ClickSoftware to Remain Listed On Nasdaq Stock Market Pending Appeal to Listing Qualifications Panel.Business Editors/High-Tech Writers BURLINGTON, Mass.--(BUSINESS WIRE)--Nov. 27, 2002 ClickSoftware Technologies, Ltd. (Nasdaq: CKSWE) announced today that it has requested an oral hearing before a Nasdaq Listing Qualifications Panel in order to present its plan for regaining compliance with NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Marketplace Rule 4310(c)(14), which requires that Nasdaq issuers timely file their periodic reports in compliance with the reporting obligations under the federal securities laws. The Company's securities will remain listed on the Nasdaq SmallCap market under the trading symbol Trading symbol See: Ticker symbol "CKSWE" pending a decision by the Panel. At the hearing, which is expected to be scheduled within the next 45 days, ClickSoftware will explain the circumstances surrounding its failure to file its Form 10-Q Form 10-Q See 10-Q. for the period ending September 30, 2002, and will present its plan for regaining compliance. There can be no assurance that the Panel will grant ClickSoftware's request for continued listing. About ClickSoftware ClickSoftware is a leading provider of end-to-end service chain optimization. ClickSoftware's solutions cover daily scheduling, real time wireless monitoring and rescheduling, problem resolution, short term resource planning Resource planning may refer to:
This press release contains express or implied forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. These forward-looking statements include, but are not limited to, those regarding the Company's filing of its report for the third quarter of 2002 and other reports containing restated financial statements, and the Company's plans to appeal its delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. notice to the Nasdaq Listing Qualifications Panel. Such "forward-looking statements" involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance to be materially different from those projected. These risks include the Company's ability to obtain the assistance from third parties necessary to restate its financial statements; the uncertainty created by the re-audit of the Company's past operational results; the ability of the Company to file SEC reports in a timely manner; the timing of an annual meeting of shareholders; and the Listing Qualifications Panel's determination of the adequacy of the Company's compliance plan. For more information regarding the risks facing the Company, please see the Company's 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 year ended December 31, 2001 and subsequent quarterly reports on Form 10-Q and its other filings with the Securities and Exchange Commission. ClickSoftware does not undertake to update any forward-looking statements. |
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