PETACH TIKVA, Israel, December 13 /PRNewswire-FirstCall/ -- Healthcare Technologies, Ltd. (NASDAQ: HCTL) announced that on December 10, 2007, it received a notice from the Nasdaq Stock Market indicating that the Company is not in compliance with Nasdaq Marketplace rule 4320(e)(2)(E)(i) (the "Bid Price Rule") because the closing bid price per share for its ordinary shares has been below $1.00 per share for 30 consecutive trading days. In accordance with Nasdaq Marketplace Rules, the Company will be provided 180 calendar days, or until June 9, 2008, to regain compliance with the Bid Price Rule. This notification has no affect on the listing of its ordinary shares at this time.
To regain compliance with the Bid Price Rule, the closing bid price of the Company's ordinary shares must remain at $1.00 per share or more for a minimum of ten consecutive trading days. If the Company does not regain compliance with the Bid Price Rule by June 9, 2008, Nasdaq will determine whether it meets The Nasdaq Capital Market initial listing criteria set forth in Marketplace Rule 4320(e), except for the bid price requirement. If it meets the initial listing criteria, Nasdaq will notify the Company that it has been granted an additional 180 calendar day compliance period. If it is not eligible for an additional compliance period, Nasdaq will provide the Company written notification that its ordinary shares will be delisted. At that time, the Company may appeal Nasdaq's determination to delist its ordinary shares to a Listings Qualifications Panel. If the Company's ordinary shares are delisted, the Company anticipates that its ordinary shares would be eligible for trading on the Over the Counter Bulletin Board.
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|SOURCE Healthcare Technologies Ltd|
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