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Stock Market & Financial Investment News

News Breaks
December 22, 2011
08:17 EDTIHK
theflyonthewall.com: Imperial Sugar regains compliance with listing rule
As previously disclosed, Mr. Yves-Andre Istel resigned from the Imperial Sugar Company’s Board of Directors effective December 5, 2011, reducing to two the number of independent directors on the Company’s Audit Committee. NASDAQ rules require that listed company’s audit committee consist of at least three independent directors. On December 19, 2011, the Company received a letter from NASDAQ indicating that the Company’s Audit Committee no longer complied with its listing rules in this regard and provided a cure period until at least June 4, 2012 to achieve compliance. ..On December 21, Mr. Ronald C. Kesselman, a current independent director, was appointed to serve on the Audit Committee, thus regaining compliance with the listing rule. :theflyonthewall.com



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