|
Contact:
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Ira
Lamel/Mary Anthes
|
Jeremy
Fielding/David Lilly
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The
Hain Celestial Group, Inc.
|
Kekst
and Company
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|
|
212-521-4800 |
THE
HAIN CELESTIAL GROUP
RECEIVES
NOTICE FROM NASDAQ
DUE
TO DELAY IN FILING OF FORM 10-Q
Melville,
NY, November 16, 2007—The
Hain
Celestial Group, Inc. (NASDAQ: HAIN), a leading natural and organic food
and
personal care products company, announced today that, as anticipated, the
Company received on November 14, 2007 a NASDAQ Staff Determination letter
indicating it is not in compliance with the filing requirements for continued
listing as set forth in Marketplace Rule 4310(c)(14) due to the Company’s
failure to timely file its Form 10-Q for the period ended September 30,
2007.
In
response to the previously disclosed notice of delisting from The NASDAQ
Stock
Market Inc. in connection with the Company’s failure to file its Form 10-K for
the fiscal year ended June 30, 2007, on October 31, 2007 Hain Celestial met
with
the NASDAQ Listing Qualifications Panel pursuant to NASDAQ’s procedures
following Hain Celestial’s request for a hearing and continued listing. Pending
a decision by the Panel, Hain Celestial shares will remain listed on The
NASDAQ
Stock Market, Inc.
As
previously announced, Hain Celestial is conducting an independent review
of the
Company’s stock option practices. This review is being conducted at the
direction of a group of independent directors with the assistance of independent
legal counsel and experts retained by counsel and is substantially complete.
However, the timing of that completion has resulted in a delay in finalizing
the
Company’s Annual Report on Form 10-K for the year ended June 30, 2007 and its
Quarterly Report on Form 10-Q for the quarter ended September 30, 2007. The
Company believes that any adjustments that have been identified in the review
will not affect the Company’s previously released results of operations for the
year ended June 30, 2007 and the quarter ended September 30, 2007.
The
Hain Celestial Group
The
Hain
Celestial Group (NASDAQ: HAIN), headquartered in Melville, NY, is a leading
natural and organic food and personal care products company in North America
and
Europe. Hain Celestial participates in almost all natural food categories
with
well-known brands that include Celestial Seasonings®, Terra Chips®, Garden of
Eatin’®, Health Valley®, WestSoy®, Earth’s Best®, Arrowhead Mills®, DeBoles®,
Hain Pure Foods®, FreeBird™, Plainville Farms™, Hollywood®, Spectrum Naturals®,
Spectrum Essentials®, Walnut Acres Organic™, Imagine Foods™, Rice Dream®, Soy
Dream®, Rosetto®, Ethnic Gourmet®, Yves Veggie Cuisine®, Linda McCartney®,
Realeat®, Lima®, Grains Noirs®, Natumi®, JASON®, Zia® Natural Skincare, Avalon
Organics®, Alba Botanica® and Queen Helene®. For more information, visit
www.hain-celestial.com.
Safe
Harbor Statement
This
press release contains forward-looking statements within and constitutes
a "Safe
Harbor" statement under the Private Securities Litigation Act of 1995. Except
for the historical information contained herein, the matters discussed in
this
press release are forward-looking statements that involve known and unknown
risks and uncertainties, which could cause our actual results to differ
materially from those described in the forward-looking statements. These
risks
include but are not limited to general economic and business conditions;
the
ability to implement business and acquisition strategies and integrate
acquisitions; competition; retention of key personnel; the results of the
stock
options review described above; compliance with government regulations,
including the rules on proxy solicitations when necessary or required, and
other
risks detailed from time-to-time in the Company's reports filed with the
Securities and Exchange Commission, including the annual report on Form 10-K
for
the fiscal year ended June 30, 2006.