Shoe Pavilion Inc - Current report filing (8-K)
21 June 2008 - 6:22AM
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 19, 2008
Shoe Pavilion, Inc.
(Exact name of registrant as specified in its charter)
Delaware
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0-23669
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94-3289691
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(State of other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification Number)
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13245 Riverside Drive, Suite 450
Sherman Oaks, California 91423
(Address of principal executive offices including zip code)
(818) 907 9975
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 19, 2008, Shoe Pavilion, Inc. (the "Company") received written notification (the "Notice") from
The Nasdaq Stock Market ("Nasdaq") that the bid price of its common stock for the last 30 consecutive business days had
closed below the minimum $1.00 per share required for continued listing under Nasdaq Marketplace Rule 4310(c)(4) (the
"Rule"). Pursuant to Nasdaq Marketplace Rule 4310(c)(8)(D), the Company has been provided an initial period of 180
calendar days, or until December 16, 2008, to regain compliance. The Notice states that the Nasdaq staff (the "Staff") will
provide written notification that the Company has achieved compliance with the Rule if at any time before December 16, 2008, the bid
price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, although the
Notice also states that the Staff has the discretion to require compliance for a period in excess of 10 consecutive business days, but
generally no more than 20 consecutive business days, under certain circumstances.
If the Company cannot demonstrate compliance with the Rule by December 16, 2008, the Company may apply to transfer its
listing to the Nasdaq Capital Market, provided that it meets all of the initial listing requirements of Nasdaq Marketplace Rule 4310(c)
other than the $1.00 minimum bid requirement. If the Company meets the initial listing criteria for the Nasdaq Capital Market, the Staff
will notify the Company that its listing has been transferred to the Nasdaq Capital Market and has been granted an additional 180
calendar day compliance period. If the Company is not eligible for transfer and the additional compliance period, the Staff will provide
written notice that the Company's securities will be delisted. At that time, the Company may appeal the Staff's determination to delist its
securities to a Listing Qualifications Panel.
Item 9.01. Exhibits
99.1 Press Release dated June 20, 2008
SIGNATURES
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.
Date: June 20, 2008
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By: /s/ MICHAEL P. MCHUGH
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Michael P. McHugh
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Executive Vice President and Chief Financial Officer
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