Elbit Vision Systems Ltd. Requests a Hearing before Nasdaq Listing Qualifications Panel.Business Editors TEL-AVIV, Israel--(BUSINESS WIRE)--Sept. 4, 2003 Elbit Vision Systems Ltd. (Nasdaq:EVSN EVSN External Volume Serial Number (Veritas Net Backup) EVSN Ecumenical Volunteer Service Network (Baltimore, MD) EVSN Eigenverlag Sieberichs-Nau EVSN European Vacuum Science Network EVSN European Virtual Seismic Network ) announced today that following yesterday's announcement that its shares are to be delisted from the Nasdaq SmallCap Market, the Company has decided to appeal the 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. ruling by Nasdaq Staff. Consequently, the Company has today requested an Oral hearing before a NASDAQ Listing Qualifications Panel. The hearing request will stay the delisting of the Company's securities from the Nasdaq SmallCap Market which was due to have occurred at the opening of business on September 8, 2003, until a decision is made following the hearing. The hearing is expected to be held within 45 days of the company's request. At the hearing, the Company will present its plans for compliance with the NASDAQ SmallCap 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. . There can be no assurance that the Listing Qualifications Panel will grant the company's request for continued listing. About the Company: Elbit Vision Systems Ltd. is an innovative company that develops, markets and supplies solutions, products and services worldwide for the modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, and improvement of production processes by computerized computerized adapted for analysis, storage and retrieval on a computer. computerized axial tomography see computed tomography. vision technology to the textile market in its various applications as well as to other web inspection applications. Established in 1991, EVS EVS European Voluntary Service EVS Environmental Science EVS Electric Vehicle Symposium EVS Enhanced Vision System EVS environmental studies EVS European Values Study EVS Electronic Verification System EVS Extreme Voltage Shutdown is a public held company headquartered in Yokne'am, Israel, with offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Asia. Forward looking statements in this release with respect to the Company's business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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