LANCASTER, N.Y., May 13, 2019 (GLOBE NEWSWIRE) -- Ecology and Environment Inc. (Nasdaq: EEI) (E & E, or the “Company”) announced that the Company was unable to meet the deadline granted by the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) related to delinquencies in filing its Annual Report on Form 10-K for the fiscal year ended July 31, 2018 and its Quarterly Reports on Form 10-Q for the periods ended October 27, 2018 and January 26, 2019 (the “Delinquent Reports”). Under the terms of an exception previously granted by Nasdaq, the Company was required to file the Delinquent Reports with the Securities and Exchange Commission (“SEC”) on or before today’s date to regain compliance with Nasdaq Listing Rule 5250(c)(1).
E & E anticipates that it will receive a letter from Nasdaq advising the Company of its continued non-compliance. The Company will respond in a timely manner to the letter, once received, and will take all necessary measures to regain compliance and retain its listing status. There will be no immediate impact on the listing or trading of the Company’s common stock on Nasdaq. E & E continues to work diligently to complete the Delinquent Reports and file them with the SEC.
The Company also announced today the resignation of JoAnn Shea, its Chief Administrative Officer, effective May 17, 2019. Ms. Shea joined the Company in August 2018 with responsibility for oversight of the Company’s accounting and finance, human resources, and information technology functions, and served as a member of E & E’s Operations Committee. “We thank JoAnn for sharing her talents with E & E and for leading many initiatives to improve our cost structure and operations, and we wish her well in her future endeavors,” said Marshall A. Heinberg, Executive Chairman of the Company. “We are also pleased to announce that Kurt Zmich, Senior Vice President of U.S. Operations, will join E & E’s Operations Committee. Kurt has played a key role in driving improved performance as we continue to work towards greater growth and exceptional service to our clients.”
About E & E
E & E is a global network of innovators and problem solvers, dedicated professionals and industry leaders in scientific, engineering, and planning disciplines working collaboratively with clients to develop technically sound, science-based solutions to the leading environmental challenges of our time. The company is listed on the Nasdaq Stock Exchange under the ticker symbol EEI and the information in this release can be found online at www.ene.com.
Contact:
Sara Herrmann
Corporate Communications Manager
(716) 684-8060
sherrmann@ene.com
