News Article
Aviza Technology receives delisting notice from NASDAQ
The company intends to appeal. The application to transfer listing to NASDAQ capital market is denied.
Aviza Technology, a supplier of semiconductor capital equipment and process technologies for the global semiconductor industry and related markets, announced that on September 22, 2008 its application to transfer the listing of its securities to the NASDAQ capital market had been denied and that it received a staff determination letter from NASDAQ on September 24, 2008 notifying the company that its securities are subject to delisting from The NASDAQ global market.
As previously announced, on April 3, 2008, NASDAQ notified the company that the bid price of the company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(a)(5), the Company was provided 180 calendar days, through September 24, 2008, to regain compliance with that requirement. The staff determination letter stated that the company has not regained compliance within the given grace period and, as a result, unless the company requests an appeal of the staff determination, trading of the company’s common stock will be suspended effective on the opening of business on October 3, 2008, and a form 25-NSE will be filed with the Securities and Exchange Commission to remove the company’s securities from listing and registration on NASDAQ.
The Company intends to appeal the staff determination to a NASDAQ Listing Qualification Panel. A hearing request will stay the suspension of the company’s securities and the filing of the form 25-NSE pending the panel’s decision.
As previously announced, on April 3, 2008, NASDAQ notified the company that the bid price of the company's common stock had closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(a)(5), the Company was provided 180 calendar days, through September 24, 2008, to regain compliance with that requirement. The staff determination letter stated that the company has not regained compliance within the given grace period and, as a result, unless the company requests an appeal of the staff determination, trading of the company’s common stock will be suspended effective on the opening of business on October 3, 2008, and a form 25-NSE will be filed with the Securities and Exchange Commission to remove the company’s securities from listing and registration on NASDAQ.
The Company intends to appeal the staff determination to a NASDAQ Listing Qualification Panel. A hearing request will stay the suspension of the company’s securities and the filing of the form 25-NSE pending the panel’s decision.
