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ADUS > SEC Filings for ADUS > Form 8-K on 1-Jul-2013All Recent SEC Filings

Show all filings for ADDUS HOMECARE CORP



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

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

As disclosed in Addus HomeCare Corporation's (the "Company") Current Report on Form 8-K filed on April 28, 2013, Wayne Lowell resigned from his position as a member of the Company's board of directors (the "Board") and as a member of its Audit Committee, effective June 30, 2013. As a result of Mr. Lowell's resignation, the Audit Committee has only two members.

On July 1, 2013, the Company notified the Listing Qualifications Department of the NASDAQ Stock Market ("NASDAQ") that the Company is no longer in compliance with NASDAQ Marketplace Rule 5605(c)(2), which requires the Company to have at least three independent directors serving on its Audit Committee. On the same day, the Company received a letter from NASDAQ noting that the Company is no longer in compliance with Rule 5605(c)(2).

Marketplace Rule 5605(c)(4)(B) provides a specific cure period to fill an Audit Committee vacancy. The Company has until the earlier of the Company's next annual meeting of stockholders or June 30, 2014 to regain compliance. The Company is actively seeking a qualified Board member who could also serve on the Audit Committee as its third member in order to cure this deficiency within the provided cure period.

This Current Report on Form 8-K is being filed to comply with the applicable rules of the Securities and Exchange Commission and to comply with NASDAQ Marketplace Rule 5810(b).

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