Alvarion receives additional Nasdaq notification

theflyonthewall.com

Alvarion announced that it has received notice from the Listing Qualifications Staff of The NASDAQ Stock Market indicating that the company's failure to solicit proxies and to hold an annual meeting of shareholders for fiscal year 2013, as required by NASDAQ Listing Rules 5620(a) and 5620(b), and its failure to file a Form 6-K containing interim financial statements for the period ended June 30, 2013, as required by NASDAQ Listing Rule 5250(c)(2), may serve as additional bases for the delisting of the Company's securities from NASDAQ. The company has been provided with the opportunity to present its plan to evidence compliance with those requirements for review by the NASDAQ Listing Qualifications Panel and intends to timely do so. In addition, the company has been previously notified by NASDAQ that its closing bid price has been less than $1.00 per ordinary share for 30 consecutive business days and that it therefore does not satisfy NASDAQ's minimum bid requirement of $1.00 per share necessary for continued listing on The NASDAQ Capital Market.

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