Ecology and Environment, Inc. Receives Nasdaq Notice
December 14 2018 - 4:30PM
On December 13, 2018, Ecology and Environment Inc. (Nasdaq: EEI) (E
& E, or the “Company”) received, as expected, a formal
notification from the Listing Qualifications Department of the
Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in
compliance with the requirements for continued listing under Nasdaq
Listing Rule 5250(c)(1) because it did not file its Quarterly
Report on Form 10-Q for the period ended October 27, 2018 (the
“2019 First Quarter Report”), and because the Company remains
delinquent in filing its Annual Report on Form 10-K for the fiscal
year ended July 31, 2018 (the “2018 Annual Report” and, together
with the 2019 First Quarter Report, the “Delinquent
Filings”).
As described in the Company’s Current Report on Form 8-K dated
December 12, 2018 and Form 12b-25 dated December 12, 2018, as filed
with the Securities and Exchange Commission (the “SEC”), the filing
of the 2019 First Quarter Report is delayed pending the completion
and filing of the 2018 Annual Report, including the completion of
the restatement of the Company’s consolidated financial statements
for the fiscal years ended July 31, 2017 and 2016.
Under Nasdaq rules, the Company has 60 calendar days from the
due date for the 2018 Annual Report, or until January 14, 2019, to
either file the Delinquent Filings with the SEC or to submit a plan
to regain compliance. If the Company is unable to file its
Delinquent Filings with the SEC by January 14, 2019, the Company
intends to submit a compliance plan on or prior to that date. If
Nasdaq accepts the Company’s compliance plan, Nasdaq may grant an
exception of up to 180 calendar days from the due date of the 2018
Annual Report, or until May 13, 2019, to regain compliance. If
Nasdaq does not accept the Company’s compliance plan, the Company
will have the opportunity to appeal that decision to a Nasdaq
Hearings Panel.
The Nasdaq notification has no immediate impact on the listing
or trading of the Company’s common stock on the Nasdaq Stock
Market.
About Ecology and Environment, Inc.E & E is
a global network of innovators and problem solvers, dedicated
professionals and industry leaders in scientific, engineering, and
planning disciplines working collaboratively with clients to
develop technically sound, science-based solutions to the leading
environmental challenges of our time. The company is listed on the
Nasdaq Stock Exchange under the ticker symbol EEI and the
information in this release can be found online at www.ene.com.
Contact:Sara HerrmannCorporate Communications Manager(716)
684-8060sherrmann@ene.com
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