YAKUM, Israel, October 18, 2010 /PRNewswire-FirstCall/ --
Metalink Ltd. (NASDAQ: MTLK) today announced that it has received
notification from The NASDAQ Stock Market that it is no longer in
compliance with the continued listing requirements for The NASDAQ
Capital Market (Rule 5550(a)(2)) as a result of the closing bid
price per share of the Company's ordinary shares falling below the
minimum trading price of $1.00 for
thirty consecutive business days.
NASDAQ provided Metalink with a compliance period of 180
calendar days, or until April 11,
2011, to regain compliance with the bid price requirement
before its shares will be delisted from NASDAQ. Compliance is
achieved if, at anytime before April 11,
2011, the bid price of the Company's ordinary shares closes
at $1.00 per share or more for at
least 10 consecutive business days. At the end of such compliance
period, the Company may be afforded an additional compliance period
of 180 days if it meets the other initial listing requirements of
the NASDAQ Capital Market at that time.
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:
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: +972-77-4495901
Neta@MTLK.com
SOURCE Metalink Ltd