NASDAQ Stock Market Confirms WorldHeart's Compliance With NASDAQ Listing Rule 5605
February 05 2010 - 3:53PM
PR Newswire (US)
SALT LAKE CITY, Feb. 5 /PRNewswire-FirstCall/ -- (NASDAQ:WHRT) --
World Heart Corporation ("WorldHeart" or "Company"), a developer of
mechanical circulatory systems, announced today that on February 1,
2010, the Company received a NASDAQ Staff Deficiency Letter
indicating that the Company does not comply with NASDAQ Listing
Rule 5605. This Rule requires the Company to have at least three
independent directors on its Audit Committee for continued listing
on the NASDAQ Capital Market. Subsequently on February 4, 2010, the
Company's Board of Directors elected Mr. Eugene B. Jones to serve
as a director of the Company and Mr. Jones was also appointed to
serve on the Audit Committee. The Company received a letter from
the NASDAQ Staff on February 5, 2010 stating that the Company has
regained compliance with Listing Rule 5605 and that this matter is
now closed. About World Heart Corporation WorldHeart is a developer
of mechanical circulatory support systems headquartered in Salt
Lake City, Utah. World Heart's registered office is in Delaware,
USA. Any forward-looking statements in this release are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and include all statements relating
to WorldHeart's ability to regain compliance with the NASDAQ
Capital Market listing requirements, as well as other statements
that can be identified by the use of forward-looking language, such
as "believes," "feels," "expects," "may," "will," "should,"
"seeks," "plans," "anticipates," or "intends" or the negative of
those terms, or by discussions of strategy or intentions. Investors
are cautioned that all forward-looking statements involve risk and
uncertainties, including without limitation: delisting from the
NASDAQ Capital Market if compliance with the listing standards,
including the audit committee composition requirement, is not
maintained; and other risks detailed in WorldHeart's filings with
the U.S. Securities and Exchange Commission, including without
limitation its Annual Report on Form 10-K for the year ended
December 31, 2008 and its Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2009, June 30, 2009 and September 30,
2009. DATASOURCE: World Heart Corporation CONTACT: Mr. Morgan R.
Brown, Executive Vice President and Chief Financial Officer of
World Heart Corporation, +1-801-303-4361 Web Site:
http://www.worldheart.com/
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