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© grzegorz kula dreamstime.com Components | March 28, 2013

Maxwell: NASDAQ advises on non-compliance

the Listing Qualifications Department of the NASDAQ Stock Market LLC has advised Maxwell on the non-compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing.


"Maxwell Technologies, Inc. has received on March 20, 2013 the anticipated notification letter from the Listing Qualifications Department of the NASDAQ Stock Market LLC advising the company that, due to its inability to file with the Securities and Exchange Commission its annual report on Form 10-K for its fiscal year ended December 31, 2012 on a timely basis, the company is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing."

This notification was issued in accordance with standard NASDAQ procedures and has no immediate effect on the listing or trading of the company's common stock on the NASDAQ Global Market.

The NASDAQ letter indicated that the company has until May 20, 2013 to submit a plan explaining how it expects to regain compliance. If NASDAQ approves Maxwell's plan, it can grant the company an extension of up to 180 calendar days from the due date of the Form 10-K (or until September 16, 2013) to regain compliance.

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