Healthcare Technologies, Ltd. Receives Notice From Nasdaq
December 13 2007 - 2:00PM
PR Newswire (US)
PETACH TIKVA, Israel, December 13 /PRNewswire-FirstCall/ --
Healthcare Technologies, Ltd. (NASDAQ:HCTL) announced that on
December 10, 2007, it received a notice from the Nasdaq Stock
Market indicating that the Company is not in compliance with Nasdaq
Marketplace rule 4320(e)(2)(E)(i) (the "Bid Price Rule") because
the closing bid price per share for its ordinary shares has been
below $1.00 per share for 30 consecutive trading days. In
accordance with Nasdaq Marketplace Rules, the Company will be
provided 180 calendar days, or until June 9, 2008, to regain
compliance with the Bid Price Rule. This notification has no affect
on the listing of its ordinary shares at this time. To regain
compliance with the Bid Price Rule, the closing bid price of the
Company's ordinary shares must remain at $1.00 per share or more
for a minimum of ten consecutive trading days. If the Company does
not regain compliance with the Bid Price Rule by June 9, 2008,
Nasdaq will determine whether it meets The Nasdaq Capital Market
initial listing criteria set forth in Marketplace Rule 4320(e),
except for the bid price requirement. If it meets the initial
listing criteria, Nasdaq will notify the Company that it has been
granted an additional 180 calendar day compliance period. If it is
not eligible for an additional compliance period, Nasdaq will
provide the Company written notification that its ordinary shares
will be delisted. At that time, the Company may appeal Nasdaq's
determination to delist its ordinary shares to a Listings
Qualifications Panel. If the Company's ordinary shares are
delisted, the Company anticipates that its ordinary shares would be
eligible for trading on the Over the Counter Bulletin Board. About
Healthcare Technologies Healthcare Technologies through it
subsidiaries and affiliate, Gamidor Diagnostics (1984) Ltd., Danyel
Biotech Ltd. and Savyon Diagnostics Ltd., specializes in
development, manufacturing and marketing of clinical diagnostic
test kits and provides services and tools to diagnostic and biotech
research professionals in laboratory and point of care sites
worldwide. Safe Harbor: This press release contains certain forward
looking statements within the meaning of section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. With the exception of historical information contained
herein, the matters discussed in this press release involve risk
and uncertainties. Actual results could differ materially from
those expressed in any forward looking statement made by or on
behalf of Healthcare Technologies Ltd. Many factors could cause the
actual results, performance or achievements of Healthcare or the
above described transaction to be materially different from any
future results, performance or achievements that may be expressed
or implied by such forward-looking. Contact: Eran Rotem, CFO,
+972-3-9277232/3 DATASOURCE: Healthcare Technologies Ltd CONTACT:
Contact: Eran Rotem, CFO, +972-3-9277232/3
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