NEW YORK, Feb. 4 /PRNewswire-FirstCall/ -- 'mktg, inc.' (Nasdaq: CMKG), an alternative marketing and media communications agency, today reported that it received a letter from The Nasdaq Stock Market notifying the Company that it was not in compliance with Nasdaq Listing Rule 5605 because the Company does not have a majority of independent directors and because it has an Audit Committee comprised of less than three directors.
As a result of the director resignations and subsequent appointments previously announced by the Company, 'mktg, inc.' currently has six directors serving on its Board of Directors, three of whom are independent, and an Audit Committee of two members. Pursuant to Nasdaq's Listing Rules, the Company has a cure period lasting until the earlier of its next stockholders meeting or January 21, 2011, or until July 20, 2010 if the Company's next stockholders' meeting is held before then, to regain compliance with Nasdaq's independent director and audit committee requirements. The Company may regain compliance with such requirements by appointing a fourth independent director to its Board who would also serve on its Audit Committee.
About 'mktg, inc.'
'mktg, inc.' (Nasdaq: CMKG) is an alternative media and marketing services company headquartered in New York with full service offices in San Francisco, Chicago, and Cincinnati. The company currently serves a variety of the world's most recognizable brands, and its services include experiential marketing, digital marketing, retail promotions and strategic research and planning. The firm's programs help its clients profitably connect with consumers and create networks of brand advocates to generate brand awareness and higher sales for its customers. For more information, please visit www.mktg.com.
This press release includes statements which constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements.
SOURCE 'mktg, inc.'
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