Resignation puts EVCI stock listing at risk
-
- February
- 6
EVCI Career Colleges Holding Corp. has been warned by Nasdaq officials that the company is in violation of stock-market listing rules following the resignation of a board member who served on the company’s audit committee.
In a letter dated Tuesday, EVCI said, Nasdaq officials gave the Yonkers-based company until Jan. 31 or its next stockholders’ meeting if held before July 29 to regain compliance with the regulation, which mandates that companies have an audit committee comprised of three independent directors.
Failure to regain compliance could result in a delisting from the Nasdaq Capital Market, Nasdaq warned.
EVCI already faces possible delisting due to its low share price.
Nasdaq rules require companies listed on its market maintain a minimum $1 bid price. Shares of EVCI were trading at 20 cents a share shortly after markets closed today.
This entry was posted
on Wednesday, February 6th, 2008 at 4:15 pm by David Schepp.
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