GEALYA, Israel, April 18, 2011 /PRNewswire-FirstCall/ -- Metalink
Ltd. (NASDAQ: MTLK), today announced that it had received notice
from the staff of the NASDAQ Stock Market LLC, on April 12, 2011 indicating that the Company has
failed to regain compliance with the minimum $1.00 per share requirement for continued listing
as set forth in NASDAQ's Listing Rule 5550(a)(2) by April 11, 2011 and that, unless the Company
appeals, the Company's ordinary shares will be delisted from The
NASDAQ Capital Market at the opening of business on April 21, 2011. Metalink does not intend to
appeal the delisting determination.
When delisted from The NASDAQ Capital Market, the Company's
shares are expected to become eligible for quotation on the OTC
Bulletin Board (OTCBB) or in the "pink sheets".
The Company will continue to file its periodic reports with the
U.S. Securities and Exchange Commission, including Annual Reports
on Form 20-F and periodic reports on Form 6-K, as required by
applicable securities laws.
ABOUT METALINK
Metalink shares trade on Nasdaq under the symbol "MTLK". For
more information, please visit our website at
http://www.MTLK.com.
SAFE HARBOR STATEMENT
This press release contains "forward looking statements" within
the meaning of the United States
securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believe," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. Because such statements deal with
future events, they are subject to various risks and uncertainties
that could cause actual results to differ materially from those in
the forward looking statements. Factors that could cause or
contribute to such differences include, but are not limited to:
whether Metalink shares will be eligible for quotation on the OTCBB
or pink sheets; absence of significant operations following the
Lantiq transaction; uncertainty as to our future business model and
our ability to identify and evaluate suitable business
opportunities; and our U.S. shareholders may suffer adverse tax
consequences if we will be classified as a passive foreign
investment company. Additional factors that could cause actual
results to differ materially from these forward-looking statements
are set forth from time to time in Metalink's filings with the
Securities and Exchange Commission, including Metalink's Annual
Report in Form F-20. Readers are cautioned not to place undue
reliance on forward-looking statements. Except as required by
applicable law, the Company undertakes no obligation to republish
or revise forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrences
of unanticipated events. The Company cannot guarantee future
results, events, and levels of activity, performance, or
achievements.
Contact:
Neta Eshed
General Counsel
Metalink Ltd.
Tel: +972-77-4495900
Fax: +972-153-77-4495901
Neta@Mtlk.com
SOURCE Metalink Ltd