SOURCE: Seven Arts Pictures plc

Seven Arts Pictures plc

January 25, 2011 15:03 ET

Seven Arts Pictures Plc Receives NASDAQ Letter Due to Late Filing of Annual Report and Audited Results of Operations

HOLLYWOOD, CA--(Marketwire - January 25, 2011) - Seven Arts Pictures plc (NASDAQ: SAPX) ("Seven Arts") received a letter from NASDAQ dated January 19, 2011 notifying Seven Arts that Seven Arts was late in filing its annual report on Form 20-F with the SEC for the fiscal year ended June 30, 2010. Seven Arts had today filed its annual report on Form 20-F, and as a result now has 60 calendar days to submit a plan to regain compliance with NASDAQ listing rules. Seven Arts intends to file its annual report on Form 20-F within five business days.

About Seven Arts:
Seven Arts Pictures PLC was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

Cautionary Information Regarding Forward-Looking Statements:
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.

Contact Information