PSi Technologies Receives Nasdaq Delisting Notice
05 Août 2008 - 10:00PM
PR Newswire (US)
MANILA, Philippines, Aug. 5 /PRNewswire-FirstCall/ -- PSi
Technologies Holdings, Inc. (the "Company"), (NASDAQ:PSIT), an
independent provider of assembly and test services for the power
semiconductor market, announced today that on July 31, 2008, it
received a Nasdaq Staff Determination letter indicating that the
Company has failed to comply with the minimum bid price requirement
for continued listing set forth in Marketplace Rule
4320(e)(2)(E)(ii), and that its securities are, therefore, subject
to delisting and deregistration from The Nasdaq Capital Market. The
Company will request a hearing before a Nasdaq Listing
Qualifications Panel (the "Panel") to review the Staff
Determination, which will stay the delisting action pending the
issuance of a final decision by the Panel. The Company is examining
several potential courses of action aimed at supporting the Company
in regaining compliance with the requirements for continued
listing. However, there can be no assurance that the Panel will
grant the Company's request for continued listing. About PSi
Technologies PSi Technologies is a focused independent
semiconductor assembly and test service provider to the power
semiconductor market. The Company provides comprehensive package
design, assembly and test services for power semiconductors used in
telecommunications and networking systems, computers and computer
peripherals, consumer electronics, electronic office equipment,
automotive systems and industrial products. Their customers include
most of the major power semiconductor manufacturers in the world
such as Infineon Technologies, ON Semiconductor, Philips
Semiconductor, and ST Microelectronics. For more information, visit
the Company's website at http://www.psitechnologies.com/ or call:
At PSi Technologies Holdings, Inc.: At Financial Relations Board:
Larry Cajucom Lasse Glassen (632) 838 4489 (213) 486 6546 This
press release contains "forward-looking statements," as the phrase
is defined in Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. While these
forward-looking statements represent the Company's current judgment
of what may happen in the future, actual results may differ
materially from the results expressed or implied by these
statements due to numerous important factors, including, but not
limited to, those described under the heading "Risk Factors" in the
Company's most recent Annual Report on Form 20-F filed with the
Securities and Exchange Commission ("SEC"), which may be revised or
supplemented in subsequent reports furnished to the SEC. These
factors include, but are not limited to, the pace of development
and market acceptance of the Company's products and the power
semiconductor market generally, commercialization and technological
delays or difficulties, the impact of competitive products and
technologies, competitive pricing pressures, manufacturing risks,
the possibility of our products infringing patents and other
intellectual property of third parties, product defects, costs of
product development, manufacturing and government regulation, risks
inherent in emerging markets, including but not limited to,
currency volatility and depreciation, restricted access to
financing and political and social unrest and the possibility that
the initiatives described herein may not produce the intended
results. The Company undertakes no responsibility to update these
forward-looking statements to reflect events or circumstances after
the date hereof. DATASOURCE: PSi Technologies Holdings, Inc.
CONTACT: Larry Cajucom of PSi Technologies Holdings, Inc.,
+1-632-838-4489, ; or Lasse Glassen, Financial Relations Board,
+1-213-486-6546, , for PSi Technologies Holdings, Inc. Web site:
http://www.psitechnologies.com/
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