Central European Distribution Corporation Receives NASDAQ Notification Letter
Central European Distribution Corporation (NASDAQ: CEDC) announced that on August 10, 2012, CEDC received a notification letter from a representative of the Listing Qualifications Department of The NASDAQ OMX Group stating that due to CEDC's inability to timely file its Form 10-Q for the period ended June 30, 2012 (the "2nd Quarter Form 10-Q"), CEDC was not in compliance with NASDAQ Listing Rule 5250(c)(1). This notification was issued in accordance with standard NASDAQ procedures, in connection with CEDC's announcement on August 10, 2012, on Form 12b-25 that CEDC would not be able to timely file its 2nd Quarter Form 10-Q.
The NASDAQ notification letter noted that CEDC has until October 9, 2012 to submit a plan to regain compliance with the applicable listing rule to NASDAQ. Upon acceptance of CEDC's compliance plan, NASDAQ may grant CEDC an exception of up to 180 calendar days from the 2nd Quarter Form 10-Q's initial due date, or until February 5, 2013, for CEDC to regain compliance with NASDAQ's filing requirements for continued listing.
The NASDAQ notice has no immediate effect on the listing or trading of CEDC's common stock on the NASDAQ Global Select Market. CEDC intends to file its 2nd Quarter Form 10-Q as soon as practicable and to fully regain compliance with the NASDAQ continued listing requirements upon such filing of its 2nd Quarter Form 10-Q. If necessary, CEDC will submit a plan to regain compliance with NASDAQ's filing requirements within the 60 day deadline.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.