Regional Health Properties, Inc. Announces Receipt of Notice of Noncompliance from NYSE American
ATLANTA, GA, May 17, 2023 (GLOBE NEWSWIRE) -- Regional Health Properties, Inc. (the “Company,” “we,” “us” or “our”) (NYSE American: RHE) (NYSE American: RHE-PA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, announced today that the Company received a notice from the NYSE American LLC (the “Exchange”) on May 10, 2023 that the Company was not in compliance with the continued listing standard set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”). Specifically, this section requires that a listed company have shareholders’ equity of
The Company intends to prepare and timely deliver a plan of compliance to the Exchange. If the Company does not submit a plan, or if the plan the Company submits is not accepted by the Exchange, the Company will be subject to delisting proceedings as specified in the Company Guide. In addition, if the plan is accepted by the Exchange, but the Company is not in compliance with the continued listing standards by November 10, 2024, or if the Company does not make progress consistent with the plan, the Company will be subject to delisting proceedings. The Company will have the right to appeal any delisting determination made by the Exchange staff. If the plan is accepted, the Company will also be subject to periodic Exchange reviews, including quarterly monitoring for compliance with the plan.
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About Regional Health Properties
Regional Health Properties, Inc., a Georgia corporation, is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care. For more information, visit www.regionalhealthproperties.com.
Company & Investor Relations Contact
Brent Morrison, CFA
Chief Executive Officer & President
Regional Health Properties, Inc.
Tel (678) 368-4402
Brent.morrison@regionalhealthproperties.com