- Current report filing (8-K)
09 June 2012 - 5:18AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
June 5, 2012
PEOPLES EDUCATIONAL HOLDINGS, INC.
(Exact Name of Registrant as Specified in
Its Charter)
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Delaware
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000-50916
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41-1368898
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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299 Market Street, Saddle Brook, NJ 07663
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code:
(201) 712-0090
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 3.01
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NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED
LISTING RULE OR STANDARD; TRANSFER OF LISTING.
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As previously disclosed, on December 7, 2011, Peoples Educational
Holdings, Inc. (the “Company”) received a letter from the Listing Qualifications Department (the “Staff”)
of The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that the bid price of its Common Stock had closed at
less than $1.00 per share over the previous 30 consecutive business days, and as a result, did not comply with the minimum bid
price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq
Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until June 4, 2012, to regain compliance with the Minimum
Bid Price Requirement.
In addition, as previously disclosed, on January 9, 2012, the
Company received a letter from the Staff notifying the Company that the Company’s Market Value of Publicly Held Shares (MVPHS)
was less than $1,000,000, and as a result, did not comply with the MVPHS requirement set forth in Nasdaq Listing Rule 5550(a)(5)
(the “MVPHS Requirement”).
The Company did not regain compliance with the Minimum Bid Price
Requirement by June 4, 2012. In addition, the Company has not regained compliance with the MVPHS Requirement, and therefore is
not eligible for a second 180-day period to regain compliance with the Minimum Bid Requirement. Accordingly, on June 5, 2012, the
Company received written notification from the Staff (the “Staff Determination”) stating that the Company’s Common
Stock is subject to delisting from The NASDAQ Capital Market unless the Company requests an appeal of the Staff Determination.
The Company does not intend to request an appeal of the Staff
Determination. Therefore, the Company’s Common Stock will be scheduled for delisting from The NASDAQ Capital Market, and
trading in the Company’s Common Stock on The NASDAQ Capital Market will be discontinued effective at the opening of business
on Thursday, June 14, 2012.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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PEOPLES EDUCATIONAL HOLDINGS, INC.
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(Registrant)
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By:
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/s/ Brian T. Beckwith
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Name:
Title:
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Brian T. Beckwith
President and Chief Executive Officer
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Date:
June 8, 2012
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