NUR Macroprinters Receives NASDAQ Delisting Compliance Notice
Press release from the issuing company
LOD, Israel, Nov. 7 -- NUR Macroprinters Ltd. (Nasdaq: NURM), a world leading manufacturer of wide-format and superwide digital printing systems and consumables for the out-of-home advertising market, today announced that it has received a compliance notice from The NASDAQ Stock Market, Inc., stating that, for a period of 30 consecutive trading days, the Company's ordinary shares closed below the minimum price of $1.00 per share as required for continued listing on The NASDAQ National Market. NUR is currently reviewing its options to meet the requirements for continued listing on NASDAQ.
In accordance with Marketplace Rule 4450(e)(2), NUR will have until February 3, 2003, or 90 calendar days from the date of the compliance notice, to regain compliance with NASDAQ's continued listing requirements. If at any time before February 3, 2003, the closing bid price of NUR's ordinary shares is at least $1.00 per share for a minimum of ten consecutive trading days, the NASDAQ staff will provide written notification that NUR is in compliance with Marketplace Rule 4450(e)(2).
If NUR is unable to demonstrate compliance with the continued listing requirements on or before February 3, 2003, the NASDAQ staff will provide NUR with written notification that its securities will be delisted. At that time, NUR may appeal the NASDAQ staff's decision to a NASDAQ Listing Qualifications Panel, or it may apply to transfer its securities to The NASDAQ SmallCap Market.
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