Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report: July 7, 2009
Commission
File Number: 001-34395
China
Networks International Holdings Ltd.
(Exact
name of registrant as specified in its charter)
China
Networks International Holdings Ltd.
(Translation
of Registrant’s name into English)
801 Block
C, Central International Trade Center
6A
Jianguomenwai Avenue
Chaoyang
District
Beijing,
100022 PRC
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports
under
cover Form 20-F or Form 40-F.
Form
20-F x Form
40-F o
Indicate
by check mark if the Registrant is submitting this Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(1):
Yes o No
x
Indicate
by check mark if the Registrant is submitting this Form 6-K in paper as
permitted
by Regulation S-T Rule 101(b)(7):
Yes o No
x
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form 6-K is also thereby
furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934
Yes o No
x
The registrant issued the following press release on July 7, 2009
in connection with a letter it received on July 6, 2009 from the NYSE Amex
regarding its intention to delist the Company’s securities.
FOR IMMEDIATE
RELEASE
CHINA
NETWORKS INTERNATIONAL HOLDINGS LTD. RECEIVES NOTICE OF DELISTING FROM NYSE
AMEX
NEW YORK,
July 7/PRNewswire-FirstCall/ -- China Networks International Holdings Ltd. (NYSE
Amex: CNR), a
provider of broadcast television advertising rights through joint venture
arrangements in the People’s Republic of China (“CNIH”), today reported that it
received a letter (the “Letter”) on July 6, 2009, from the NYSE Amex indicating
its intent to proceed with delisting of CNIH’s common stock, units and warrants
pursuant to Section 1003(d) of the Exchange’s Company Guide. The
Exchange cited, in particular, the failure of the Company (formerly known as
Alyst Acquisition Corp.) to meet certain initial listing requirements following
the consummation of its merger with China Networks Media, Ltd. on June 30,
2009. Specifically, under Section 102(a) of the Exchange’s Company
Guide, a company is required to have a minimum public distribution of 500,000
shares of common stock and a minimum of 800 public shareholders, or a minimum of
1 million shares of common stock together with a minimum of 400 public
shareholders. In addition, the Exchange cited the Company’s failure
under Section 132(e) to provide certain additional documentation and information
requested by the Exchange in a timely manner. CNIH has
a limited right to appeal the Exchange’s determination by requesting an oral
hearing or a hearing based upon a written submission before a Listing
Qualifications Panel. Such request, together with the applicable
fees, must be received by the Exchange by July 13, 2009. If CNIH does
not appeal by the prescribed date, the Exchange will suspend trading in CNIH’s
securities and submit an application to the SEC for remove the securities from
listing. CNIH’s management expects to appeal the Exchange’s determination
within the required time period and request a hearing before a committee of the
Exchange. Such a hearing is expected to be scheduled within 45 days
of receipt by the Exchange of CNIH’s appeal. There can be no
assurance that the Company’s request for continued listing of its securities
will be granted. In the event that CNIH is unsuccessful in retaining
its listing on the NYSE Amex, its securities will be eligible for trading in the
OTC Bulletin Board until it can once again meet the listing requirements of a
nationally recognized exchange.
About
CNIH
CNIH is a
provider of broadcast television advertising in the PRC through joint venture
arrangements with state-owned television stations. The Company’s
principal executive offices are in Beijing, PRC. CNIH is the result
of a merger between Alyst Acquisition Corp., a SPAC, and China Networks Media,
Ltd., which was consummated on or about June 30, 2009. CNIH is
incorporated in the British Virgin Islands.
Safe
Harbor Statement
This press release contains
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about
CNIH. Forward-looking statements are statements that are not
historical facts and may be identified by the use of forward-looking
terminology, including the words "believes," "expects," "intends," "may,"
"will," "should" or comparable terminology. Such forward-looking statements are
based upon the current beliefs and expectations of CNIH’s management and are
subject to risks and uncertainties which could cause actual results to differ
from the forward- looking statements.
Forward-looking statements are not
guarantees of future performance and actual results of operations, financial
condition and liquidity, and developments in the industry may differ materially
from those made in or suggested by the forward-looking statements contained in
this press release. These forward-looking statements are subject to numerous
risks, uncertainties and assumptions. The forward-looking statements in this
press release speak only as of the date of this press release and might not
occur in light of these risks, uncertainties, and assumptions. Alyst undertakes
no obligation and disclaims any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise.
For
Further Information, please contact:
China
Networks International Holdings Ltd.
Michael
E. Weksel
Tel:
212-650-0232
Email:
mweksel@alyst.net
SOURCE: China
Networks International Holdings Ltd.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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CHINA
NETWORKS INTERNATIONAL HOLDING LTD.
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By:
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/s/ Michael
E. Weksel |
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Name:
Michael E. Weksel |
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Title:
Chief Financial Officer |
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July 7,
2009