VERSAR, INC. (NYSEMKT:VSR) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01
Rule or Standard; Transfer of Listing
Inc. (the Company) reported that it had received a letter from
NYSE MKT LLC (the Exchange) stating that the Company is not in
compliance with Sections134 and 1101 of the Exchanges Company
Guide (the Company Guide) due to the Companys failure to timely
file with the Securities and Exchange Commission (SEC) its Annual
Report on Form10-K for the year ended July1, 2016. Subsequently,
the Company also failed to file its Quarterly Report on Form10-Q
for the quarter ended September30, 2016, constituting an
additional compliance issue under Sections134 and 1101 of the
Company Guide. to the requirements of the Exchanges letter, the
Company submitted a plan of compliance to the Exchange on
November16, 2016.
Exchange indicating that the Exchange has accepted the Companys
plan and extension request and granted the Company an extended
plan period through May 31, 2017 to restore compliance under the
Company Guide. The staff of the Exchange will review the Company
periodically for compliance with the initiatives outlined in its
plan. If the Company is not in compliance with the continued
listing standards by May31, 2017 or if the Company does not make
progress consistent with the plan during the plan period, the
Exchange staff has indicated that it would initiate delisting
proceedings as appropriate.
stating that it had received the letter from the Exchange.
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(d)
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Exhibit 99.1 Press Release dated December20, 2016.
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About VERSAR, INC. (NYSEMKT:VSR)
Versar, Inc. is a global project management company providing solutions to government and commercial clients primarily in three business segments: Engineering and Construction Management (ECM), Environmental Services (ESG), and Professional Services (PSG). The Company also provides tailored solutions in harsh environments and offers specialized abilities for classified projects and hazardous materials management. ECM performs Title I Design Services, Title II Construction Management Services and Title III Construction Services. ESG provides full service environmental solutions for project life cycles ranging from a few weeks to more than 15 years in duration and includes Remediation, Compliance, Natural Resources, Cultural Resources, and Unexploded Ordnance/Military Munitions Response Program (UXO/MMRP) Technical Service Areas (TSAs). PSG provides onsite environmental management, planning and engineering services to the Department of Defense (DOD) installations. VERSAR, INC. (NYSEMKT:VSR) Recent Trading Information
VERSAR, INC. (NYSEMKT:VSR) closed its last trading session up +0.04 at 1.49 with 7,517 shares trading hands.