ASAT Holdings Receives Notice of Delisting from NASDAQ; Company Expects American Depositary Shares Will Trade on the OTCBB
Posted on March 27, 2008
Filed Under Semiconductors
HONG KONG and MILPITAS, Calif., March 26 /PRNewswire-FirstCall/ — ASAT
Holdings Limited (Nasdaq: ASTT) (the “Company”), a global provider of
semiconductor package design, assembly and test services, today announced
that on March 25, 2008 it received notice from the staff of the Nasdaq
Stock Market regarding the Nasdaq Hearing Panel’s determination on the
Company’s non-compliance with Nasdaq continuing listing requirements,
including maintaining the market value of its listed securities above $35
million, its stockholders equity above $2.5 million, and its net income of
at least $500,000 from continuing operations for the most recently
completed fiscal year or two of the last three most recently completed
fiscal years. The Nasdaq Hearings Panel has determined to delist the
Company’s securities from The Nasdaq Stock Market, and will suspend trading
in the Company’s shares effective at the open of business on Thursday,
March 27, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080325/AQTU023LOGO)
After delisting from the Nasdaq Stock Market, the Company expects that
its American Depositary Shares will be traded on the OTC Bulletin Board.
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package
design, assembly and test services. With 19 years of experience, the
Company offers a definitive selection of semiconductor packages and
world-class manufacturing lines. ASAT’s advanced package portfolio includes
standard and high thermal performance ball grid arrays, leadless plastic
chip carriers, thin array plastic packages, system-in-package and flip
chip. ASAT was the first company to develop moisture sensitive level one
capability on standard leaded products. Today the Company has operations in
the United States, Asia and Europe. For more information, visit
http://www.asat.com.
Safe Harbor
This news release contains statements and information that involve
risks, uncertainties and assumptions. These statements and information
constitute “forward-looking statements” within the meaning of federal
securities laws including Section 27A of the United States Securities Act
of 1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended. Such forward-looking statements,
including statements regarding trading on the OTC Bulletin Board, involve
known and unknown risks, uncertainties, assumptions and other factors that
could cause the actual performance of ASAT Holdings Limited to differ
materially from those expressed or implied in any forward-looking
statement. The risks, uncertainties and other factors also include the risk
that an active trading market in the Company’s American Depositary Shares
will not develop or be maintained on the OTC Bulletin Board or any other
trading market and those risks, uncertainties, assumptions and other
factors stated in the section entitled “Risk Factors” in our Annual Report
on Form 20-F filed with the United States Securities and Exchange
Commission on October 15, 2007 and the section entitled “Risk Factors” in
our current reports on Form 6-K containing our quarterly financial
information and filed with the United States Securities and Exchange
Commission. The forward-looking statements in this release reflect the
current beliefs and expectations of the Company as of this date, and the
Company undertakes no obligation to update these projections and forward-
looking statements to reflect actual results or events or circumstances
that occur after the date of this news release.
SOURCE ASAT Holdings Limited
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