Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On October 1, 2009, Quiksilver, Inc. (the "Company") filed with the New York
Stock Exchange (the "NYSE") a written affirmation notifying the NYSE that, due
to the appointment of two additional directors to the Company's board of
directors in connection with the previously announced financing provided to the
Company by the Rhône Group, only four of the Company's eight directors have been
identified as independent. Accordingly, the Company's board of directors does
not satisfy Section 303A.01 of the NYSE Listed Company Manual, which requires
that the board of directors of a listed company be comprised of a majority of
independent directors, each of whom satisfies the independence requirements set
forth in Section 303A.02.
In order to cure the deficiency described in the previous paragraph, the
Company intends to appoint a new independent director to the Board. The Company
is in the process of evaluating potential candidates and expects to appoint a
new independent director within the next 30 to 60 days.
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