Zhone Technologies, Inc : Zhone Technologies Granted 180-Day Extension by
Nasdaq to Regain Compliance with Minimum Bid Price Rule
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Oakland, CA - December 19, 2012 - Zhone Technologies, Inc. (NASDAQ: ZHNE), a
global leader in FTTx network access solutions, today announced that on
December 19, 2012, it received notification from The Nasdaq Stock Market
granting the company an additional 180-day period, or until June 17, 2013, to
regain compliance with Nasdaq's minimum $1.00 bid price per share rule
required for continued listing on The Nasdaq Capital Market.
To regain compliance, the closing bid price of the Company's common stock must
be at or above $1.00 per share for a minimum of 10 consecutive business days
prior to June 17, 2013.
If the company does not regain compliance by the end of this second grace
period, it will receive notification from Nasdaq that its shares are subject
to delisting. At that time, the company may then appeal the delisting
determination to a Hearings Panel.
There can be no assurances that the company will be able to regain compliance
with the Nasdaq minimum bid price rule and thereby maintain the listing of its
About Zhone Technologies
Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader inall IP
multi-service access solutions, serving more than 750 of the world's most
innovative network operators.The IP Zhone is the only solution that enables
service providers to build the network of the future.today, supporting
end-to-end Voice, Data, Entertainment Social Media, Business, Mobile Backhaul
and Mobility service. Zhone is committed to building the fastest and highest
quality All IP Multi-Service solution for its customers. Zhone is
headquartered in California and its products are manufactured in the USA in a
facility that is emission, waste-water and CFC free.
Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone
Technologies, Inc. Other brand and product names are trademarks of their
respective holders. Specifications, products, and/or products names are all
subject to change without notice.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Zhone Technologies, Inc via Thomson Reuters ONE
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