On June 12, 2018, Nasdaq Listing Qualifications staff (Staff) notified
Liberty Tax Inc. (Company) that it determined to delist the Company
based on Rule 5250(c).  On June 19, 2018, the Company exercised its right
to appeal the Staff's determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Rule 5815.  A Panel hearing was held on
June 19, 2018.  On July 31, 2018, the Panel issued a decision to delist
the Companys securities. On August 15, 2018, the Company exercised its
right to appeal the Panel decision to the Nasdaq Listing and Hearing
Review Council (Council) pursuant to Rule 5820(a).  On October 18, 2018,
the Council issued a decision that affirmed the Panel decision to delist
the Companys securities.  On November 7, 2018, the Company was provided
notice that the Nasdaq Board of Directors declined to call the Council
decision for review pursuant to Rule 5825(a).