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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
Frederick's of Hollywood Receives Notice of Delisting from the NYSE MKT
Company expects common stock to trade on the OTCQB

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
Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties.  These statements are based on management's current expectations or beliefs.  Actual results may vary materially from those expressed or implied by the statements herein.  Among the factors that could cause actual results to differ materially are the following: competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; working capital needs; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; risks of doing business abroad; the ability to protect our intellectual property; and the other risks that are described from time to time in the Company's SEC reports.  The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Frederick's of Hollywood Group Inc.
Frederick's of Hollywood Group Inc., through its subsidiaries, sells women's apparel and related products under its proprietary Frederick's of Hollywood® brand through 118 specialty retail stores, a catalog and an online shop at http://www.fredericks.com/.  With its exclusive product offerings including Seduction by Frederick's of Hollywood and the Hollywood Exxtreme Cleavage® bra, Frederick's of Hollywood is the Original Sex Symbol®.

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.

 

CONTACT:                                         

Investor Contacts:

Frederick's of Hollywood Group Inc.                

Todd Fromer / Garth Russell

Thomas Rende, CFO                                    

KCSA Strategic Communications          

(212) 779-8300                                             

212-896-1215 / 212-896-1250


tfromer@kcsa.com / grussell@kcsa.com 

 

SOURCE Frederick's of Hollywood Group Inc.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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