GIVAT SHMUEL, Israel - Cimatron Limited, a provider of integrated CAD/CAM solutions, announced today that on September 16, 2009 it received a NASDAQ Staff Deficiency Letter, indicating that the Company has failed to comply with the minimum bid price requirement for continued listing set forth in Listing Rule 5550(a)(2).
The letter provides that the Company has until March 15, 2010 to regain compliance. Compliance will be regained if during the period ending on March 15, 2010 the bid price of the Company's ordinary shares closes at $1.00 per share or more for a minimum of 10 consecutive business days. If the Company is not in compliance with Listing Rule 5550(a)(2) by March 15, 2010, then the Company may still be afforded a second 180 calendar day grace period in which to regain compliance, provided that it satisfies the NASDAQ Capital Market's initial listing criteria (except for the bid price requirement), as set forth in Listing Rule 5810(c)(3)(A)(ii).
The Company is examining several potential courses of action aimed at supporting the Company in regaining compliance with the requirements for continued listing.
Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT.
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