Pixelplus Announces Receipt of Equity Deficiency Notification Letter from Nasdaq
23 Junho 2008 - 9:01AM
PR Newswire (US)
SEOUL, South Korea, June 23 /PRNewswire-FirstCall/ -- Pixelplus
Co., Ltd. (NASDAQ:PXPL), a fabless semiconductor company in Korea
that designs, develops, and markets CMOS image sensors for various
consumer electronics applications, today announced that the Company
received an equity deficiency notification letter from Nasdaq on
June 20, 2008 stating that the Company is failing to comply with
the minimum $10,000,000 stockholders' equity requirement for
continued listing on The Nasdaq Global Market under Marketplace
Rule 4450(a)(3). The Company intends to furnish Nasdaq with a plan
that will entail specific measures to achieve and sustain
compliance with all Nasdaq Global Market listing requirements,
including the minimum stockholders' equity requirement, on or
before July 7, 2008. However, there can be no assurance that Nasdaq
will find such plan sufficient, and it may determine that the
Company's plan to meet the Global Market listing requirements is
insufficient. If Nasdaq determines that the Company has not
presented a definitive plan to achieve compliance in the short term
and sustain compliance in the long term, the Company may be
required to delist its ADSs or transfer the listing of its ADSs to
The Nasdaq Capital Market. About Pixelplus Co., Ltd. Pixelplus is a
South Korea-based developer of high-performance, high-resolution,
and cost-effective CMOS image sensors for use primarily in mobile
camera phones. In addition to mobile phones, Pixelplus provides
CMOS image sensors and SoC solutions for use in webcams and
notebook embedded cameras, toys and games, and security and
surveillance systems applications. As a fabless semiconductor
company, Pixelplus is focused on creating proprietary design
technologies to develop CMOS image sensors with sharp, colorful and
enhanced image quality, size efficiency, and low power consumption.
Contact: Shane Y. Hong Pixelplus Co., Ltd. 6th Floor, Gyeonggi
R&DB Center 906-5 Iui-dong, Yeongtong-gu, Suwon-si Gyeonggi-do,
443-766, Republic of Korea +82-31-888-5300 OR Taylor Rafferty:
London -- Emilia Whitbread at +44 (0) 20 7614 2900 New York --
Jessica McCormick at +1 212 889 4350 Tokyo -- Jason Wagers at +81
(0) 3 3221 9513 Email DATASOURCE: Pixelplus Co., Ltd. CONTACT:
Shane Y. Hong of Pixelplus Co., Ltd., +82-31-888-5300; or Taylor
Rafferty: London, Emilia Whitbread, +44(0)20-7614-2900, or New
York, Jessica McCormick, +1-212-889-4350, or Tokyo, Jason Wagers,
+81(0)3-3221-9513,
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