Mer Telemanagement Solutions Ltd. Receives NASDAQ Notice of Minimum Bid Price Non-Compliance
17 Septembre 2009 - 6:47PM
PR Newswire (US)
RA'ANANA, Israel, September 17 /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 bid price of the
Company's ordinary shares was below $1.00 per share for 30
consecutive business days and that the Company was therefore not in
compliance with NASDAQ Marketplace Rule 5550(a)(2). 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 March 15, 2010, to regain compliance with the minimum closing
bid price requirement. To regain compliance, the closing bid price
of the Company's ordinary shares must meet or exceed $1.00 per
share for at least ten consecutive business days. NASDAQ may, in
its discretion, require the Company's ordinary shares to maintain a
bid price of at least $1.00 per share for a period in excess of ten
consecutive business days, but generally no more than 20
consecutive business days, before determining that the Company has
demonstrated an ability to maintain long-term compliance. If the
Company does not regain compliance by March 15, 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. Alternatively, if the Company meets The
NASDAQ Capital Market initial listing standards, with the exception
of bid price, the Company should be granted an additional 180
calendar day compliance period. The Company will consider available
options to resolve the deficiency and regain compliance with the
NASDAQ minimum bid price requirement. 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: DATASOURCE: MTS-MER Telemanagement Solutions
Ltd CONTACT: Contacts: Company: Alon Mualem, CFO, Tel:
+972-9-7777-540, Email:
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