Cleantech Solutions moves to Nasdaq Capital Market

Dec 30, 2011 - Chinese Cleantech Solutions International Inc (NASDAQ:CLNT), former China Wind Systems Inc, said today it had moved to the Nasdaq Capital Market from the Nasdaq Global Market, as the market value of its stock fell below the required USD 5 million (EUR 4m).

Following the change, which took effect on December 29, the company will keep its trading symbol CLNT, it said.

Cleantech Solutions makes metal components and assemblies for the wind, solar power and other industries. It also said that its board had given the thumbs-up to a one-for-10 reverse split. It has also approved a planned cut in the number of authorised common shares to 50 million from 150 million and preferred stock to 30 million from 60 million.

(USD 1.0 = EUR 0.773)

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