Full Press Release Details
ANNOUNCES RECEIPT OF NASDAQ DEFICIENCY LETTER
Houston, Texas, August 10, 2007
SPACEHAB, Incorporated (NASDAQ: SPAB), a leading provider of commercial space
services, today announced that as a result of the resignation of Dr. Edward E.
David Jr. as a director of SPACEHAB, Inc. effective July 31, 2007, the Company
received a letter from The Nasdaq Stock Market notifying the Company that it no
longer complies with the Nasdaq independent director requirements.
Consistent with Marketplace Rule 4350(c)(1), which requires
that a majority of the board of directors consist of independent directors,
Nasdaq will provide the Company a cure period in order to regain compliance
until the earlier of the Company s next annual shareholder s meeting, or July
31, 2008; or if the next annual shareholder s meeting is held before January 28,
2008, then the Company must evidence compliance no later than January 28, 2008.
SPACEHAB s fiscal year ended on June 31, 2007 and
historically, the Company has held its annual meeting in November or December.
If the Company fails to regain compliance within this cure period, its common
stock is subject to delisting upon notification of such a determination by
Nasdaq staff, which determination may be appealed.
About SPACEHAB, Incorporated
Incorporated in 1984,
SPACEHAB (www.spacehab.com) is a leading provider of commercial space
products and services to NASA, international space agencies and universities, Department
of Defense, and private customers
worldwide. The Company offers end-to-end space access solutions, space systems
development, mission integration and pre-launch processing facilities and
services, and large-scale government program support services.
statements in this document may contain forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject to
risks, trends, and uncertainties that could cause actual results to be
materially different from the forward-looking statement. These factors include,
but are not limited to, continued government support and funding for key space
programs, product performance and market acceptance of products and services,
as well as other risk factors and business considerations described in the
company s Securities & Exchange Commission filings including the annual
report on Form 10-K. Any forward-looking statements in this document should be
evaluated in light of these important risk factors. The Company assumes no
obligation to update these forward-looking statements.
FOR MORE INFORMATION:
Eva-Marie deCardenas
Corporate Marketing and Communications