Brooke Capital Corporation to Prepare Financial Plan for AMEX Compliance
October 03 2008 - 4:16PM
Marketwired
Brooke Capital Corporation (AMEX: BCP) (the "Company") announced
today that, on September 30, 2008, the Company was notified by the
Director of Listing Qualifications of the American Stock Exchange
("AMEX") that its review of the Company's publicly-available
information indicated that the Company was not in compliance with
Section 1003(a)(iv) of the AMEX Company Guide (the "Company Guide")
in that it has sustained losses which are so substantial in
relation to its overall operations or its existing financial
resources or its financial condition has become so impaired that it
appears questionable, in the opinion of AMEX, as to whether it will
be able to continue operations and/or meet its obligations as they
mature. The Company has therefore become subject to the procedures
and requirements of Section 1009 of the Company Guide.
In order to maintain its AMEX listing, the Company will be
required to submit a plan to AMEX by October 30, 2008 addressing
how it intends to regain compliance with Section 1003(a)(iv) of the
Company Guide by March 30, 2009 (the "Plan"). If the Company does
not submit the Plan, or if the Plan is not acceptable, the Company
may be subject to delisting proceedings. Furthermore, if the Plan
is acceptable but the Company is not in compliance with all the
continued listing standards of the Company Guide by March 30, 2009,
or if the Company does not make progress consistent with the Plan
during the plan periods, the Company may be subject to delisting
proceedings at the discretion of the staff of AMEX. The Company
currently intends to submit the Plan for continued listing to AMEX
on or before October 30, 2008.
About Brooke Corporation
Brooke Capital Corporation (AMEX: BCP) is a Phillipsburg,
Kansas-based insurance agency franchisor and consultant.
This press release contains forward-looking statements. All
forward-looking statements involve risks and uncertainties, and
several factors could cause actual results to differ materially
from those in the forward-looking statements. The following
factors, among others, could cause actual results to differ from
those indicated in the forward-looking statements: the uncertainty
that the Company will prepare a financial plan for AMEX compliance,
whether the plan will be acceptable to AMEX, whether the Company
will perform according to the plan, the availability of funding
sources, the exposure to market risks, changes in the law and in
economic, political and regulatory environments, changes in
management, the effectiveness of internal controls, and risks and
factors described from time to time in reports and registration
statements filed by the Company with the Securities and Exchange
Commission. A more complete description of the Company's business
is provided in the Company's reports and registration statements,
which are available from the Company without charge at
www.brookeagent.com or at www.sec.gov.
Investor Relations Contact Lisa Mussman 785-543-3199 ext. 561
Email Contact
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