Shenandoah TelecommunicationsCo. will be unable to comply with Nasdaq Stock Market LLC's listingrules due to the resignation of Jonelle St. John, effective April 15, from its board.
St. John notified the company of her intent to resign from theboard April 8. As a consequence, the company will be unable to comply with the Nasdaqlisting rule that requires the audit committee of a listed company to be composedof at least three independent directors.
The company said in a Form 8-K filed April 12 that an independentboard member is expected to be appointed to the audit committee within the cureperiod specified in the exchange's listing rules.
Additionally, Shenandoah said the board amended the company'sbylaws to decrease the size of the board to eight members from nine due to the vacancyresulting from St. John's resignation.