Tiger Media Receives Notice Confirming Its Compliance with NYSE MKT Standards
SHANGHAI--(BUSINESS WIRE)-- Tiger Media, Inc. ("Tiger Media") (NYSE MKT: IDI) (NYSE MKT: IDI.WS), formerly known as SearchMedia Holdings Limited, one of China's leading multi-platform media companies, today disclosed receipt of a notice from NYSE MKT LLC ("NYSE MKT" or the "Exchange"), dated January 22, 2013 that it had resolved the continued listing deficiencies with respect to Sections 1003(a)(i-iv) of the NYSE MKT Company Guide (the "Company Guide") since it has reported preliminary shareholders' equity above $6,000,000 as of December 31, 2012, and that the Company had demonstrated that it has remedied its financial impairment. The Exchange's determination of compliance was based on the presumption that the Company's audited financial results to be included in the Company's Form 20-F for the year ended December 31, 2012 will be consistent with the Company's preliminary financial results issued in its press release on January 16, 2013.
About Tiger Media
Tiger Media is a multi-platform media company based in Shanghai, China. Tiger Media operates a network of high-impact LCD media screens located in the central business district areas in Shanghai. Tiger Media's core LCD media platforms are complemented by other digital media formats that it is developing including transit advertising and traditional billboards, which together enable it to provide multi-platform, "cross-over" services for its local, national and international advertising clients. Learn more at www.tigermedia.com.
Any statements contained in this press release that do not describe historical facts, including statements about Tiger Media's beliefs and expectations, may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "confident" and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations.
Potential risks and uncertainties include, but are not limited to: whether the Company's audited results included in the 20-F for the year ended December 31, 2012 will keep Tiger Media in compliance with the Company Guide; that the Exchange will commence delisting procedures against the Company in the event the Company's audited financial results included in its Form 20-F for the year ended December 31, 2012 cause the Company to be out of compliance with Sections 1003(a)(i-iv) of the Company Guide; whether the Company will maintain compliance with the Exchange's continued listing standards going forward; and the risks that there are uncertainties and matters beyond the control of management, and other risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. Tiger Media cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Tiger Media does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Paul Conway, 0118613918844646
KEYWORDS: United States Asia Pacific North America China Florida
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