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CTZN > SEC Filings for CTZN > Form 8-K on 16-Oct-2009All Recent SEC Filings

Show all filings for CITIZENS FIRST BANCORP INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for CITIZENS FIRST BANCORP INC


16-Oct-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 9, 2009, Citizens First Bancorp, Inc. (the "Company") received written notice from The Nasdaq Stock Market ("Nasdaq") notifying the Company that it is currently not in compliance with Nasdaq's continued listing requirement under Marketplace Rule 5450(a)(1) (the "Bid Price Rule") because the bid price for its common stock has closed below $1.00 per share for 30 consecutive business days. In accordance with Marketplace Rule 5810(c)(3)(A), the Company has until April 7, 2010 to regain compliance with the Bid Price Rule or be subject to delisting from the Nasdaq Global Select Market. If, prior to April 7, 2010, the bid price of the Company's common stock closes at $1.00 per share or higher for at least 10 consecutive business days, the Company may regain compliance with the Bid Price Rule and not be subject to delisting at that time.
If compliance with the Bid Price Rule cannot be established prior to April 7, 2010, the Company's common stock will be subject to delisting from the Nasdaq Global Select Market. The Company may, however, be eligible for an additional grace period if it satisfies the initial listing standards (with the exception of the Bid Price Rule) for listing on The Nasdaq Capital Market, and it submits a timely application to Nasdaq to transfer the listing of its common stock to the Nasdaq Capital Market. The Company will continue to evaluate its options with respect to maintaining the listing of its common stock on the Nasdaq stock market.
The Company issued a press release on October 15, 2009 that disclosed its receipt of this notice from Nasdaq. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 Press release dated October 15, 2009.


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