Navigation Links
Shamir Optical Industry Ltd. Announces Receipt of Notice from Nasdaq of Noncompliance with Nasdaq Audit Committee Composition Requirements
Date:4/7/2009

KIBBUTZ SHAMIR, Israel, April 7 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. (Nasdaq: SHMR) (the "Company") a leading provider of innovative products and technology to the ophthalmic lens market, today announced that the Company received a letter from the Nasdaq Stock Market indicating that the Company no longer complies with the audit committee composition requirements as set forth in Marketplace Rule 4350, which requires a listed company to have an audit committee of at least three independent members. As a result of the resignation of Mr. Joseph Tzur from the Company's board of directors on March 20, 2009, the Company's audit committee as of today has only two independent members.

In accordance with Marketplace Rule 4350(d)(4), Nasdaq has provided the Company a cure period to regain compliance until the earlier of the Company's next annual shareholders' meeting or March 20, 2010; or if the next annual shareholders' meeting is held before September 16, 2009, then the Company must evidence compliance no later than September 16, 2009.

During the cure period, the Company's ordinary shares will continue to trade on Nasdaq, subject to the Company's continued compliance with other Nasdaq listing requirements. The Company has begun the process of identifying a third audit committee member and expects to regain compliance with Nasdaq's audit committee composition requirements within the cure period.

ABOUT SHAMIR:

Shamir is a leading provider of innovative products and technology to the spectacle lens market. Utilizing its proprietary technology, the company develops, designs, manufactures, and markets progressive lenses to sell to the ophthalmic market. In addition, Shamir utilizes its technology to provide design services to optical lens manufacturers under service and royalty agreements. Progressive lenses are used to treat presbyopia, a vision condition where the eye loses its ability to focus on close objects. Progressive lenses combine several optical strengths into a single lens to provide a gradual and seamless transition from near to intermediate, to distant vision. Shamir differentiates its products from its competitors' primarily through lens design. Shamir's leading lenses are marketed under a variety of trade names, including Shamir Genesis(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Nano(TM), Shamir Autograph(TM) and Shamir Smart(TM). Shamir believes that it has one of the world's preeminent research and development teams for progressive lenses, molds, and complementary technologies and tools. Shamir developed software dedicated to the design of progressive lenses. This software is based on Shamir's proprietary mathematical algorithms that optimize designs of progressive lenses for a variety of activities and environments. Shamir also has created software tools specifically designed for research and development and production requirements, including Eye Point Technology software, which simulates human vision.

    Contact: Jeffrey Goldberger
             212-896-1249


'/>"/>
SOURCE Shamir Optical Industry Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Shamir Optical Industry Ltd. to Host Conference Call Announcing Third Quarter 2007 Earnings Results
2. Shamir Optical Industry Ltd. to Host Conference Call Announcing Fourth Quarter and Year End 2007 Earnings Results
3. Shamir Optical Industry Ltd. Reports Fourth Quarter and Year-End 2007 Results
4. Shamir Optical Industry Ltd. to Host Conference Call Announcing First Quarter 2008 Earnings Results
5. Shamir Optical Industry Ltd. Reports First Quarter 2008 Results
6. Shamir Optical Industry Purchases Remaining 49% of Altra Trading GmbH
7. Shamir Optical Industry Ltd. to Host Conference Call Announcing Second Quarter 2008 Earnings Results
8. Shamir Optical Industry Ltd. Reports Third Quarter 2008 Results
9. Shamir Optical Industry Ltd. to Host Conference Call Announcing Fourth Quarter and Year End 2008 Earnings Results
10. Shamir Optical Industry Ltd. Reports Fourth Quarter and Year-End 2008 Results
11. Optical scientist honored for understanding and improving vision
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/23/2017)... ... March 23, 2017 , ... A recent report from the National ... preparation programs. The NCTQ report suggests, based on a review of GPA and SAT/ACT ... teacher quality in the U.S. It argues that this higher bar should be set ...
(Date:3/23/2017)... ... March 23, 2017 , ... Demonstrating their commitment to improving ... health departments have been awarded national accreditation through the Public Health Accreditation ... expanding network of communities across the nation whose health departments meet rigorous national ...
(Date:3/23/2017)... ... March 23, 2017 , ... PAINWeekEnd (PWE) Oklahoma City, ... Broadway Avenue, will be an educational and exciting program providing busy clinicians and ... of chronic pain. , Oklahoma is in a healthcare crisis. The state ranks ...
(Date:3/23/2017)... ... ... The MBI “Hall of Fame” recognizes the contributions of those whose careers are or were ... careers of all others involved. , On Monday, March 21st, 2017 Laurie Robert, ... Fame. The induction took place during the World of Modular – Award Gala in ...
(Date:3/23/2017)... ... March 23, 2017 , ... ... services firm serving the families and businesses of the Norwalk and Vermillion ... Northern Ohio Recovery Center (N.O.R.A.) is a nonprofit, community-based substance abuse prevention ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... -- Research and Markets has announced the addition of the ... to 2022" report to their offering. ... The global wound care market was worth $24,482.9 million ... 6.7% during 2016-2022 Among the various wound care products type, ... global market in 2015. Among the various applications, surgical wound segment held ...
(Date:3/24/2017)... Mar. 24, 2017 Research and Markets has announced ... report to their offering. ... This report analyzes the worldwide markets for Dental Implants in US$ ... Canada , Japan , Europe ... and Rest of World. Annual estimates and forecasts are ...
(Date:3/24/2017)... , March 24, 2017 ... providing high-quality and cost-effective drug development and ... pharmaceutical and biotechnology industry, announced today the ... ShangPharma will be consolidating the Contract ... (CMO) under Shanghai ChemPartner. These entities include ...
Breaking Medicine Technology: