PSi Technologies Receives Nasdaq Deficiency Letter
04 Febrero 2008 - 3:00PM
PR Newswire (US)
MANILA, Philippines, Feb. 4 /PRNewswire-FirstCall/ -- PSi
Technologies Holdings, Inc., (NASDAQ:PSIT), a leading independent
provider of assembly and test services for the power semiconductor
market, today announced that it received a Nasdaq Staff Deficiency
letter on January 31, 2008, indicating that the Company fails to
comply with the minimum bid price requirement for continued listing
set forth in Marketplace Rule 4320(e)(2)(E)(i). The Company will be
provided 180 calendar days, or until July 29, 2008, to regain
compliance with the minimum bid price requirement of $1.00 per
American Depositary Share of the Company for a minimum of 10
consecutive business days. If the minimum bid price requirement has
not been met by July 29, 2008, Nasdaq Staff will provide the
Company with an additional 180 calendar day compliance period only
if the Company meets certain other listing criteria. About PSi
Technologies PSi Technologies is a focused independent
semiconductor assembly and test service provider to the power
semiconductor market. The Company provides comprehensive package
design, assembly and test services for power semiconductors used in
telecommunications and networking systems, computers and computer
peripherals, consumer electronics, electronic office equipment,
automotive systems and industrial products. Their customers include
most of the major power semiconductor manufacturers in the world
such as Infineon Technologies, ON Semiconductor, Philips
Semiconductor, and ST Microelectronics. For more information, visit
the Company's web site at http://www.psitechnologies.com/ or call:
Safe Harbor Statement This press release contains forward-looking
statements that involve risks and uncertainties. Actual results and
outcomes may differ materially. Factors that might cause a
difference include, but are not limited to, those relating to the
pace of development and market acceptance of PSi's products and the
power semiconductor market generally, commercialization and
technological delays or difficulties, the impact of competitive
products and technologies, competitive pricing pressures,
manufacturing risks, the possibility of our products infringing
patents and other intellectual property of third parties, product
defects, costs of product development, manufacturing and government
regulation, risks inherent in emerging markets, including but not
limited to, currency volatility and depreciation, restricted access
to financing and political and social unrest. PSi undertakes no
responsibility to update these forward-looking statements to
reflect events or circumstances after the date hereof. More
detailed information about potential factors that could affect
PSi's financial results is included in the documents PSi files from
time to time with the Securities and Exchange Commission.
DATASOURCE: PSi Technologies Holdings, Inc. CONTACT: Larry V.
Cajucom, Jr., Chief Financial Officer of PSi Technologies Holdings,
Inc., +1-632-838-4489, fax, +1-632-838-4637, ; or Lasse Glassen of
Financial Relations Board, +1-213-486-6546, , for PSi Technologies
Holdings, Inc. Web site: http://www.psitechnologies.com/
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