Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On
In accordance with applicable NYSE procedures, the Company has 45 days from receipt of the Notice to submit a business plan advising the NYSE of the definitive action(s) the Company has taken, or is taking, that would bring it into compliance with continued listing standards within 18 months of receipt of the Notice. The NYSE will review the plan and, within 45 days of its receipt, determine whether the Company has made a reasonable demonstration of an ability to conform to the relevant standards in the 18-month period. If the NYSE accepts the plan, the Company's common stock will continue to be listed and traded on the NYSE during the 18-month period, subject to the Company's compliance with the other continued listing standards of the NYSE and continued periodic review by the NYSE of the Company's progress with respect to its plan.
The Notice has no immediate impact on the listing of the Company's common stock, which will continue to be listed and traded on the NYSE during the applicable cure period, subject to the Company's compliance with the other continued listing requirements of the NYSE. The Company's common stock will continue to trade on the NYSE under the symbol "KLR" with the designation of ".BC" to indicate the status of the shares as "below criteria."
The Notice does not affect the Company's reporting obligations with the
The NYSE also confirmed in the Notice that the Company has regained compliance
with the average closing price continued listing criteria. The NYSE previously
notified the Company on
- 2 -
--------------------------------------------------------------------------------
Item 7.01 Regulation FD Disclosure
As required under the NYSE rules, the Company issued a press release on
The information contained in, or incorporated into, this Item 7.01 of this Report, including Exhibit 99.1 attached hereto, is furnished under Item 7.01 of Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act regardless of any general incorporation language in such filings.
This Report shall not be deemed an admission as to the materiality of any information in this Report that is being disclosed pursuant to Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits. The exhibits required by this item are set forth on the Exhibit Index attached hereto. Exhibit Number 99.1 Press Release datedApril 6, 2023 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). - 3 -
--------------------------------------------------------------------------------
© Edgar Online, source