares to be delisted from TSX for failure to meet continued listing requirements, failure to file interim financial statements on time
April 6, 2012
– Sino-Forest Corporation ("Sino-Forest" or the "Company") (TSX:TRE.TO - News) announced today that the Continued Listings Committee of the Toronto Stock Exchange ("TSX") has determined to delist the Company's common shares effective at the close of market on May 9, 2012.
The delisting was imposed due to Sino-Forest's failure to meet the continued listing requirements of the TSX as a result of the commencement of proceedings under the Companies' Creditors Arrangement Act on March 30, 2012 (the "CCAA Proceedings") and for failure to file on a timely basis its interim financial statements for the three and nine months ended September 30, 2011 and its audited annual financial statements for the year ended December 31, 2011. Sino-Forest continues to be subject to a cease trade order of the Ontario Securities Commission which prohibits trading in the Company's securities.
All inquiries regarding the CCAA Proceedings should be directed to the Monitor, FTI Consulting Canada Inc. via email at: firstname.lastname@example.org, or telephone: (416) 649-8094. Information about the CCAA Proceedings, including copies of all court orders and the Monitor's reports, are available at the Monitor's website http://cfcanada.fticonsulting.com/sfc.
About Sino-Forest Corporation
Sino-Forest Corporation is a leading commercial forest plantation operator in China. Its principal businesses include the ownership and management of tree plantations, the sale of standing timber and wood logs, and the complementary manufacturing of downstream engineered-wood products. Sino-Forest also holds a majority interest in Greenheart Group Limited (HKSE:00094), a Hong-Kong listed investment holding company with assets in Suriname (South America) and New Zealand and involved in sustainable harvesting, processing and sales of its logs and lumber to China and other markets around the world. Until the delisting on May 9, 2012, Sino-Forest's common shares will be listed on the Toronto Stock Exchange under the symbol TRE. Learn more at www.sinoforest.com. Learn more at www.sinoforest.com.