RADCOM Plans Reverse Share Split and Receives Nasdaq Delisting Letter
March 17 2008 - 9:00AM
PR Newswire (US)
TEL AVIV, Israel, March 17 /PRNewswire-FirstCall/ -- RADCOM Ltd.
("RADCOM" or the "Company") (NASDAQ and TASE: RDCM) announced today
its plan to request shareholder approval of a reverse share split
of the Company's outstanding ordinary shares. The reverse share
split will be undertaken with the goal of enabling the Company's
shares to continue trading on The Nasdaq Capital Market. The
Company received a notice from The NASDAQ Staff (the "Staff") on
March 11, 2008 notifying the Company that it had failed to comply
with the minimum bid price requirement of $1.00 per share, as
required for continued listing by NASDAQ Marketplace Rule
4320(e)(2)(E)(ii). As the Company reported in a press release dated
September 12, 2007, in September the Staff notified the Company
that the bid price of its ordinary shares had closed at less than
$1.00 per share for 30 consecutive business days, and that the
Company, therefore, had until March 10, 2008 to regain compliance
with the minimum $1.00 bid price per share requirement. RADCOM
intends to file a request for a hearing before the NASDAQ Listing
Qualifications Panel (the "Panel") to appeal the Staff
determination. As a result, the Company's shares will continue to
be traded on The NASDAQ Capital Market and will not be delisted
pending the hearing date and a final decision by the Panel. A
hearing date will be set by the Panel following its receipt of the
Company's hearing request. However, there can be no assurance that
the reverse share split will cause the Company to regain long-term
compliance with the minimum bid price requirement and that the
Panel will approve the Company's request for continued listing.
About RADCOM RADCOM develops, manufactures, markets and supports
innovative network test and service monitoring solutions for
communications service providers and equipment vendors. The Company
specializes in Next Generation Cellular as well as Voice, Data and
Video over IP networks. Its solutions are used in the development
and installation of network equipment and in the maintenance of
operational networks. The Company's products facilitate fault
management, network service performance monitoring and analysis,
troubleshooting and pre-mediation. RADCOM's shares are listed on
both the NASDAQ Capital Market and the Tel Aviv Stock Exchange
under the symbol RDCM. For more information, please visit
http://www.radcom.com/. Risks Regarding Forward-Looking Statements
Certain statements made herein that use the words "estimate,"
"project," "intend," "expect," "believe" and similar expressions
are intended to identify forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks
and uncertainties that could cause the actual results, performance
or achievements of the Company to be materially different from
those that may be expressed or implied by such statements,
including, among others, changes in general economic and business
conditions and specifically, decline in the demand for the
Company's products, inability to timely develop and introduce new
technologies, products and applications, and loss of market share
and pressure on prices resulting from competition. For additional
information regarding these and other risks and uncertainties
associated with the Company's business, reference is made to the
Company's reports filed from time to time with the United States
Securities and Exchange Commission. The Company does not undertake
to revise or update any forward-looking statements for any reason.
Contact: Jonathan Burgin CFO +972-3-645-5004 DATASOURCE: Radcom Ltd
CONTACT: Contact: Jonathan Burgin, CFO, +972-3-645-5004,
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