PBiz Announces Changes to Its Board of Directors.NASHVILLE Nashville, city (1990 pop. 487,969), state capital, coextensive with Davidson co., central Tenn., on the Cumberland River, in a fertile farm area; inc. as a city 1806, merged with Davidson co. 1963. , Tenn. -- Private Business, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PBIZ), ("PBiz") today announced that it has made the following changes to the composition of its board of directors: Lynn Lynn, city (1990 pop. 81,245), Essex co., E Mass.; inc. as a town 1631, as a city 1850. Lynn is an old industrial center. The first ironworks (1643) and the first fire engine (1654) in the country were built there. Boggs, the current Chief Executive Officer of PBiz, has been appointed to the PBiz board of directors, and Glenn Sturm and Henry Baroco have resigned from the PBiz board of directors. Because Mr. Sturm served on the Board's three-person Audit Committee, PBiz notified The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. , Inc. ("Nasdaq") that it is currently not in compliance with the audit committee requirements set forth in Nasdaq Marketplace Rule 4350 for continued listing and indicated that it would rely upon the cure period in Nasdaq Marketplace Rule 4350(d)(4)(b) to fill the vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. by the earlier of its next annual meeting of shareholders or December 12, 2006. In response, Nasdaq provided PBiz with an automatic notification, dated December 13, 2005, confirming the foregoing. Lynn Boggs, the Chief Executive Officer of PBiz, stated, "Rather than rush to file the vacant board seat immediately, we intend to conduct a careful search for a qualified candidate to fill this vacancy. Hopefully, we will accomplish this task in a short amount of time." About PBiz Private Business, Inc. (PBiz) is a leading supplier of financial technology to community financial institutions and middle-market businesses. The Company is headquartered in Brentwood, Tennessee Brentwood is a city in Williamson County, Tennessee, United States. The population was 23,445 as of the U.S. Census Bureau's 2000 census, and as of 2007, Brentwood's population has increased to over 30,000. Brentwood is an affluent Nashville suburb. , and its common stock trades on The Nasdaq Stock Market under the symbol PBIZ. Certain statements made in this press release may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the company is unable to predict or control, that may cause the company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with the company's ability to find a replacement director, replace its senior credit facility, to achieve its growth plans and to identify or complete acquisitions. These risks and uncertainties are in addition to other factors detailed from time to time in the company's filings with the Securities and Exchange Commission. The company cautions investors that any forward-looking statements made by the company are not necessarily indicative of future performance. The company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the services. Additional information on this Company can be found on the World Wide Web http://www.pbizinc.com |
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