Regional Health Properties Receives Notice of Non-Compliance From NYSE American

Rhea-AI Summary

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.

Positive

• Scheduled the 2022 annual meeting for February 14, 2023, which may restore compliance with NYSE standards.

Negative

• Received a non-compliance notice from NYSE for failing to hold the annual shareholders' meeting by the required date.

ATLANTA--(BUSINESS WIRE)-- Regional Health Properties, Inc. (“Regional” or the “Company”) (NYSE American: RHE) (NYSE American: RHE-PA) announced today that the Company received a notice from NYSE American on January 3, 2023 that the Company is not in compliance with the continued listing standard set forth in Section 704 of the NYSE American Company Guide due to the Company’s failure to hold an annual meeting of shareholders for the fiscal year ended December 31, 2021 on or before December 31, 2022.

The company has scheduled the 2022 annual meeting of shareholders for February 14, 2023 at Sonesta Gwinnett Place Atlanta located at 1775 Pleasant Hill Road, Duluth, Georgia 30096, at 10:00 a.m., local time. The Company believes that once the 2022 Annual Meeting is held, the Company will regain compliance with Section 704 of the NYSE American Company Guide.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond our control. We caution you that the forward-looking statements presented herein are not a guarantee of future events, and that actual events and results may differ materially from those made in or suggested by the forward-looking statements contained herein.

Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Forward-looking statements contained herein include, without limitation, statements regarding the timing of the 2022 annual meeting of shareholders and related expectations and assumptions.

A number of important factors could cause actual events and results to differ materially from those contained in or implied by the forward-looking statements, including those factors discussed in our Annual Report on Form 10-K filed on February 22, 2022 and our Quarterly Report on Form 10-Q filed on November 22, 2022. Any forward-looking statements included herein are made only as of the date hereof, and we do not undertake any obligation to update or revise such statements to reflect any changes in expectations, or any changes in events or circumstances on which those statements are based, except as required by law.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005435/en/

Company Contact

Brent Morrison, CFA

Chief Executive Officer & President

Regional Health Properties, Inc.

Tel (678) 368-4402

Brent.morrison@regionalhealthproperties.com

Investor Relations

Brett Maas

Managing Partner

Hayden IR

Tel (646) 536-7331

brett@haydenir.com

Source: Regional Health Properties, Inc.

FAQ

What caused Regional Health Properties to receive a notice from NYSE?

Regional Health Properties received a notice from NYSE due to its failure to hold an annual meeting of shareholders by December 31, 2022.

When is the 2022 annual meeting for Regional Health Properties scheduled?

The 2022 annual meeting for Regional Health Properties is scheduled for February 14, 2023.

What is the stock symbol for Regional Health Properties?

The stock symbols for Regional Health Properties are RHE and RHE-PA.

What are the implications of the NYSE compliance notice for Regional Health Properties?

The NYSE compliance notice indicates that Regional Health Properties must hold its annual meeting to regain compliance with listing standards.