Pocahontas Bancorp, Inc. Announces Non-Compliance with NASDAQ Listing Requirements
January 26 2006 - 11:03AM
Business Wire
Pocahontas Bancorp, Inc. (Nasdaq-NMS:PFSL) announced that the
Company today received a letter from the Nasdaq Stock Market dated
January 19, 2006 advising that the Company fails to comply with the
requirements of Nasdaq Market Place Rule 4350(c)(1) for continued
listing on the Nasdaq Stock Market. The rule requires that a
majority of the Company's Board of Directors be independent.
Pursuant to Nasdaq requirements and the letter, the Company has
adopted a specific plan and timetable to achieve compliance with
the independence requirements of Nasdaq. Pursuant to the plan, the
Company expects to appoint an additional independent director to
its Board of Directors within three months.
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