Orion Energy Systems: Approval from NYSE Amex
Orion Energy Systems, Inc., a leading power technology enterprise, announced that it has received a notice from NYSE Amex LLC (the "Exchange"), indicating that the Company's plan of compliance was accepted. As the Company previously announced in a press release on February 14, 2012, the Company had received a notice from NYSE Amex LLC (the "Exchange"), indicating that the Company was not in compliance with the Exchange's continued listing criteria set forth in Sections 134 and 1101 of the NYSE Amex LLC Company Guide because it did not timely file its Quarterly Report on Form 10-Q for its fiscal 2012 third quarter ended December 31, 2011.
In order to maintain its Exchange listing, the Company was afforded the opportunity to submit a plan of compliance to the Exchange and on February 15, 2012 presented its plan to the Exchange. On March 26, 2012, the Exchange notified the Company that it accepted the Company's plan of compliance and granted the Company an extension until June 15, 2012 to regain compliance with the continued listing standards. The Company will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE Amex LLC.
Orion Energy Systems, Inc. (NYSE Amex: OESX) is a leading power technology enterprise that designs, manufactures and deploys energy management systems — consisting primarily of high-performance, energy efficient lighting platforms, intelligent wireless control systems and direct renewable solar technology for commercial and industrial customers — without compromising their quantity or quality of light. For more information, visit www.oesx.com.
Orion Energy Systems, Inc.
Investor Relations Contact:
Scott Jensen, Chief Financial Officer
Source: Orion Energy Systems, Inc.