FMI HOLDINGS LTD. 6-K 2009
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
For the month of April 2009
Commission File Number
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F....[ X ]..... Form 40-F...[ ]...
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrants home country), or under the rules of the home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrants security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ ]
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
This report on Form 6-K shall be deemed to be incorporated by reference in the prospectus included in Registration Statement on Form F-3 File No. 333-129943 filed with the Securities and Exchange Commission and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished. Information contained in the attached document contains forward looking information.
Forbes Medi-Tech Provides Update on NASDAQ Listing
VANCOUVER, BC Forbes Medi-Tech Inc. (TSX:FMI; NASDAQ:FMTI) (Forbes or the Company) announced that the Company received a Nasdaq Staff Deficiency Letter dated April 14, 2009 indicating that the Company currently does not meet the minimum requirements regarding stockholders equity for continued listing on the Nasdaq Capital Market as required by Listing Rule 5550(b)(1).
In order to regain compliance, the Company must demonstrate a minimum of USD$2,500,000 in stockholders equity. Nasdaq has provided Forbes with 15 calendar days to submit a plan to regain compliance. If the Companys plan is accepted, then Nasdaq can grant an exception of up to 105 calendar days (or until July 28, 2009) to evidence compliance.
About Forbes Medi-Tech
Forbes Medi-Tech Inc. (TSX:FMI; NASDAQ:FMTI) is a life sciences company focused on evidence-based nutritional solutions. A leader in nutraceutical technology, Forbes is a provider of value-added products and cholesterol-lowering ingredients for use in functional foods and dietary supplements. Forbes successfully developed and commercialized its Reducol™ plant sterol blend, which has undergone clinical trials in various matrices and has been shown to lower LDL cholesterol levels safely and naturally. Building upon established partnerships with leading retailers and manufacturers across the globe, Forbes helps its customers to develop private label and branded products. For more information about Forbes Medi-Tech, please visit www.forbesmedi.com.
Director, Investor Relations and Communications
Phone: (604) 689-5899 ext. 262
Forward Looking Statements
This News Release contains forward-looking statements and forward-looking information, within the meaning of applicable securities laws (collectively, forward-looking statements), regarding the Company's continued listing on Nasdaq. Forward-looking statements can be identified by forward-looking terminology such as if, will, can, up to, July 18, 2009, and similar expressions or variations thereon. Forward-looking statements are inherently uncertain, and actual results may differ materially from the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, uncertainty whether any plan to regain compliance submitted to Nasdaq will be accepted or if accepted, whether the Company will regain compliance with the minimum stockholders equity rule within the timelines required by Nasdaq, failing which, the Company's securities will be delisted by Nasdaq; uncertainty whether the Company would appeal any delisting notice or whether any such appeal would be successful, failing which, the Company's securities will be delisted by Nasdaq; the risk that delisting of the Company's securities may have a material adverse effect on the Company's share liquidity and trading price and on the Company's ability to obtain financing and continue its business; and the risk of changes in business strategy or plans. For a further discussion of these and other known risks and uncertainties affecting the Company and its business, please see our latest Annual Information Form / Form 20-F, and other documents filed by us with Canadian and U.S. securities regulatory authorities at www.sedar.com and www.sec.gov. Forward-looking statements are based on the beliefs, assumptions, and expectations of the Company's management at the time they are made, and the Company does not assume any obligation, except as required by law, to update its forward-looking statements if those beliefs, assumptions, or expectations or other circumstances should change.
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