Genesys Conferencing Announces Notice of Nasdaq Listing Requirements
21 Marzo 2006 - 12:00AM
Business Wire
Genesys Conferencing (Euronext Eurolist:FR0004270270)
(NASDAQ:GNSY), a global multimedia conferencing leader, today
announced that the Company received notification from The Nasdaq
Stock Market that it is not in compliance with the continued
listing requirement of Nasdaq Marketplace Rule 4450(b)(4) because
the bid price of the Company's American Depositary Shares (ADSs)
has closed below the minimum $1.00 per share requirement for 30
consecutive business days. In accordance with Nasdaq Marketplace
Rule 4450(e)(2), the Company will have until September 11, 2006, to
regain compliance with the minimum bid price requirement. To meet
the minimum bid price requirement, the Company's ADSs must close at
$1.00 per share or more for a minimum of 10 consecutive business
days. If the Company has not met the minimum bid price requirement
but otherwise satisfies the initial listing criteria in Nasdaq
Marketplace Rule 4320, then the Company will have an additional
180-calendar-day compliance period to meet the minimum bid price
requirement. The Company is currently considering changing the
number of its ordinary shares represented by its ADSs in order to
re-establish compliance with the Nasdaq criteria. Currently, each
ADS represents one half of one ordinary share. If the Company's
ADSs continue to trade below the Nasdaq minimum level, the Company
expects to change the ratio so that each ADS will represent at
least one ordinary share. The Company continues to be in compliance
with the other requirements of Nasdaq Marketplace Rule 4450. The
Nasdaq notification has no effect on the continued listing of the
Company's ordinary shares on the Nouveau Marche of Euronext Paris
S.A. About Genesys Conferencing Genesys Conferencing is a leading
provider of integrated Web, audio and video conferencing services
to thousands of organizations worldwide, including more than 200 of
the Fortune Global 500. The company's services are designed to meet
the full range of communication needs within the large enterprise,
from collaborative team meetings to high-profile online events. The
company's flagship product, Genesys Meeting Center, provides a
single-platform multimedia conferencing solution that is easy to
use and available on demand. With offices in more than 20 countries
across North America, Europe and Asia Pacific, the company offers
an unmatched global presence and strong local support. Genesys
Conferencing is publicly traded on Euronext in France (ISIN
FR0004270270) and on the NASDAQ in the U.S. (GNSY). Additional
information is available at www.genesys.com.
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