RA'ANANA, Israel, July 1, 2010 /PRNewswire-FirstCall/ -- MTS - Mer
Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a
global provider of business support systems (BSS) for comprehensive
telecommunication management, telecommunications expense management
(TEM) solutions and customer care & billing (CC&B)
solutions, today announced that it has received a notice from The
NASDAQ Stock Market stating that the minimum market value of
publicly held shares was below $1,000,000 for 30 consecutive business days and
that the Company was therefore not in compliance with NASDAQ
Listing Rule 5550(a)(5). The notification letter has no effect at
this time on the listing of the Company's ordinary shares on The
NASDAQ Capital Market. The Company's ordinary shares will continue
to trade on The NASDAQ Capital Market under the symbol MTSL.
The notification letter states that the Company will be afforded
180 calendar days, or until December 27,
2010, to regain compliance with the rule. To regain
compliance, the Company's market value of publicly held shares must
meet or exceed $1,000,000 for at
least ten consecutive business days.
If the Company does not regain compliance by December 27, 2010, NASDAQ will provide written
notification to the Company that the Company's ordinary shares are
subject to delisting. At that time, the Company may appeal NASDAQ's
delisting determination to a NASDAQ Listing Qualifications Panel,
and may submit a plan for regaining compliance with the rule.
The Company intends to consider available options to resolve the
deficiency and regain compliance with the NASDAQ rule.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider
of innovative solutions for comprehensive telecommunications
expense management (TEM) used by enterprises, and for business
support systems (BSS) used by information and telecommunication
service providers.
Since 1984, MTS Telecommunications' expense management solutions
have been used by thousands of enterprises and organizations to
ensure that their telecommunication services are acquired,
provisioned, and invoiced correctly. In addition, the MTS's
Application Suite has provided customers with a unified view of
telecommunication usage, proactive budget control, personal call
management, employee cost awareness and more.
AnchorPoint TEM solutions that MTS acquired on December 2008 enable enterprises to gain
visibility and control of strategic assets that drive key business
processes and crucial competitive advantage. The AnchorPoint's
software, consulting and managed services solutions - including
integrated Invoice, Asset, and Usage Management and Business
Analytics tools -- provide professionals at every level of the
organization with rapid access to concise, actionable data.
MTS's solutions for Information and Telecommunication Service
Providers are used worldwide by wireless and wireline service
providers for interconnect billing, partner revenue management and
for charging and invoicing their customers. MTS has pre-configured
solutions to support emerging carriers of focused solutions (e.g.
IPTV, VoIP, WiMAX, MVNO) to rapidly install a full-featured and
scaleable solution.
Headquartered in Israel, MTS
markets its solutions through wholly owned subsidiaries in
the United States, Hong Kong, The
Netherlands, and Brazil, as
well as through OEM partnerships with Siemens, Phillips, NEC and
other vendors. For more information please visit the MTS web site:
http://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.
Contacts:
Company:
Alon Mualem
CFO
Tel: +972-9-7777-540
Email: Alon.Mualem@mtsint.com
SOURCE MTS-MER Telemanagement Solutions Ltd