Pingtan Marine Enterprise Responded to the Designation of Being included in the SDN List by the U.S Department of the Treasury's Office of Foreign Assets Control

Provided By PR Newswire

Last update: Dec 16, 2022

FUZHOU, China, Dec. 16, 2022 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the "Company"), a fishing company based in the People's Republic of China (the "PRC"), today announced that it was notified by The Nasdaq Stock Market LLC ("Nasdaq") on December 9, 2022, that the trading in PME stock has been suspended in response to the actions by the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC"). In a press release earlier the same day, OFAC designated certain individuals and companies along with their affiliated entities, including the Company and its Chairman and Chief Executive Officer, Mr. Xinrong Zhuo, as well as certain vessels in which the Company has an interest, in the list of Specially Designated Nationals ("SDN List"). The details of the sanctions may be referenced at https://home.treasury.gov/news/press-releases/jy1154 and https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20221209.