China Networks delisted from NYSE Amex

China Networks International Holdings Ltd., incorporated in the British Virgin Islands as a result of a merger between Alyst Acquisition Corp., a SPAC, and China Networks Media, Ltd., announced that on August 28, 2009 it received notice from the NYSE Amex, informing that the Exchange’s Appeals Panel has affirmed the decision to delist its securities.
 
More than a month ago, the newly formed BVI company received the first letter from NYSE Amex Staff indicating its intent to proceed with delisting of company’s stock, units and warrants. Current decision was taken by the Panel which agreed that China Networks does not meet initial listing requirements following the consummation of the merger in June 2009. The failure to meet the Exchange’s requirements resulted in the recommendation to complete the delisting without prejudice to the company.
 
At the moment, China Networks securities continue to trade on the OTCBB. The BVI company is trying to meet the eligibility requirements for listing on a national stock exchange.