LANCASTER, N.Y., Dec. 14, 2018 (GLOBE NEWSWIRE) -- On December 13, 2018, Ecology and Environment Inc. (Nasdaq: EEI) (E & E, or the “Company”) received, as expected, a formal notification from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) because it did not file its Quarterly Report on Form 10-Q for the period ended October 27, 2018 (the “2019 First Quarter Report”), and because the Company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended July 31, 2018 (the “2018 Annual Report” and, together with the 2019 First Quarter Report, the “Delinquent Filings”).
As described in the Company’s Current Report on Form 8-K dated December 12, 2018 and Form 12b-25 dated December 12, 2018, as filed with the Securities and Exchange Commission (the “SEC”), the filing of the 2019 First Quarter Report is delayed pending the completion and filing of the 2018 Annual Report, including the completion of the restatement of the Company’s consolidated financial statements for the fiscal years ended July 31, 2017 and 2016.
Under Nasdaq rules, the Company has 60 calendar days from the due date for the 2018 Annual Report, or until January 14, 2019, to either file the Delinquent Filings with the SEC or to submit a plan to regain compliance. If the Company is unable to file its Delinquent Filings with the SEC by January 14, 2019, the Company intends to submit a compliance plan on or prior to that date. If Nasdaq accepts the Company’s compliance plan, Nasdaq may grant an exception of up to 180 calendar days from the due date of the 2018 Annual Report, or until May 13, 2019, to regain compliance. If Nasdaq does not accept the Company’s compliance plan, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
The Nasdaq notification has no immediate impact on the listing or trading of the Company’s common stock on the Nasdaq Stock Market.
About Ecology and Environment, Inc.
E & E is a global network of innovators and problem solvers, dedicated professionals and industry leaders in scientific, engineering, and planning disciplines working collaboratively with clients to develop technically sound, science-based solutions to the leading environmental challenges of our time. The company is listed on the Nasdaq Stock Exchange under the ticker symbol EEI and the information in this release can be found online at www.ene.com.
Contact:
Sara Herrmann
Corporate Communications Manager
(716) 684-8060
sherrmann@ene.com