HILL INTERNATIONAL,INC. (NYSE:HIL) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

ME Staff 8-k

7 years ago

HILL INTERNATIONAL,INC. (NYSE:HIL) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Ruleor Standard; Transfer of Listing.

On August15, 2017, Hill International,Inc. (the “Company”) received a notice from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with the NYSE’s continued listing requirements under the timely filing criteria established in Section802.01Eof the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form10-Qfor the fiscal quarter ended June30, 2017 (the “Form10-Q”).

As reported by the Company in its Form12b-25filed with the Securities and Exchange Commission (the “SEC”) on August10, 2017, the Company was unable to file the Form10-Qwithin the prescribed time period without unreasonable effort or expense. The extension period provided under Rule12b-25expired on August14, 2017. The reason for the delay is that the Company is continuing to compile information regarding, and complete the proper accounting and related tax treatment of, the sale of the Company’s Construction Claims Group which was completed during the second quarter of 2017, and to assess the Company’s accounting for comprehensive income (loss) in conjunction with the accounting for the sale of the Construction Claims Group. The Company is currently uncertain as to the scope or size of any adjustment that may be required from its assessment of comprehensive income (loss). The Company will not be able to file the Form10-Q until the compilation, accounting and assessment are completed.

The NYSE informed the Company that, under the NYSE’s rules, the Company will have six months from August15, 2017 to file the Form10-Qwith the SEC. The Company can regain compliance with the NYSE continued listing requirements at any time before that date by filing the Form10-Qwith the SEC. The Company will file the Form10-Qas soon as practicable. If the Company fails to file the Form10-Q before the NYSE’s compliance deadline, the NYSE may grant, at its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The letter from the NYSE also notes that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant.

Item 8.01. Other Events.

Attached as Exhibit99.1 hereto, and incorporated herein by reference, is a copy of the Company’s press release dated August18, 2017, announcing the receipt of the NYSE notice.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

ExhibitNo..	Description
99.1	Press Release dated August18, 2017.

Hill International, Inc. ExhibitEX-99.1 2 a17-20727_1ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Hill International Receives NYSE Notice Regarding Late Form 10-Q Filing Philadelphia,…To view the full exhibit click here
About HILL INTERNATIONAL,INC. (NYSE:HIL)
Hill International, Inc. (Hill) is a professional services firm. The Company provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. The Company operates in two segments: Project Management Group and Construction Claims Group. The Project Management Group is engaged in providing fee-based or agency construction management services. The segment provides construction and project management services to construction owners across the world. The Construction Claims Group is engaged in advising clients in order to assist them in preventing or resolving claims and disputes based upon schedule delays, cost overruns and other problems on construction projects. The Company’s clients consist primarily of the United States and other national governments, state and local governments, and the private sector.