Centura Software NASDAQ SmallCap Market Exception Removed.REDWOOD SHORES, Calif.--(BUSINESS WIRE)--March 17, 1998--Centura Software Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNTRC)(CNTR/"Centura"/formerly Gupta Corporation) announced today that a NASDAQ qualifications panel has decided to remove the temporary exception for continued listing of Centura on The NASDAQ SmallCap Market, effective with the opening of business on March 18, 1998. The qualifications panel had issued the temporary exception from the SmallCap tangible net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. requirement on January 15, 1998. The panel required that Centura comply with all SmallCap continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. by February 27, 1998, which was successfully achieved. Centura's NASDAQ SmallCap symbol will return to CNTR CNTR Center CNTR Container CNTR Control CNTR Counter on March 18, 1998, as it had been prior to the listing exception. "The new management team is very pleased that we were able to complete the recapitalization within the time constraints prescribed by NASDAQ for continued listing" said John Bowman, Centura's CFO See Chief Financial Officer. . "The additional capital gives Centura a much stronger balance sheet as we further our efforts to turn the Company around. Continued listing on The NASDAQ SmallCap Market will maintain a presence for Centura in the capital markets, as well as enable shareholders to participate in active trading of Centura stock." About Centura Software Centura Software, founded as Gupta in 1984, was the first software developer to create a client/server fully relational DBMS for the personal computer. Its product lineup includes the award-winning SQLBase embedded database, application development tools and an array of Internet and connectivity products. Centura has 26 offices around the world, supporting hundreds of thousands of developers who embed its tools in applications used by more than 1 million end users. The company's client/server products are Web capable and mobile ready. New Centura products are all Year 2000 compliant a. 1. (Computers) having dates fully and properly represented, and not susceptible to failure due to the year 2000 bug. . Current worldwide customers include Deutsche Bank, Pemex, UPS, Mitsubishi, ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. , Ford Motor Company, Softbank, Hong Kong Telecom and Siemens-Nixdorf. Further information on Centura Software can be obtained by accessing its Web site http://www.centurasoft.com. Headquartered in Redwood City, Calif., Centura Software is traded on the NASDAQ exchange under the symbol CNTR. Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties, including the timely shipments of new products, the effect of competitive pressures and the other risks detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 1996 and the Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. for the quarters ended March 31, June 30, and September 30, 1997. CONTACT: Centura Software Corp. John Bowman, 650/596-3400 www.centurasoft.com or Miller/Shandwick Technologies Michael Celiceo, 650/962-9550 mceliceo@miller.shandwick.com |
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