RA'ANANA, Israel and RIVER EDGE, New Jersey, Feb. 23, 2017 /PRNewswire/
-- MTS – Mer Telemanagement Solutions Ltd.
(Nasdaq Capital Market: MTSL), a global provider of solutions for
telecommunications expense management (TEM) and enterprise mobility
management (EMM) and video advertising solutions for online
and mobile platforms, today announced it received a notice from the
Listing Qualifications Department of Nasdaq advising the company
that it was not in compliance with Nasdaq's requirement that listed
securities maintain a minimum bid price of $1.00 per share as set forth in the Nasdaq
Listing Rules.
MTS has a 180 days' period, until August
21, 2017, to regain compliance with the $1.00 minimum bid price requirement. If at any
time during this 180 days' period, the closing bid price of the
company's ordinary shares is at least $1.00 for a minimum of ten consecutive business
days, the company will regain compliance and the matter will be
closed.
In the event MTS does not regain compliance, it may be eligible
for an additional 180 calendar days' extension to regain
compliance. To qualify, MTS will be required to meet the continued
listing requirement for market value of publicly held shares and
all other initial listing standards for the Nasdaq Capital Market,
with the exception of the bid price requirement, and will need to
provide written notice of its intention to cure the deficiency
during the second compliance period, by effecting a reverse stock
split, if necessary.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a provider of video
advertising solutions for online and mobile platforms through
Vexigo as well as a provider of innovative products and services
for telecom expense management (TEM), enterprise mobility
management (EMM) and mobile virtual network operators and enablers
(MVNO/MVNE).
Vexigo (www.vexigo.com) is a global provider of online video
advertising software and services delivering compelling results
through a propriety in-house technology and an easy-to-use and very
effective publishing platform specifically designed for content
publishers.
Headquartered in Israel, MTS
markets its solutions through wholly owned subsidiaries in
Israel, the United States and Hong Kong and through distribution channels.
For more information please visit the MTS web site:
www.mtsint.com.
Certain matters discussed in this news release are
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to, risks in product
development plans and schedules, rapid technological change,
changes and delays in product approval and introduction, customer
acceptance of new products, the impact of competitive products and
pricing, market acceptance, the lengthy sales cycle, proprietary
rights of the Company and its competitors, risk of operations in
Israel, government regulations,
dependence on third parties to manufacture products, general
economic conditions and other risk factors detailed in the
Company's filings with the United States Securities and Exchange
Commission.
Company Contact:
Alon
Mualem
CFO
Tel:
+972-9-7777-540
Email: Alon.Mualem@mtsint.com
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SOURCE MTS - Mer Telemanagement Solutions Ltd.