UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

___________________

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  August 8, 2014

 

CHINA AUTO LOGISTICS INC.

 (Exact name of registrant as specified in its charter)

 

Nevada   000-52625   20-2574314

(State or Other Jurisdiction

of Incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

Floor 1 FTZ International Auto Mall

86 Tianbao Avenue, Free Trade Zone

Tianjin Province, The People’s Republic of China  300461

(Address of principal executive offices)

 

Registrant’s telephone number, including area code: (86) 22-2576-2771

 

_________

 

(Former Name or Former Address if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

 

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act   (17 CFR 240.14d-2(b))

 

 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act   (17 CFR 240.13e-4(c))

 

 
 

 

Item 8.01.  Other Events.

 

On August 8, 2014, China Auto Logistics Inc. (the “Company”) announced that the Depository Trust Company (“DTC”) extended the deadline for the Company to submit its written response to DTC’s notice of its intention to suspend all book entry services provided to DTC participants with respect to the Company’s common shares (the “Global Lock Notice”). The Company must now submit its response to the Global Lock Notice by Spetember 12, 2014. The Company had previously disclosed the receipt of the Global Lock Notice in a Form 8-K filed with the Securities and Exchange Commission on July 23, 2014. Once the Company submits its response to DTC, DTC will then have up to twenty business days to reply to the Company with either a determination or a request for further information. There can be no assurance that the Company’s efforts will be successful.

 

A copy of the press release that discusses this matter is filed as Exhibit 99.1 to, and incorporated by reference in, this report. The information in this Current Report is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01.  Financial Statements and Exhibits.

 

Exhibit

Number

  Exhibit Description
99.1   Press Release dated August 8, 2014

 

 
 

 

SIGNATURE PAGE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  CHINA AUTO LOGISTICS INC.  
       
 Date: August 11, 2014 By: /s/ Tong Shiping  
  Name: Tong Shiping  
  Title: President and Chief Executive Officer  
       

 


Exhibit 99.1

 

 

   

CHINA AUTO LOGISTICS INC. Stock Symbol CALI

 

 

Floor 1 FTZ International Auto Mall, 86 Tianbao Avenue, Free Trade Zone, Tianjin, P.R.China 300461

Tel: 86 (22) 25762771 Fax: 86 (22) 66271509

 

China Auto Logistics (CALI) Receives Extension From The Depository Trust Company (DTC) For Submission of a Response to DTC’s Planned “Global Lock”

 

TIANJIN, CHINA--(August 8, 2014) - China Auto Logistics Inc. (the "Company" or "CALI") (NASDAQ: CALI), a top seller in China of luxury imported automobiles, a leading provider of auto-related services and a soon to be entrant in used car sales in China, reported today it has received an extension until September 12, 2014 to respond to the Depository Trust Company’s (“DTC”) determination to suspend all book entry services provided to DTC participants with respect to CALI’s shares (the “Global Lock”). Initially, the Company was given until August 13, 2014 to respond. The Company said it has retained the law firm of Sichenzia Ross Friedman Ference (SRFF) on this matter which requested additional time to review records and prepare a response to DTC.

 

Mr. Tong Shiping, Chairman and CEO of the Company, stated, “We remain staunchly opposed to DTC’s harmful decision to impose a ‘global lock’ on CALI shares, particularly in view of the fact that the Company has not been accused of any wrongdoing, and current shareholders of CALI are far removed from the purported actions of the individuals alleged by the SEC to have traded the shares illegally in the past.”

 

A Bright Future

 

Mr. Tong added, “Further, as reflected in recent actions we’ve taken - - including an acquisition which we believe will help us become a major player in China’s rapidly growing used car market, and a cooperation framework agreement announced this week which we think will dramatically expand our luxury imported vehicles sales and services businesses - - we see a bright future ahead that our patient shareholders deserve to be the beneficiaries of. We intend to do everything we can to help ensure this is the case.”

 

Determined to Stay the Course

 

Mr. Tong stated further, “While several other China-based companies sadly have responded to the challenges of being listed in the U.S. by dropping out, we are determined to stay the course, which we firmly believe is in the best interests of the Company and its shareholders.”

 

 
 

 

About China Auto Logistics Inc.

 

China Auto Logistics Inc. is one of China's top sellers of imported luxury vehicles. It also provides a growing variety of "one stop" automobile related services such as short term dealer financing. Additionally, in November, 2013, it acquired the owner and operator of the 26,000 square meter Airport International Automall in Tianjin for $91.4 million, with plans to develop it, among other things, as the flagship site for a used car business, with Car King (China) Used Car Trading Co., Ltd.

 

Information Regarding Forward-Looking Statements

 

Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission. We do not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. 

 

Contacts:


Sun Jiazhen
sjz_cali@126.com

Ken Donenfeld
DGI Investor Relations Inc.
kdonenfeld@dgiir.com
Tel: 212-425-5700
Fax: 646-381-9727