Metalink Ltd. (Nasdaq: MTLK) - once a dual-listed company - will be delisted by Nasdaq Stock Market LLC on Thursday. Nasdaq notified the company that it has failed to regain compliance with the minimum $1.00 per share requirement for continued listing.
Metalink does not intend to appeal the delisting determination. However, the shares are eligible for quotation on the OTC Bulletin Board or in the Pink Sheets.
Metalink CEO Zvika Shukhman founded the company. In January 2010, the financially troubled company sold its main business - the development WLAN processors, which it hoped would be its new growth engine, to Lantiq Inc. - and remained with its it original business of developing DSL processors.
The company delisted from the Tel Aviv Stock Exchange (TASE) in March 2010.
Metalink's share closed at $0.82 yesterday, giving a market cap of $2.2 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 20, 2011
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