Hansen Threatened With Delisting

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Hansen Natural Corp. has received another letter from Nasdaq saying the company was once again not in compliance with listing rules due to the delayed filing of the company’s 2006 annual report, the Corona beverage maker said Thursday.


The “staff determination” letter, which the company said it received March 5, said the filing delinquency “serves as an additional basis” for delisting Hansen from the Nasdaq Capital Market.


Hansen said it will appear before the exchange’s Listing Qualifications Panel on March 12 to oppose its delisting.


This marks the second time in less than six months Nasdaq has threatened the company with possible delisting for its failure to file its financial reports. Hansen hasn’t filed an official report with the Securities and Exchange Commission since June of last year.


Hansen said it will file its earnings for 2006 after a special committee reviewing the company’s stock option practices finishes its investigation. Hansen has already been found to have violated SEC options granting rules when it said it inadvertently issued an out-of-plan stock option for 12,000 shares to an outside director in November 2004. Hansen disclosed the infraction to the SEC earlier this year.


Shares in Hansen were up $1.04, or 3 percent, to $34.60 in afternoon trading Thursday on the Nasdaq.

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