News

29 September 2008

 

Aviza to appeal delisting notice from NASDAQ

Etch and deposition equipment maker Aviza Technology Inc of Scotts Valley, CA, USA says that last week, on 22 September, its application to transfer the listing of its securities to The NASDAQ Capital Market was denied and that it received a Staff Determination Letter from NASDAQ on 24 September notifying it that its securities are subject to delisting from The NASDAQ Global Market.

On 3 April, NASDAQ notified Aviza that the bid price of its common stock had closed below the minimum $1 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5), and that it had 180 days to regain compliance. Last week's Staff Determination Letter stated that Aviza had since not regained compliance and, as a result, trading of its common stock will be suspended on 3 October, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove its securities from listing and registration on NASDAQ.

Aviza says that it intends to appeal the Staff Determination to a NASDAQ Listing Qualification Panel. A hearing request will stay suspension of the securities and the filing of the Form 25-NSE pending the panel's decision.

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Visit: www.aviza.com