Printer Friendly
The Free Library
23,403,340 articles and books

NEI Receives Notification From NASDAQ.

CANTON, Mass., May 31, 2012 /PRNewswire/ -- NEI NEI National Eye Institute (NIH)
NEI Nuclear Energy Institute
NEI National Emission Inventory
NEI Not Enough Information
NEI Netherlands East Indies
NEI Nuevos Estados Independientes
 (Nasdaq: NEI),a leading provider of server-based application platforms, deployment solutions and lifecycle support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services  for software technology developers and OEMs worldwide, today announced that on May 29, 2012, it received a letter from The NASDAQ Stock Market Nasdaq stock market

The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies.
 notifying NEI that during the preceding 30 consecutive trading days the closing bid price of NEI's common stock has been below the $1.00 minimum bid per share required for continued listing on the NASDAQ Global Market under NASDAQ Marketplace Rule 5450(a)(1).

This letter has no immediate effect on the listing of NEI's common stock.

The letter stated that, in accordance with NASDAQ Marketplace Rule 5810(c)(3), NEI will be provided 180 calendar days, or until November 26, 2012, to regain compliance with the minimum bid price requirement set forth in NASDAQ Marketplace Rule 5450(a)(1) by maintaining a closing bid price of $1.00 per share or higher for a minimum of 10 consecutive trading days. If NEI is unsuccessful in meeting the minimum bid requirement during this initial 180-day period, NASDAQ will provide notice to NEI that NEI's common stock will be delisted from the NASDAQ Global Market. If NEI receives such a notice, it may appeal the determination to the NASDAQ Listing Qualifications Panel. It may also apply to transfer its common stock to the NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1]

The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for
 if NEI satisfies all criteria for initial listing on the NASDAQ Capital Market, other than compliance with the minimum bid price requirement. If such application to the NASDAQ Capital Market is approved, then NEI will have an additional 180-day compliance period in order to regain compliance with the minimum bid price requirement while listed on the NASDAQ Capital Market.

NEI is considering alternatives to regain compliance with the 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.
 of the NASDAQ Global Market within the initial 180-day period.

About NEI

NEI is a leading provider of server-based application platforms and lifecycle support services for software developers and OEMs worldwide. Through its expertise and comprehensive suite of solution design, system integration, application management, global logistics, support, and maintenance services, NEI is redefining application deployment solutions to provide customers with a sustainable competitive advantage. More than a decade of appliance innovation with the ability to provide physical, virtual and cloud-ready solutions makes NEI one of the most trusted software deployment partners in the industry. Founded in 1997, NEI is headquartered in Canton, Massachusetts, with facilities in Plano, Texas and Galway, Ireland, and trades on the NASDAQ exchange under the symbol NEI. For more information, visit

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 for Forward-Looking Statements

Statements in this press release regarding the Company's ability to regain compliance with the continued listing requirements of the NASDAQ Global Market and any other statements about the Company's management's future expectations, beliefs, goals, plans or prospects, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in the Company's most recent Annual Report on Form 10-K for the year ended September 30, 2011 and the most recent Form 10-Q for the quarter ended March 31, 2012 under the section "Risk Factors" as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. Forward-looking statements include statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. The Company assumes no obligations to update the information included in this press release.


Hayden IR Peter Seltzberg 646-415-8972

COPYRIGHT 2012 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

 Reader Opinion




Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 31, 2012
Previous Article:Mobilis Enable Biometric and NFC World Firsts for Mobile Wallets.
Next Article:eFileCabinet Releases Advanced Document Management Workflow Module.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters