Business Context and Reporting Period
This Form 8-K was filed by Oxbridge Re Holdings Limited on December 8, 2021. The report addresses a compliance matter regarding the composition of the Company's Audit Committee under Nasdaq Listing Rule 5605(c)(2)(A).
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and listing compliance rather than financial performance.
Material Changes
The Company reported a temporary non-compliance with Nasdaq audit committee requirements:
- Resignation: Dr. Mayur Patel resigned from the board and the Audit Committee effective June 30, 2021.
- Appointment: Ms. Lesley Thompson was appointed to the Audit Committee on November 12, 2021, restoring compliance with independence and eligibility requirements.
- Regulatory Notification: On December 8, 2021, Nasdaq notified the Company that the Audit Committee did not comply with rules during the period from June 30, 2021, to November 12, 2021.
Outlook, Risks, and Management Commentary
Nasdaq Staff determined that the Company is now in compliance with the relevant rule following the appointment of Ms. Thompson. The matter is considered closed subject to the filing of this report. No forward-looking guidance, risks, or unusual financial items were disclosed in this filing.
Investor Verification Checklist
- Confirm the current composition of the Audit Committee to ensure ongoing compliance with Nasdaq Listing Rule 5605.
- Verify that Ms. Lesley Thompson meets all independence and eligibility requirements as an Audit Committee member.
- Review the July 6, 2021 Form 8-K for details regarding Dr. Mayur Patel's resignation.