VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) 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 Rule or Standard; Transfer of Listing
VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On January 5, 2017 Vestin Realty Mortgage II, Inc., a Maryland corporation (the “Company”) received a letter from NASDAQ that the Company had not yet held an annual meeting of shareholders within twelve months of the end of the Company’s 2015 fiscal year end and no longer complies with NASDAQ’s Listing Rules (the “Rules”) for continued listing.
Under the NASDAQ Rules, the Company now has 45 calendar days to submit a plan to regain compliance and if the plan is accepted, NASDAQ can grant an exception of up to 180 calendar days until June 29, 2017, to regain compliance.
The Company has submitted preliminary proxy material to the Securities and Exchange Commission and plans on filing its definitive proxy on or about January 17, 2017 which will be the record date for shareholders entitled to vote at the annual meeting. In addition, the Company has set the meeting date for March 9, 2017.
About VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB)
Vestin Realty Mortgage II, Inc. (VRM II), formerly Vestin Fund II, LLC, is a real estate investment trust (REIT). The Company invests in loans secured by real estate through deeds of trust or mortgages. It also invests in, acquires, manages and sells real property and acquires entities involved in the ownership or management of real property. It operates through three segments: investments in real estate loans, investments in real property and investment in a real estate management company. Its objective is to invest approximately 97% of its assets in real estate loans and real estate related investments, while maintaining over 3% as a working capital cash reserve. Vestin Mortgage, LLC (Vestin Mortgage) is the manager of the Company. It has investments in approximately six commercial real estate loans in Arizona, Nevada and Ohio, which consists of office buildings. It also owns an interest in over four office buildings located in Nevada. VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) Recent Trading Information
VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) closed its last trading session down -0.04 at 2.52 with 20,829 shares trading hands.
Vestin Realty Mortgage II, Inc. (VRM II), formerly Vestin Fund II, LLC, is a real estate investment trust (REIT). The Company invests in loans secured by real estate through deeds of trust or mortgages. It also invests in, acquires, manages and sells real property and acquires entities involved in the ownership or management of real property. It operates through three segments: investments in real estate loans, investments in real property and investment in a real estate management company. Its objective is to invest approximately 97% of its assets in real estate loans and real estate related investments, while maintaining over 3% as a working capital cash reserve. Vestin Mortgage, LLC (Vestin Mortgage) is the manager of the Company. It has investments in approximately six commercial real estate loans in Arizona, Nevada and Ohio, which consists of office buildings. It also owns an interest in over four office buildings located in Nevada. VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) Recent Trading Information
VESTIN REALTY MORTGAGE II, INC (NASDAQ:VRTB) closed its last trading session down -0.04 at 2.52 with 20,829 shares trading hands.
