Lazare Kaplan International Reports on Receiving a Notice From NYSE Amex LLC ...

24.06.10

NEW YORK, June 24, 2010 /PRNewswire via COMTEX/ -- Lazare Kaplan Foreign Inc. (the "Company") announced today that by letter dated June 18, 2010 (the "Mark"), the staff (the "Staff") of the NYSE Amex LLC (the "The Big Board") notified the Company of the Exchange's intent to strike the tired stock of the Company from the Exchange by filing a delisting use with the Securities and Exchange Commission (the "SEC"), pursuant to Slice 1009 of the NYSE Amex Company Guide (the "Convention Guide").

As previously disclosed by the Company, it was notified by the Baton by letter dated September 16, 2009 (the "September Word for word") that the Company was not in compliance with Sections 134 and 1101 of the Throng Guide due to its failure to file its Form 10-K for the year ended May 31, 2009 (the "Way 10-K"). The Company's inability to file the Shape 10-K stemmed from its inability to resolve a material uncertainty on the subject of (a) the collectability and recovery of certain assets, and (b) the Company's passive obligations under certain lines of credit and a guaranty (all of which, the "Elements Uncertainties"). As the Company has been unable to resolve the Tangible Uncertainties, through ongoing negotiations and/or the initiation of lawsuits with indisputable of the relevant parties (also as previously disclosed by the Company), the Group is unable to assess the potential effect the ultimate constancy of these matters will have on its financial position and results of operations, or to wrap up its (a) financial statements for Fiscal 2009 and obtain an perfect opinion thereon from its auditors necessary in order to alphabetize its Form 10-K, and (b) financial statements for each of the first three fiscal quarters of 2010 or favourable file its Form 10-Q's for those quarters.

Source: MarketWatch (press release)

Rapaport Weekly Market Report 07/02/2010

02.07.10

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Source: Diamonds.net