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| CBMX > SEC Filings for CBMX > Form 8-K on 12-Mar-2013 | All Recent SEC Filings |
12-Mar-2013
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
As a result of the previously disclosed resignation of Martin Felsenthal from the Board of Directors (the "Board") of CombiMatrix Corporation (the "Company") as of March 15, 2013, the Company will no longer be in compliance with NASDAQ Listing Rule 5605(b)(1) as of such date, which requires that a majority of the Board be comprised of independent directors. In accordance with NASDAQ Listing Rule 5605(b)(1)(A), the Company has until the Company's next annual meeting of stockholders to regain compliance.
On March 8, 2013, Mark McGowan, the current Chairman of the Board of Directors of the Company, tendered his resignation from the Company's Board and from the Board committees on which he served, effective as of the close of business on March 12, 2013. Mr. McGowan's resignation is not a result of any disagreement with management. Mr. McGowan resigned from the Board as a result of demands related to other on-going business activities.
Although the Company previously disclosed the resignation of R. Judd Jessup from the Company's Board to be effective as of March 15, 2012, Mr. Jessup has decided not to resign from the Board, and the Board appointed Mr. Jessup to serve in the position of Chairman of the Board effective as of the close of business on March 12, 2013 following Mr. McGowan's resignation.
The information contained in Item 3.01 of this Form 8-K above is incorporated herein by reference.
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