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Bankrate, Inc.
today
announced that, as previously disclosed by the Company in its Form 12b-25
filed with the Securities and Exchange Commission on March 3, 2015, the
Company is unable to timely file its Annual Report on Form 10-K for the year
ended December 31, 2014 pending completion of the previously announced
internal review of the Company's financial statements for each of fiscal years
2011, 2012 and 2013.
The Company also announced that it has received a notice from the New York
Stock Exchange (NYSE) that the Company is not in compliance with the NYSE's
continued listing requirements under the timely filing criteria outlined in
Section 802.01E of the NYSE Listed Company Manual as a result of the Company's
failure to timely file its Annual Report on Form 10-K for the fiscal year
ended December 31, 2014.
The Exchange has informed the Company that, under the NYSE rules, the Company
will have six months, from March 17, 2015 to file its Annual Report on Form
10-K with the SEC. The Company can regain compliance with the NYSE listing
standards prior to such date by filing the Annual Report on Form 10-K with the
Securities and Exchange Commission. If the Company fails to file the Annual
Report on Form 10-K prior to such date, then the NYSE may grant, at its
discretion, a further extension of up to six additional months, depending on
the specific circumstances. The letter from the NYSE also notes that the NYSE
may commence delisting proceedings at any time if the circumstances
warrant. The Company is working to complete its internal review and to file
its Annual Report on Form 10-K as soon as possible.
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