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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Leading Brands (delisted) | NASDAQ:LBIX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.15 | 1.15 | 1.16 | 0 | 01:00:00 |
On May 24, 2018, the Board of Directors of the Company appointed the Company’s Chief Executive Officer, President and Chairman, Ralph D. McRae, to the audit committee in response to the passing of the Company’s former audit committee member, Mr. Stephen Fane, on November 10, 2017. Pursuant to Canadian securities laws, there is an exemption from the independence requirements for the composition of a company’s audit committee when filling a vacancy resulting from the death of an audit committee member. However, as Mr. McRae is an executive officer he does not meet the criteria for independence set forth in SEC Rule 10A-3(b)(1), and is not eligible to sit on the audit committee under the Nasdaq Listing Rules.
On July 9, 2018, Mr. McRae resigned from the audit committee, and therefore the Company has regained compliance with the rules. As a result, the Company was advised by the Staff that it considers this matter closed.
Ralph D. McRae
Ralph D. McRaeChairman & CEO
CONTACT:Leading Brands, Inc. Email: info@LBIX.com
1 Year Leading Brands Chart |
1 Month Leading Brands Chart |
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