HANS News Hansen Receives Anticipated Additional Letter from Nasdaq
CORONA, Calif.--(BUSINESS WIRE)--Hansen Natural Corporation (NASDAQ:HANS) announced today that as
anticipated it received a Nasdaq Additional Staff Determination letter
on January 10, 2007, stating that the Company is not in compliance with
the filing requirements for continued listing under Nasdaq Marketplace
Rule 4350(i)(1)(A) due to the Company's inadvertent issuance of an
out-of-plan stock option to purchase 12,000 shares of the Company's
stock (pre stock splits) to an outside director of the Company in
November 2004, as announced on Form 8-K on January 10, 2007. The time
within which the plan permitted the award of options had expired
approximately four months earlier. The Nasdaq letter indicates that this
matter serves as an additional basis for delisting the Company's
securities from the Nasdaq Capital Market.
The matter has been referred to the same Nasdaq Listing Qualifications
Panel that is scheduled to conduct a hearing with respect to the earlier
Nasdaq Staff Determination Letter relating to the Company's non-filing
of its Form 10-Q for the period ending September 30, 2006. The Company
is exploring with Nasdaq staff appropriate steps to resolve the Rule
4350 matter as expeditiously as possible and is working towards such a
resolution in conjunction with the Panel hearing.
Hansen Natural Corporation
Hansen Natural Corporation markets and distributes Hansen’s®
Natural Sodas, Signature Sodas, fruit juice Smoothies, Energy drinks,
Energade® energy sports drinks, E20
Energy Water®, Sparkling Lemonades and
Orangeades, multi-vitamin juice drinks in aseptic packaging, Junior Juice®
juice, iced teas, lemonades and juice cocktails, apple juice and juice
blends, Blue Sky® brand beverages, Monster
Energy® brand energy drinks, Lost®
Energy™ brand energy drinks, Joker Mad Energy™,
Unbound® Energy and Ace™
Energy brand energy drinks, Rumba™ brand
energy juice, and Fizzit™ brand powdered
drink mixes. Hansen’s can be found on the Web
at www.hansens.com.
The press release contains forward-looking statements concerning
Hansen’s plans to present its views before
the Nasdaq Listing Qualifications Panel. There can be no assurance
concerning the outcomes of the hearing. Forward-looking statements are
made as of the date of this press release and, except as required by
law, Hansen does not undertake an obligation to update its
forward-looking statements to reflect future events or circumstances.
