WSP Holdings Responds to Recent Trading Activity
WUXI, China, Aug. 12, 2013 /PRNewswire/ – WSP Holdings Limited (NYSE: WH) (“WSP Holdings” or the “Company”), a Chinese manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction (“Oil Country Tubular Goods” or “OCTG”), and other pipes and connectors, notes that certain irregular trading activity of its American depositary shares took place on August 8. The Company believes that the irregular trading activity may be attributable to recent market speculation surrounding the status of the Company’s going private transaction arising from a third-party article.
The Company is currently working to address the non-compliance of its reporting obligations and complete the financial audit for the year ended December 31, 2012. The Company expects to make another announcement as soon as it has an update on the going private transaction.
About WSP Holdings Limited
WSP Holdings develops and manufactures seamless Oil Country Tubular Goods (OCTG), including seamless casing, tubing and drill pipes used for on-shore and off-shore oil and gas exploration, drilling and extraction, and other pipes and connectors. Founded as WSP China in 1999, the Company offers a wide range of API and non-API seamless OCTG products, including products that are used in extreme drilling and extraction conditions. The Company’s products are used in China’s major oilfields and are exported to oil producing regions throughout the world. For further information, please visit WSP Holdings’ website at http://ir.wsphl.com/.
Safe Harbor Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements. Such factors include, but are not limited to, changes in anticipated level of sales, changes in national or regional economic and competitive conditions, changes in the Company’s relationships with customers, the Company’s ability to develop and market new products, the Company’s ability to access capital for expansion, changes in principal product revenues and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by the Company, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company’s stock. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
Contact: WSP Holdings Limited Compass Investor Relations Ms. Judy Zhu, IR Director Ms. Elaine Ketchmere, Partner Phone: +86-510-8536-0401 Phone: +1-310-528-3031 (Los Angeles) E-mail: firstname.lastname@example.org E-mail: email@example.com http://www.wsphl.com
SOURCE WSP Holdings Limited