UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

 Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  March 8, 2012

 

OHIO LEGACY CORP

(Exact name of registrant as specified in its charter)

         
Ohio   000-31673   34-1903890

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

600 South Main Street

North Canton, Ohio 44720


(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code :  (330) 499-1900

 


 (Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

£  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

£  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))

 

 
 

 

 

ITEM 3.01 Failure to Satisfy a Continued Listing Rule or Standard

 

Ohio Legacy Corp received a notification letter from The Nasdaq Stock Market on March 8, 2012 indicating that effective March 7, 2012, the Company no longer meets the requirement under Rule 5550(a)(2) that its securities maintain a minimum bid price of $1.00 per share. Under Rule 5810(c)(3)(A), the Company has a grace period of 180 days in which to regain compliance. If at any time from the date of this notification until September 4, 2012 the bid price of the Company’s shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance with Rule 5550(a)(2).

 

In the event the Company does not regain compliance with Rule 5550(a)(2) prior to the expiration of the grace period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards under Rule 5505, with the exception of bid price, for The Nasdaq Capital Market. If the Company meets the initial listing criteria, it will receive written notification that it has been granted an additional 180 calendar day compliance period.

 

 

SIGNATURES

 

 

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 hereunto duly authorized.

 

 

Dated: March 12, 2012

 

 

OHIO LEGACY CORP

 

 

 

 

By: /s/ Rick L. Hull

Rick L. Hull

  President and Chief Executive Officer