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:2/13/2016)... ... ... DDi , a Makro company, makes it to ... in eClinical Solutions. DDi has built its solution competency with a unique blend ... DDi provides smarter technology for Clinical Development, Regulatory and Enterprise domains by providing ...
(Date:2/12/2016)... , ... February 12, 2016 , ... ... devoted exclusively to funding innovative lymphoma research and serving the lymphoma community through ... over 250 members of South Florida’s philanthropic community at its 10th anniversary Fashion ...
(Date:2/12/2016)... ... 2016 , ... Coco Libre, the maker of coconut water beverages with a ... Lounge Event. Coco Libre will offer musicians and celebrities the company’s signature Organic Coconut ... invitation-only gifting suite, held this year at the W Hollywood Hotel, has become a ...
(Date:2/12/2016)... ... February 12, 2016 , ... Fisher House Foundation Chairman ... John J. Lee, Nevada Military Support Alliance president Scott Bensing, and Peggy Kearns Director, ... VA Southern Nevada Healthcare System. This will be the first Fisher House in ...
(Date:2/12/2016)... ... February 12, 2016 , ... Young ... area, celebrates the beginning of the latest charity campaign in their community enrichment ... art. Donations to this worthy cause are currently being accepted at: http://artexpressioninc.org/ ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... , Kalifornien, 12. Februar 2016  Sequent ... der Aufnahme von Patienten für eine Studie zur ... Aneurysmen („WEB") speziell für die Behandlung von rupturierten ... , MD, Leiter der Neuroradiologie an der Universitätsklinik ... und Hauptprüfarzt der CLARYS-Studie hat den ersten Patienten ...
(Date:2/12/2016)... , Feb. 12, 2016  Eli Lilly and Company ... Court decided the Alimta® (pemetrexed disodium) vitamin regimen patent would ... the UK, France , Italy ... to dilute the product only with dextrose solution.  ... 2015, the UK Court of Appeal held that Lilly,s patent ...
(Date:2/12/2016)... BUDAPEST , Ungarn, February 12, 2016 ... ein Medizintechnikunternehmen, das sich auf den ungedeckten ... gab heute positive Ergebnisse seines klinischen Forschungsprogramms ... und Asthma-Patienten beschäftigt, ergab Verbesserungen ihrer respiratorischen ... Indiso ltd , ein Medizintechnikunternehmen, das ...
Breaking Medicine Technology: