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NKA > SEC Filings for NKA > Form 8-K on 7-Apr-2014All Recent SEC Filings

Show all filings for NISKA GAS STORAGE PARTNERS LLC

Form 8-K for NISKA GAS STORAGE PARTNERS LLC


7-Apr-2014

Notice of Delisting or Failure to Satisfy a Continued Listing Rule


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

As previously reported, effective March 1, 2014, Deborah M. Fretz resigned from the board of directors (the "Board") of Niska Gas Storage Partners LLC (the "Company"). Ms. Fretz was one of the three independent directors serving on the Company's Audit Committee. Section 303A.07(a) of the New York Stock Exchange (the "NYSE") corporate governance listing standards requires all publicly-traded companies to have at least three independent directors serving on its Audit Committee. As a result of Ms. Fretz's resignation, the Company is deficient in meeting this listing standard. The Company provided notice to the NYSE of this deficiency on March 6, 2014. Following this notification, on April 2, 2013, the NYSE sent its official notice to the Company that it was deficient in meeting the NYSE listing standards. The Board intends to appoint another independent director to the Board and to the Audit Committee or to otherwise have three independent directors serving on its Audit Committee as soon as practicable.


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