Sino-Forest common stock to be delisted from Toronto exchange May 9

By Caroline Salls

Pittsburgh, April 5 - Sino-Forest Corp. said the continued listings committee of the Toronto Stock Exchange has decided to delist the company's common shares effective at the close of market on May 9.

According to a company news release, the delisting stems from Sino-Forest's filing of proceedings under the Companies' Creditors Arrangement Act on March 30, as well as its failure to file interim financial statements for the three months and nine months ended Sept. 30, 2011 and its audited annual financial statements for the year ended Dec. 31, 2011 on a timely basis.

The company said it is still subject to a cease trade order of the Ontario Securities Commission, which prohibits trading in Sino-Forest's securities.

Toronto-based Sino-Forest is a commercial forest plantation operator in China.

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