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:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their ... Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. , ... Pro X users can now reveal the media of their split screens with ...
(Date:6/26/2016)... ... 27, 2016 , ... Quality metrics are proliferating in cancer care, and are ... the eye of the beholder, according to experts who offered insights and commentary in ... Managed Care. For the full issue, click here . , For the American ...
(Date:6/26/2016)... Birmingham, Lake Orion, Clarkston, Michigan (PRWEB) , ... ... ... their direction with respect to fertility once they have been diagnosed with endometriosis. ... for tolerable intercourse but they also require a comprehensive approach that can help ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room ... Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of ...
(Date:6/24/2016)... Angeles, CA (PRWEB) , ... June 24, 2016 , ... ... surgery procedures that most people are unfamiliar with. The article goes on to state ... procedures, but also many of these less common operations such as calf and cheek ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016 Research and Markets has ... by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), ... Parenteral) - Global Forecast to 2021" report to ... The global pharmaceutical excipients market is projected to reach ... 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Global MEMS Devices Medical Market Analysis 2016 - Forecast to ... The report contains up to date financial ... reliable analysis. Assessment of major trends with potential impact on ... dive analysis of market segmentation which comprises of sub markets, ...
(Date:6/23/2016)... June 23, 2016 Bracket , a leading ... next generation clinical outcomes platform, Bracket eCOA (SM) 6.0, ... June 26 – 30, 2016 in Philadelphia ... Clinical Outcome Assessment product of its kind to fully integrate ... Bracket eCOA 6.0 is a flexible platform for electronic ...
Breaking Medicine Technology: