TEL AVIV, Israel, June 28, 2016 /PRNewswire/ --
RiT Technologies Ltd. (NASDAQ: RITT), a leading provider of
Converged Infrastructure Management Solutions, announced today that
on June 22, 2016, it received a
notice from Nasdaq in the form of a staff determination letter,
informing the Company that its plan to regain compliance with the
Nasdaq Listing Rules has been rejected and that the Company's
request for continued listing on the Nasdaq Capital Market was
denied. The Company does not intend to appeal the staff's
determination. The Nasdaq Staff has determined to initiate
procedures to delist the Company's securities from the Nasdaq Stock
Market. The trading of the Company's securities will be suspended
at the opening of business on July 1,
2016, and thereafter be removed from listing on the Nasdaq
Stock Market. The Company's securities may be eligible to continue
to be quoted on the OTC Bulletin Board or in the "Pink Sheets."
About RiT Technologies
RiT Technologies (NASDAQ: RITT) is a leading provider of
converged IT infrastructure management and connectivity solutions.
RiT offers a platform that provides a unified way to manage
converged systems and services to improve network utilization,
streamline infrastructure operations, reduce network operation
cost, optimize future investments and enhance data security.
RiT's connectivity solution includes IIM - Intelligent
Infrastructure Management, high performance end-to-end structured
cabling solutions.
RiT Technologies' subsidiary RiT Wireless Ltd. produces a range
of optical wireless solutions under the Beamcaster brand, which
provide high speed, highly secure data communications across indoor
open spaces.
Deployed around the world in data centers, large corporations,
government agencies, financial institutions, telecommunications,
airport authorities, healthcare organizations and educational
facilities. RiT's shares are traded on the NASDAQ Capital Market
under the symbol RITT.
Contact:
Mr. Sergey Anisimov,
Chairman of the Board of RiT Technologies Ltd.
+972-772707200
http://www.rittech.com
SOURCE RiT Technologies