Tandy Brands Receives Nasdaq Notice Regarding Listing Requirements
DALLAS, Feb. 27, 2013 (GLOBE NEWSWIRE) -- On February 22, 2013, Tandy Brands
Accessories, Inc. (Nasdaq:TBAC) (the "Company"), a leading designer and
marketer of branded men's, women's and children's accessories, received a
notification letter from the Nasdaq Global Market ("Nasdaq") stating that
because the Company has not yet filed its Quarterly Report on Form 10-Q for
the period ended December 31, 2012 (the "10-Q") with the Securities and
Exchange Commission (the "Commission"), it was not in compliance with the
continued listing requirements under Nasdaq Listing Rule 5250(c)(1).This
press release is being issued in accordance with Nasdaq Listing Rule 5810(b).
Under the Nasdaq listing rules the Company has 60 days to submit a plan to
Nasdaq to regain compliance with the applicable listing rule. Upon acceptance
of the Company's compliance plan, Nasdaq may grant the Company an extension of
up to 180 calendar days from the 10-Q's initial due date, or until August 13,
2013, to regain compliance with Nasdaq's filing requirements for continued
The Nasdaq notice has no immediate effect on the listing or trading of the
Company's common stock on The Nasdaq Global Market.The Company intends to
file its 10-Q with the Commission as soon as practicable and, if necessary,
the Company will submit a plan to regain compliance with Nasdaq's filing
requirements within the 60 day period.
About Tandy Brands
Tandy Brands is a leading designer and marketer of branded men's, women's and
children's accessories, including belts, gifts, small leather goods and bags.
Merchandise is marketed under various national as well as private brand names
through all major retail distribution channels.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act
of 1934.Forward-looking statements are subject to known and unknown risks and
uncertainties, many of which may be beyond our control.We caution you that
the forward-looking information presented in this current report is not a
guarantee of future events, and that actual events and results may differ
materially from those made in or suggested by the forward-looking information
contained in this press release.In addition, forward-looking statements
generally can be identified by the use of forward-looking terminology such as
"may," "plan," "will," "expect," "intend," "estimate," "anticipate," "believe"
or "continue" or the negative thereof or variations thereon or similar
terminology.A number of important factors could cause actual events and
results to differ materially from those contained in or implied by the
forward-looking statements, including those factors discussed in our Form
10-K, filed on September 4, 2012 with the Commission and in the Quarterly
Reports on Form 10-Q filed subsequent thereto.Any forward-looking information
presented herein is made only as of the date of this current report, and we do
not undertake any obligation to update or revise any forward-looking
information to reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
CONTACT: Tandy Brands Accessories, Inc.
President and Chief Executive Officer
Chief Financial Officer
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