Published: September 17, 2009
Cimatron Receives Notice From NASDAQ
GIVAT SHMUEL, Israel , September 17 /PRNewswire-FirstCall/ -- Cimatron
Limited (Nasdaq: CIMT) ("Cimatron" or the "Company"), a leading provider of
integrated CAD/CAM solutions for mold, tool and die makers as well as
manufacturers of discrete parts, announced today that on September 16, 2009
it received a NASDAQ Staff Deficiency Letter, indicating that the Company has
failed to comply with the minimum bid price requirement for continued listing
set forth in Listing Rule 5550(a)(2). The letter provides that the Company
has until March 15, 2010 to regain compliance. Compliance will be regained if
during the period ending on March 15, 2010 the bid price of the Company's
ordinary shares closes at $1.00 per share or more for a minimum of 10
consecutive business days. If the Company is not in compliance with Listing
Rule 5550(a)(2) by March 15, 2010, then the Company may still be afforded a
second 180 calendar day grace period in which to regain compliance, provided
that it satisfies the NASDAQ Capital Market's initial listing criteria
(except for the bid price requirement), as set forth in Listing Rule
5810(c)(3)(A)(ii). The Company is examining several potential courses of
action aimed at supporting the Company in regaining compliance with the
requirements for continued listing.
About Cimatron
With over 25 years of experience and more than 40,000 installations
worldwide, Cimatron is a leading provider of integrated, CAD/CAM solutions
for mold, tool and die makers as well as manufacturers of discrete parts.
Cimatron is committed to providing comprehensive, cost-effective solutions
that streamline manufacturing cycles, enable collaboration with outside
vendors, and ultimately shorten product delivery time.
The Cimatron product line includes the CimatronE and GibbsCAM brands with
solutions for mold design, die design, electrodes design, 2.5 to 5 axes
milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and
tombstone machining. Cimatron's subsidiaries and extensive distribution
network serve and support customers in the automotive, aerospace, medical,
consumer plastics, electronics, and other industries in over 40 countries
worldwide.
Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT.
For more information, please visit the company web site at:
http://www.cimatron.com
This press release includes forward looking statements, within the
meaning of the Private Securities Litigation Reform Act Of 1995, which are
subject to risk and uncertainties that could cause actual results to differ
materially from those anticipated. Such statements may relate to the
company's plans, objectives and expected financial and operating results. The
words "may," "could," "would," "will," "believe," "anticipate," "estimate,"
"expect," "intend," "plan," and similar expressions or variations thereof are
intended to identify forward-looking statements. Investors are cautioned that
any such forward-looking statements are not guarantees of the future
performance and involve risks and uncertainties, many of which are beyond the
company's ability to control. The risks and uncertainties that may affect
forward looking statements include, but are not limited to: currency
fluctuations, global economic and political conditions, marketing demand for
Cimatron products and services, long sales cycle, new product development,
assimilating future acquisitions, maintaining relationships with customers
and partners, and increased competition. For more details about the risks and
uncertainties of the business, refer to the Company's filings with the
Securities and Exchanges Commission. The company cannot assess the impact of
or the extent to which any single factor or risk, or combination of them, may
cause. Cimatron undertakes no obligation to publicly update or revise any
forward looking statements, whether as a result of new information, future
events or otherwise.
For More Information Contact:
Ilan Erez
Chief Financial Officer
Cimatron Ltd.
Phone: +972-3-531-2121
Email: ilane@cimatron.com
SOURCE Cimatron Ltd
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