PECO II Meets Nasdaq Corporate Governance Requirements
24 April 2006 - 11:49PM
PR Newswire (US)
GALION, Ohio, April 24 /PRNewswire-FirstCall/ -- PECO II, Inc.
(NASDAQ:PIII), a full-service provider of engineering and
installation on- site services and a manufacturer of communications
power systems and equipment to the communications industry,
announced today that it has been notified by The Nasdaq Stock
Market that it is now in compliance with the Nasdaq Marketplace
Rule 4350(c)(1). This rule states that a majority of the board of a
Nasdaq issuer must be comprised of independent directors. This
development follows on PECO II's April 20 announcement of the
election of Gerard B. Moersdorf, Jr., to the Company's board of
directors. The election of Moersdorf, founder and chairman of the
board of Applied Innovation Inc. (NASDAQ:AINN), gave PECO II's
board a majority of independent directors. Moersdorf meets all
Nasdaq requirements for director independence which, in summary,
require that, during the past three years, neither he nor any of
his immediate family members have had any significant business,
political or non-profit involvement that includes PECO II or its
officers or directors. About PECO II, Inc. PECO II, headquartered
in Galion, Ohio, provides engineering and on-site installation
services and designs, manufactures and markets communications power
systems and power distribution equipment. As the largest
independent full-service provider of telecommunications power
systems, the Company provides total power quality and reliability
solutions, and supports the power infrastructure needs of
communications service providers in the local exchange,
long-distance, wireless, broadband and Internet markets. Additional
information about PECO II can be found at http://www.peco2.com/.
DATASOURCE: PECO II, Inc. CONTACT: Sandra A. Frankhouse, Chief
Financial Officer and Treasurer of PECO II, Inc., +1-419-468-7600
Web site: http://www.peco2.com/
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