LAKE SUCCESS, N.Y.,
Nov. 3, 2016 /PRNewswire/ -- The Hain
Celestial Group, Inc. (NASDAQ: HAIN), a leading organic and
natural products company with operations in North America, Europe and India providing consumers with A Healthier Way
of Life™, announced today that the Listing Qualifications Staff
(the "Staff") of The NASDAQ Stock Market LLC ("Nasdaq") has granted
the Company's request for an exception to Nasdaq's filing
requirement, as set forth in Nasdaq Listing Rule 5250(c)(1) (the
"Rule"), which requires the timely filing of all periodic financial
reports with the Securities and Exchange Commission (the
"SEC").
As previously disclosed, on August 31,
2016, the Company received a letter from the Staff of Nasdaq
as a result of the Company's inability to timely file its Annual
Report on Form 10-K for the fiscal year ended June 30, 2016 with the SEC by August 29, 2016, as required under the
Rule.
On October 31, 2016, the Company
timely submitted to Nasdaq its plan to regain compliance with the
Rule and, on November 2, 2016, the
Company received formal notice from the Staff that the Company had
been granted an extension, through February
27, 2017, to file its periodic reports with the SEC.
The Company and the Audit Committee of the Company's Board of
Directors are continuing to work diligently to complete the
previously announced independent review and audit process relating
to the 2016 fiscal year such that the Company is in a position to
file its Annual Report on Form 10-K for the fiscal year ended
June 30, 2016 with the SEC as soon as
possible and to thereby evidence compliance with the
Rule.
Safe Harbor Statement
Certain statements contained in
this press release constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are predictions based on
expectations and projections about future events, and are not
statements of historical fact. You can identify
forward-looking statements by the use of forward-looking
terminology such as "plan", "continue", "expect", "anticipate",
"intend", "predict", "project", "estimate", "likely", "believe",
"might", "seek", "may", "remain", "potential", "can", "should",
"could", "future" and similar expressions, or the negative of those
expressions. These forward-looking statements include the
Company's beliefs or expectations relating to the Company's
expectations relating to the filing of the Company's Annual Report
on Form 10-K, regaining listing compliance with Nasdaq and the
results of the ongoing accounting review. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results
to be materially different from any future results expressed or
implied by such forward-looking statements. Such factors
include a material delay in the Company's financial reporting,
including the possibility that the Company will not be able to file
its Annual Report on Form 10-K by February
27, 2017 or regain Nasdaq listing compliance, the
possibility that one or more material weaknesses in the Company's
internal control over financial reporting may be identified in
connection with the ongoing accounting review, the possibility that
the ongoing accounting review may identify errors, which may be
material, in the Company's revenue recognition accounting, whether
investors should no longer rely upon previously issued financial
statements, and the risk that the Company may need to restate its
financial statements. As a result of the foregoing and other
factors, no assurance can be given as to the future results, levels
of activity and achievements of the Company, and neither the
Company nor any person assumes responsibility for the accuracy and
completeness of these statements.
The Hain Celestial Group, Inc.
The Hain Celestial
Group (NASDAQ: HAIN), headquartered in Lake Success, NY, is a leading organic and
natural products company with operations in North America, Europe and India. Hain Celestial
participates in many natural categories with well-known brands that
include Celestial Seasonings®, Earth's Best®,
Ella's Kitchen®, Terra®, Garden of
Eatin'®, Sensible Portions®, Health
Valley®, Arrowhead Mills®,
MaraNatha®, SunSpire®, DeBoles®,
Casbah®, Rudi's Organic Bakery®, Hain Pure
Foods®, Spectrum®, Spectrum
Essentials®, Imagine®, Almond
Dream®, Rice Dream®, Soy Dream®,
WestSoy®, The Greek Gods®,
BluePrint®, FreeBird®, Plainville
Farms®, Empire®, Kosher Valley®,
Yves Veggie Cuisine®, Europe's Best®, Cully &
Sully®, New Covent Garden Soup Co.®,
Johnson's Juice Co.®, Farmhouse Fare®,
Hartley's®, Sun-Pat®, Gale's®,
Robertson's®, Frank
Cooper's®, Linda
McCartney®, Lima®, Danival®,
Joya®, Natumi®, GG UniqueFiber®,
Tilda®, JASON®, Avalon Organics®,
Alba Botanica®, Live
Clean® and Queen
Helene®. Hain Celestial has been providing
A Healthier Way of Life™ since 1993. For more information,
visit www.hain.com.
Logo -
http://photos.prnewswire.com/prnh/20130502/NY06743LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/hain-celestial-receives-nasdaq-extension-to-evidence-compliance-with-filing-requirement-300357295.html
SOURCE The Hain Celestial Group, Inc.