Inter-Atlantic Financial, Inc. Plan of Compliance Accepted by Exchange
12 May 2009 - 4:56AM
Business Wire
Inter-Atlantic Financial, Inc. (NYSE Amex: IAN) (the �Company�)
received notice from the NYSE Amex, LLC (�Exchange�) on February
10, 2009, indicating that it was not in compliance with Section 704
of the NYSE Amex Company Guide (the �Company Guide�) because the
Company did not hold an annual meeting of its stockholders during
the year ended December 31, 2008. The Company was afforded the
opportunity to submit a plan of compliance to the Exchange and on
March 9, 2009 presented its plan to the Exchange. On May 4, 2009
the Exchange notified the Company that it accepted the Company�s
plan of compliance and granted the Company an extension until
August 11, 2009 to regain compliance with the continued listing
standards. The Company will be subject to periodic review by
Exchange Staff during the extension period. Failure to make
progress consistent with the plan or to regain compliance with the
continued listing standards by the end of the extension period
could result in the Company being delisted from the NYSE Amex
LLC.
About Inter-Atlantic Financial, Inc.
Inter-Atlantic Financial, Inc. is a blank check company formed
for the purpose of effecting a merger, capital stock exchange,
stock purchase, asset acquisition or other similar business
combination with one or more operating businesses in the financial
services industry. On April 23, 2009 the Company entered into a
definitive stock purchase agreement with Patriot Risk Management,
Inc. The proposed transaction is subject to stockholder approval,
regulatory approval and other closing conditions.
Forward-Looking Statements
This announcement contains forward-looking statements that
involve known and unknown risks and uncertainties. A discussion of
various factors that could cause the Company's actual results,
levels of activity, performance or achievements to differ
materially from those expressed in such forward-looking statements
are included in the Company's filings with the Securities and
Exchange Commission. The Company undertakes no obligation to revise
any of these statements to reflect future circumstances or the
occurrence of unanticipated events.
.
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