The RMR Group Inc. (NASDAQ:RMR) Files An 8-K Other Events
Item 8.01. Other Events.
with the Securities and Exchange Commission (the SEC) on July 8,
2016, the death of Mr. Frederick N. Zeytoonjian, one of the
Companys Independent Directors, reduced the number of Directors
then serving on the Companys Audit Committee to two. As a result,
the Company became noncompliant with Rule 5605(c)(2) of the
listing rules of The NASDAQ Stock Market LLC (Nasdaq). That rule
requires that the audit committee of a Nasdaq-listed company have
at least three members, each meeting independence and certain
other criteria. On July 8, 2016, the Company received notice of
the noncompliance from Nasdaq advising that, in accordance with
Nasdaq Listing Rule 5605(c)(4), the Company was entitled to a
cure period until the earlier of the Companys next annual
shareholders meeting or June 24, 2017, to regain compliance.
shareholders. At that meeting, Rosen Plevneliev was elected to
the Companys Board of Directors. That same day, following Mr.
Plevnelievs election, the Companys Board of Directors appointed
him to the Companys Audit Committee, thereby increasing the
number of directors meeting the applicable Audit Committee
independence requirements to three. On April 3, 2017, the Company
received notice from Nasdaq that the Company is in compliance
with Rule 5605(c)(2) as a result of Mr. Plevnelievs election as
Director and appointment to the Audit Committee. A copy of the
April 3, 2017 Nasdaq notice is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.
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99.1
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Letter of Compliance with Listing Rule 5605 from The
NASDAQ Stock Market LLC, dated April 3, 2017. |
About The RMR Group Inc. (NASDAQ:RMR)
The RMR Group Inc. is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings. As of June 30, 2016, RMR LLC managed over 1,300 properties, which were located in 48 states, Washington, District of Columbia, Puerto Rico and Canada. The RMR Group Inc. (NASDAQ:RMR) Recent Trading Information
The RMR Group Inc. (NASDAQ:RMR) closed its last trading session down -0.10 at 49.55 with 38,169 shares trading hands.
