North Carolina
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52-2329563
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
(1) On or before November 18, 2011, the Company must provide the Hearings Panel with a complete and detailed update on its progress toward compliance and outstanding regulatory, banking, and other issues to be resolved or steps to be completed before it can file its delinquent filings with the Securities and Exchange Commission ("SEC"). The Company may be delisted from The Nasdaq Stock Market if the Company faces significant impediments to compliance at that time.
(2) On or before December 5, 2011, the Company must file all of its SEC periodic reports that are delinquent as of that date, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and its Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2011, June 30, 2011, and September 30, 2011, and any required restatements.
The Company must be able to demonstrate compliance with all requirements for continued listing on The Nasdaq Stock Market. If the Company is unable to do so, its securities may be delisted from Nasdaq.
The Company appeared before the Nasdaq Hearings Panel on August 4, 2011, for the purpose of appealing the determination of the Nasdaq Listing Qualifications Department that the Company's securities should be delisted from The Nasdaq Stock Market. The Company is subject to delisting because it has not filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2010, or its Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2011, and June 30, 2011, with the SEC. On August 4, 2011, the Hearings Panel granted the Company's request to remain listed on Nasdaq, subject to the condition that the Company file all of its delinquent filings with the SEC on or before September 27, 2011. On September 26, 2011, the Company notified the Panel that it would be unable to meet the September 27 exception deadline. On September 27, 2011, the Company provided additional information in support of a request that the Panel extend the exception period until December 5, 2011.
Waccamaw Bankshares, Inc.
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Date: October 04, 2011
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By:
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/s/ David A. Godwin
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David A. Godwin
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Senior Vice President and Chief Financial Officer
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