VUANCE Receives Staff Determination Pursuant to Marketplace Rule 4310(c)(3) From Nasdaq
02 Abril 2009 - 2:01PM
PR Newswire (US)
VUANCE to Request Hearing with Listings Qualifications Panel
FRANKLIN, Wis., April 2 /PRNewswire-FirstCall/ -- VUANCE, Ltd.
(NASDAQ: VUNC), a leading provider of innovative Radio Frequency
Verification Solutions, including active RFID, electronic access
control, credentialing, accountability and incident response
management, announced today that it has been informed by The Nasdaq
Stock Market Inc. ("Nasdaq") on March 30, 2009 that it has not
complied with the minimum $2.5 million in stockholders' equity, $35
million market capitalization, or $500,000 net income requirements
for continued listing on The Nasdaq Capital Market set forth in
Marketplace Rule 4310(c)(3), and therefore, trading of the
Company's ordinary shares will be suspended at the opening of
business on April 8, 2009, and a form 25-NSE will be filed with the
SEC removing the Company's securities from listing and registration
on The Nasdaq Capital Market, unless the Company requests an appeal
of the delisting decision by Nasdaq. The Company has the right to
appeal the Nasdaq determination to a Nasdaq Listings Qualifications
Panel (the "Panel") and the Company intends to appeal this
determination. The appeal will automatically stay the delisting of
the Company's common stock until the Panel reaches a decision.
There can be no assurance that the Panel will grant the Company's
request for continued listing. In the event that the Panel denies
the Company's request for continued listing on The Nasdaq Capital
Market, the Company's common stock could be eligible for quotation
and trading on the OTC Bulletin Board in accordance with applicable
rules and regulations. About VUANCE Ltd. VUANCE Ltd. develops and
markets state-of-the-art security solutions for viewing, tracking,
locating, credentialing, and managing essential assets and
personnel. VUANCE solutions encompass electronic access control,
urban security, and critical situation management systems as well
as long-range active RFID for public safety, commercial, and
government sectors. The Company's comprehensive range of products
enable our business partners to offer their customers end-to-end
solutions that can overcome the most difficult security challenges.
Its Incident Response Management System (IRMS) is the industry's
most comprehensive mobile credentialing and access control system,
designed to meet the needs of Homeland Security and other public
initiatives. VUANCE is serious about security. VUANCE Ltd. is
headquartered in Rockville, MD. Its common stock is listed on the
NASDAQ Capital Market under the symbol "VUNC". For more
information, visit http://www.vuance.com/. Safe Harbor This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Statements preceded or followed by or
that otherwise include the words "believes," "expects,"
"anticipates," "intends," "projects," "estimates," "plans," and
similar expressions or future or conditional verbs such as "will,"
"should," "would," "may" and "could" are generally forward-looking
in nature and not historical facts. Forward-looking statements in
this release also include statements about business and economic
trends. Investors should also consider the areas of risk described
under the heading "Forward Looking Statements" and those factors
captioned as "Risk Factors" in the Company's periodic reports under
the Securities Exchange Act of 1934, as amended, or in connection
with any forward-looking statements that may be made by the
Company. The Company also disclaims any duty to comment upon or
correct information that may be contained in reports published by
the investment community. Investor/Media Contact Hayden
Communications Brett Maas, 646-536-7331 DATASOURCE: VUANCE Ltd.
CONTACT: Brett Maas of Hayden Communications, +1-646-536-7331, ,
for VUANCE Ltd. Web Site: http://www.vuance.com/
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