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Frederick's of Hollywood Receives Notice of Delisting from the NYSE MKT
Company expects common stock to trade on the OTCQB
By: PR Newswire
Feb. 12, 2013 05:50 PM
HOLLYWOOD, Calif., Feb. 12, 2013 /PRNewswire/ -- Frederick's of Hollywood Group Inc. (NYSE MKT: FOH) ("Company") today announced that on February 6, 2013, it received a notice from the NYSE MKT (the "Exchange") of its intent to delist the Company's common stock based on the Company's continued non-compliance with the stockholders' equity requirements for continued listing as set forth in Sections 1003(a)(i-iii) of the Exchange Company Guide.
The Company has decided not to request a hearing to appeal the delisting determination, and its common stock is expected to be suspended from the Exchange effective at the open of the market on February 22, 2013. The Company intends to remain current in its SEC reporting obligations, and expects that its common stock will be quoted and traded on the OTCQB Marketplace upon delisting from the Exchange, or as soon as practicable thereafter, under a new four-character symbol that the Company will announce prior to the opening of trading. The OTCQB is a market tier operated by the OTC Market Group Inc. for qualifying companies that are not listed on a national securities exchange.
"Although we are disappointed with the Exchange's decision to move forward with delisting proceedings, we will continue to be a fully reporting company with the SEC and do not expect our move to the OTCQB to impact our business. We remain committed to unlocking the value of the Frederick's of Hollywood brand for our shareholders," stated Thomas Lynch, the Company's Chairman and Chief Executive Officer.
Forward Looking Statement
About Frederick's of Hollywood Group Inc.
Our press releases and financial reports can be accessed on our corporate website at http://www.fohgroup.com.
This release is available on the KCSA Strategic Communications Web site at http://www.kcsa.com.
SOURCE Frederick's of Hollywood Group Inc.
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