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DALLAS, May 15, 2020 (GLOBE NEWSWIRE) — Hallmark Financial Services, Inc. (“Hallmark Financial” or “the Company”) (NASDAQ: HALL), a specialty acreage and blow allowance company, today appear that it accustomed apprehension from Nasdaq on May 13, 2020 that, as a aftereffect of the Company’s abortion to appropriate book its Form 10-Q for the aeon concluded March 31, 2020 and because it charcoal behind in filing its Form 10-K for the year concluded December 31, 2019, the Aggregation is not in acquiescence with Nasdaq’s Advertisement Rule 5250(c)(1).  As a result, the Aggregation has until May 28, 2020 to abide an amend to its aboriginal plan to achieve acquiescence with the filing requirements.  If such adapted plan is accepted, Nasdaq may admission an addendum until up to September 14, 2020, to achieve compliance.



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The apprehension from Nasdaq has no actual aftereffect on the advertisement of the Company’s accepted banal on the Nasdaq Global Market. 



The Aggregation intends to appropriate abide a plan to achieve acquiescence with Nasdaq’s advertisement rules and to assignment agilely to achieve acquiescence with such advertisement rules aural any addendum aeon accepted by Nasdaq.  However, there can be no affirmation that Nasdaq will acquire the Company’s plan to achieve acquiescence or that the Aggregation will be able to achieve acquiescence aural any addendum aeon accepted by Nasdaq.  If the Aggregation fails to appropriate achieve acquiescence with Nasdaq’s advertisement rules, the accepted banal of the Aggregation will be accountable to delisting on the Nasdaq Global Market.



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The Aggregation anon expects to book its Form 10-K for the year concluded December 31, 2019 in June 2020, and to book its Form 10-Q for the division concluded March 31, 2020 aural several weeks thereafter.  However, abrupt issues could appear that would adjournment these projected filing dates.  Further, the accepted COVID-19 communicable creates added uncertainties apropos the availability of cadre and concrete admission to abstracts that could additionally adjournment these projected filing dates.

About Hallmark Financial

Hallmark Financial is a specialty acreage and blow allowance aggregation with a adapted portfolio of allowance articles accounting on a civic platform. With six allowance subsidiaries and offices in Dallas-Fort Worth, Atlanta, Chicago, Jersey City, and San Antonio, Hallmark Financial markets, underwrites and casework over $750 actor annually in bartering and claimed allowance premiums in baddest markets. Hallmark Financial is headquartered in Dallas, Texas and its accepted banal is listed on NASDAQ beneath the attribute “HALL”.  

This columnist absolution contains “forward-looking” statements aural the acceptation of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements accompanying to the Company’s absorbed to achieve acquiescence with Nasdaq’s connected advertisement standards.  These advanced statements are based on accepted expectations that absorb abundant risks, uncertainties and assumptions, abounding of which are above the ascendancy of the Company.  Although the Aggregation believes the assumptions basal these advanced statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no affirmation that any advanced statements will prove to be correct.  In ablaze of the cogent uncertainties inherent in these advanced statements, the admittance of such advice should not be admired as a representation that the objectives and affairs of the Aggregation will be achieved.

Investor ContactDavid WebbSenior Vice President, Corporate Development & Strategydwebb@hallmarkgrp.com817.348.1600

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Last Updated: May 16th, 2020 by admin
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