Sport-Haley regains compliance with registration requirement from Nasdaq

03 Feb '06

3 min read

Sportwear manufacturer Sport-Haley Inc informed that on February 1, 2006, it received a letter from The Nasdaq Stock Market Inc, upon which the company's common stock trades, advising that Sport-Haley, after filing its application for registration of its common stock on Form 10 and it becoming effective on January 26, 2006, has regained compliance with the registration requirement for continued listing on the Nasdaq National Market, as stated in NASD Marketplace Rule 4440(a).

The company was further advised that, subject to making this public disclosure concerning the receipt of the letter, NASDAQ considered this matter to be closed.

As previously announced, on December 28, 2005, Sport-Haley Inc notified Nasdaq that the company had recently become aware that its common shares were not properly registered under §12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as the company had believed, and therefore, the company was not in compliance with NASD Marketplace Rule 4440(a), which requires an issue of securities to be registered under §12(g)(1) of the Exchange Act in order to be listed on the Nasdaq National Market.

At that time, Nasdaq advised the company that it would continue to list Sport-Haley's common shares on the National Market so long as the company promptly filed a Form 10 to register its common stock pursuant to §12(g) of the Securities Exchange Act of 1934 (the "Exchange Act") and continued to make all filings with the SEC required of an issuer whose stock is registered under §12(g) of the Exchange Act.

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