YAKUM, Israel, October 18, 2010 /PRNewswire-FirstCall/ -- Metalink Ltd.
(NASDAQ: MTLK) today announced that it has received notification from The
NASDAQ Stock Market that it is no longer in compliance with the continued
listing requirements for The NASDAQ Capital Market (Rule 5550(a)(2)) as a
result of the closing bid price per share of the Company's ordinary shares
falling below the minimum trading price of $1.00 for thirty consecutive
business days.
NASDAQ provided Metalink with a compliance period of 180 calendar days,
or until April 11, 2011, to regain compliance with the bid price requirement
before its shares will be delisted from NASDAQ. Compliance is achieved if, at
anytime before April 11, 2011, the bid price of the Company's ordinary shares
closes at $1.00 per share or more for at least 10 consecutive business days.
At the end of such compliance period, the Company may be afforded an
additional compliance period of 180 days if it meets the other initial
listing requirements of the NASDAQ Capital Market at that time.
About Metalink
Metalink shares trade on Nasdaq under the symbol "MTLK". For more
information, please visit our website at http://www.MTLK.com.
Safe Harbor Statement
This press release contains "forward looking statements" within the
meaning of the United States securities laws. Words such as "aim," "expect ,"
"estimate," "project," "forecast," "anticipate," "intend," "plan," "may ,"
"will," "could," "should," "believe," "predicts," "potential," "continue ,"
and similar expressions are intended to identify such forward-looking
statements. Because such statements deal with future events, they are subject
to various risks and uncertainties that could cause actual results to differ
materially from those in the forward looking statements. Factors that could
cause or contribute to such differences include, but are not limited to:
absence of significant operations following the Lantiq transaction;
uncertainty as to our future business model and our ability to identify and
evaluate suitable business opportunities; and our U.S. shareholders may
suffer adverse tax consequences if we will be classified as a passive foreign
investment company. Additional factors that could cause actual results to
differ materially from these forward-looking statements are set forth from
time to time in Metalink's filings with the Securities and Exchange
Commission, including Metalink's Annual Report in Form F-20. Readers are
cautioned not to place undue reliance on forward- looking statements. Except
as required by applicable law, the Company undertakes no obligation to
republish or revise forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrences of
unanticipated events. The Company cannot guarantee future results, events,
and levels of activity, performance, or achievements.
Contact:
Neta Eshed
General Counsel
Metalink Ltd.
Tel: +972-77-4495900
Fax: +972-77-4495901
Neta@MTLK.com
SOURCE Metalink Ltd
METALINK LTD. 
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