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TheStreet Open House

NASDAQ Grants Extension To Continue Swisher Hygiene Listing

Stocks in this article: SWISWSH

CHARLOTTE, N.C., March 22, 2013 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitizing products and services, announced today that on March 21, 2013, the NASDAQ Hearings Panel (the "Panel") determined to continue Swisher Hygiene's listing on the NASDAQ Stock Market ("NASDAQ") and provide Swisher Hygiene additional time to file its Form 10-K for the year ended December 31, 2012 (the "2012 Form 10-K") and hold its combined 2011 and 2012 annual meeting of stockholders (the "Annual Meeting").

Previously, on March 20, 2013, Swisher Hygiene provided the Panel an update on the company's compliance efforts and advised the Panel that it expects to complete and file the 2012 Form 10-K by April 30, 2013 and hold the Annual Meeting on June 5, 2013.

Also, on March 20, 2013, Swisher Hygiene received a letter from NASDAQ indicating that it is not in compliance with the filing requirements for continued listing under NASDAQ Listing Rule 5250(c)(1) because the 2012 Form 10-K was not timely filed by March 18, 2013. The letter from NASDAQ advised Swisher Hygiene that the Panel will consider this additional deficiency in the Board's decision regarding Swisher Hygiene's continued listing on NASDAQ.

On March 21, 2013, Swisher Hygiene received a letter from the Panel indicating its determination to continue the listing of Swisher Hygiene's shares on NASDAQ, subject to the following conditions: (1) on or before April 30, 2013, Swisher Hygiene will file the 2012 Form 10-K and (2) on or before June 5, 2013, Swisher Hygiene will have solicited proxies and held the Annual Meeting. In order for Swisher Hygiene to comply with the terms of the Panel's exception, Swisher Hygiene must be able to demonstrate compliance with all requirements for continued listing.

Swisher Hygiene is working to meet the conditions for continued listing required by the Panel, however Swisher Hygiene can provide no assurance as to when it will complete and file the 2012 Form 10-K or when it will hold the Annual Meeting.

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