NMS Communications Receives Notice Related to NASDAQ Minimum Bid Price Rule
21 Agosto 2008 - 3:30PM
Business Wire
NMS Communications Corporation (NASDAQ: NMSS), a leading provider
of communications technologies and solutions for converged and
mobile networks, announced that it received notice on August 20,
2008 from The NASDAQ Stock Market LLC that the minimum bid price of
its common stock had fallen below $1.00 for 30 consecutive business
days and that NMS Communications was therefore not in compliance
with NASDAQ Marketplace Rule 4405 (a)(5). In accordance with the
NASDAQ Marketplace Rules, NMS Communications has until February 17,
2009 (180 calendar days from August 20, 2008) to regain compliance.
NMS Communications can regain compliance with the minimum bid price
rule if the bid price of its common stock closes at $1.00 or higher
for a minimum of ten consecutive business days during the initial
180-day period, although NASDAQ may, in its discretion, require NMS
Communications to maintain a bid price of at least $1.00 per share
for a period in excess of ten consecutive business days (but
generally no more than 20 consecutive business days) before
determining that NMS Communications has demonstrated the ability to
maintain long-term compliance. If compliance is not achieved by
February 17, 2009, NASDAQ will determine whether NMS Communications
meets the NASDAQ Capital Market initial listing criteria except for
the bid price requirement. If NMS Communications meets the initial
listing criteria on such market, NASDAQ staff will notify NMS
Communications that it has been granted an additional 180 calendar
day compliance period. If NMS Communications is not eligible for an
additional compliance period, NASDAQ staff will provide written
notification that NMS Communications�s securities will be delisted,
which may be appealed at that time. The NASDAQ Letter received on
August 20, 2008, has no effect on the listing of NMS
Communications�s common stock at this time, and it will continue to
trade on the NASDAQ Global Market under the symbol NMSS. NMS
Communications will seek to regain compliance within this cure
period and is considering alternatives to address compliance with
the continued listing standards of The NASDAQ Stock Market. About
NMS Communications NMS Communications Corporation (NASDAQ:NMSS) is
a leading provider of applications, platforms and technologies that
make possible the rapid creation and deployment of a broad range of
value-added services, from voice mail to IVR to ringback and mobile
TV. Visit www.nmss.com for more information. Statements in this
document expressing the beliefs and expectations of management
regarding future performance are �forward-looking statements�
within the meaning of the Private Securities Litigation Reform Act
of 1995, including forward-looking statements regarding possible
delisting from, and the Company�s efforts to seek to regain
compliance with the continued listing standards of, the NASDAQ
Global Market. These statements are based on management�s
expectations as of the date of this document and are subject to
uncertainty and changes in circumstances. Actual results may differ
materially from these expectations due to risks and uncertainties
including, but not limited to, uncertainty in communications
spending, the implementation of the Company�s strategic
repositioning and market acceptance of the Company�s new solutions
strategy, quarterly fluctuations in financial results, the
Company�s ability to exploit fully the value of its technology and
its strategic partnerships and alliances, the availability of
products from the Company�s contract manufacturer and product
component vendors and other risks. These and other risks are
detailed from time to time in the Company�s filings with the
Securities and Exchange Commission, including the Company�s annual
report on Form 10-K for the year ended December 31, 2007. In
addition, while management may elect to update forward-looking
statements at some point in the future, management specifically
disclaims any obligation to do so, even if its estimates change.
Any reference to our website in this press release is not intended
to incorporate the contents thereof into this press release or any
other public announcement. NMS Communications is a trademark of NMS
Communications Corporation. All other product or corporate
references may be trademarks or registered trademarks of their
respective companies.
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