Hain Celestial Receives Expected Nasdaq Notice
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LAKE SUCCESS, N.Y., March 6, 2017 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) announced today that, as expected, it received a letter dated February 28, 2017 from the Staff of the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq") notifying the Company that it has not regained compliance with NASDAQ Listing Rule 5250(c)(1) (the "Rule"), the continued listing requirement to timely file all required periodic reports with the Securities and Exchange Commission (the "SEC"), and, therefore, that its common stock would be subject to delisting unless the Company timely requests a hearing before a NASDAQ Hearings Panel (the "Panel"). The Company fully intends to timely request a hearing before the Panel to present its plan for regaining compliance with the Rule and request continued listing pending its return to compliance.
The Company will present to the Panel, which will make a decision based on the plan for regaining compliance submitted and the Company's presentation, to grant the Company an extension of time within which to regain compliance with the Rule for a period of up to 360 days from the original due date of the Company's first late filing.
Upon the filing of its Annual Report on Form 10-K for the period ended June 30, 2016 and its Quarterly Reports on Form 10-Q for the periods ended September 30, 2016 and December 31, 2016 with the SEC, the Company will regain compliance with the Rule. The Company is working toward a conclusion in its financial reporting process.