Regional Health Properties, Inc. - RHE STOCK NEWS

Regional Health Properties has announced that it regained compliance with the NYSE American continued listing standards as of February 21, 2023. This follows the resolution of a deficiency related to the failure to hold an annual shareholders' meeting for the fiscal year ended December 31, 2021. Consequently, the compliance indicator was removed on February 22, 2023, and the Company is no longer listed among noncompliant issuers. Regional Health Properties operates primarily in senior living and long-term care real estate investments.

On February 17, 2023, Regional Health Properties, Inc. (RHE) announced the declaration of a dividend of one one-thousandth of a share of its Series E Redeemable Preferred Shares for each outstanding share of common stock. This dividend is payable on February 28, 2023, to shareholders of record by 5 p.m. Eastern Time on February 27, 2023. The Series E Preferred Stock will have significant voting rights, allowing 1,000,000 votes per share concerning specific amendments to the Company’s Articles of Incorporation. Additionally, unredeemed shares at a shareholder meeting will automatically be redeemed by the Company. More details will follow in a Form 8-K filing with the SEC.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) announced on January 3, 2023, that it received a notice from NYSE American for failing to hold an annual shareholders' meeting by December 31, 2022. The Company plans to hold the delayed 2022 annual meeting on February 14, 2023, in Duluth, Georgia. Post-meeting, Regional expects to regain compliance with NYSE listing standards. The press release also includes forward-looking statements regarding the timing of the meeting and associated expectations.

Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) held a special meeting on July 25, 2022, to discuss several proposals regarding its Series A and Series B Preferred Stocks. The Preferred Series A Charter Amendment and Series B Preferred Stock proposals were approved, while the Common Charter Amendment proposal was rejected, preventing the implementation of the amendments. Additionally, the Company terminated its Exchange Offer for Series A Preferred Stock due to the lack of requisite shareholder approval, leaving the Series A Preferred Stock unchanged and outstanding.

ISS has recommended that Regional Health Properties' common shareholders vote in favor of Proposals 1 and 2 at the Special Meeting on July 25, 2022. Proposal 1 aims to amend the Series A Preferred Stock terms and increase the number of authorized shares from 60 million to 61 million, providing advantages like reducing liquidation preferences and deferring dividend accumulation. Proposal 2 seeks to approve adjournments for additional votes if necessary. The board emphasizes voting to benefit capital raising and strategic initiatives.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) convened a Special Meeting on May 31, 2022 for holders of its Series A Preferred Stock and Common Stock. The meeting was adjourned to July 25, 2022, allowing additional time to solicit votes for required proposals. An Exchange Offer is ongoing, extending the deadline to July 25, 2022, enabling Series A holders to exchange shares for 12.5% Series B Preferred Shares. As of May 31, 2022, 2,307,609 shares were tendered.

Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) announced noncompliance with NYSE American's listing standards after failing to file its Q1 2022 report on time. The notice was received on May 24, 2022, stating that the delayed filing was required by May 23, 2022. The company is currently working on completing the report and plans to file it within 30 days. If not rectified, the company may face delisting procedures. The company's stock will continue to trade under symbols ‘RHE’ and ‘RHE-PA’ but will be marked as a late filer.