Atlas Financial Holdings Receives Anticipated Nasdaq Notice of Additional Delinquency
November 20 2019 - 4:15PM
Business Wire
Atlas Financial Holdings, Inc. (NASDAQ: AFH) (“Atlas” or the
“Company”) today announced that, as expected, the Company
received an additional delinquency notification letter from the
Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock
Market LLC (“Nasdaq”) due to the Company’s continued non-compliance
with Nasdaq Listing Rule 5250(c)(1) (the “Rule”) as a result of the
Company’s failure to timely file its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2019. As previously disclosed,
the Company earlier received notice from the Staff regarding its
non-compliance with the Rule following the Company’s delay in the
filing of its Annual Report on Form 10-K for the fiscal year ended
December 31, 2018 and its Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2019 and June 30, 2019 (collectively, the
“Periodic Reports”).
Scott Wollney, CEO added, “The Company continues to proceed
consistent with the milestones agreed with the Nasdaq Hearings
Panel as previously disclosed.”
Importantly, and as also previously disclosed, at a hearing
before the Nasdaq Hearings Panel (the “Panel”), the Company
presented its plan to regain compliance with the Rule. The Panel
thereafter issued its decision granting the Company’s request for
continued listing on The Nasdaq Capital Market subject to the
Company’s filing of the Periodic Reports with the SEC by no later
than February 28, 2020. The Company intends to timely update the
Panel with respect to its compliance plan as requested by the
Staff.
About Atlas
The primary business of Atlas is commercial automobile insurance
in the United States, with a niche market orientation and focus on
insurance for the “light” commercial automobile sector including
taxi cabs, non-emergency para-transit, limousine/livery (including
certain transportation network company drivers) and business
auto.
For more information about Atlas, please visit
www.atlas-fin.com
Forward-Looking Statements
This release includes forward-looking statements regarding Atlas
and its insurance subsidiaries and businesses. Such statements are
based on the current expectations of the management of each entity.
The words “anticipate,” “expect,” “believe,” “may,” “should,”
“estimate,” “project,” “outlook,” “forecast” or similar words are
used to identify such forward looking information. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of known and
unknown risk factors and uncertainties affecting the Companies,
including risks regarding the insurance industry, economic factors
and the equity markets generally and the risk factors discussed in
the “Risk Factors” section of the Company’s 2017 Annual Report on
Form 10-K. No forward-looking statement can be guaranteed. Except
as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and
Atlas and its subsidiaries undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191120005924/en/
At the Company Atlas Financial Holdings, Inc. Scott Wollney, CEO
847-700-8600 swollney@atlas-fin.com www.atlas-fin.com
Investor Relations The Equity Group Inc. Adam Prior, Senior Vice
President 212-836-9606 aprior@equityny.com
www.theequitygroup.com
Atlas Financial (NASDAQ:AFH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Atlas Financial (NASDAQ:AFH)
Historical Stock Chart
From Sep 2023 to Sep 2024