Velti Receives NASDAQ Notice Of Non-Compliance With Minimum Bid Price Rule

  Velti Receives NASDAQ Notice Of Non-Compliance With Minimum Bid Price Rule

PR Newswire

SAN FRANCISCO, Oct. 10, 2013

SAN FRANCISCO, Oct. 10, 2013 /PRNewswire/ --Velti plc (NASDAQ: VELT), the
leading global provider of mobile marketing and advertising technology and
solutions announced receipt of written notice on October 3, 2013, from the
Listing Qualifications Department of The NASDAQ Stock Market LLC ("NASDAQ")
notifying the Company that for the preceding 30 consecutive business days, the
Company's ordinary shares did not maintain a minimum closing bid price of
$1.00 ("Minimum Bid Price Requirement") per share as required by NASDAQ
Listing Rule 5450(a)(1). The notice has no immediate effect on the listing or
trading of the Company's ordinary shares and the ordinary shares will continue
to trade on The NASDAQ Global Select Market under the symbol "VELT" at this
time.

In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has a grace
period of 180 calendar days, or until April 1, 2014, to regain compliance with
NASDAQ Listing Rule 5450(a)(1). Compliance can be achieved automatically and
without further action if the closing bid price of the Company's ordinary
shares is at or above $1.00 for a minimum of 10 consecutive business days at
any time during the 180-day compliance period.

If the Company does not achieve compliance with the Minimum Bid Price
Requirement by April 1, 2014, the Company may be eligible for additional time
by applying to transfer the listing of its ordinary shares to The NASDAQ
Capital Market.

If the Company does not regain compliance during the initial grace period and
is not eligible for an additional grace period, NASDAQ will notify the Company
that its ordinary shares will be subject to delisting. If the Company receives
a notice of delisting, the Company would then be entitled to appeal the NASDAQ
Staff's determination to a NASDAQ Listing Qualifications Panel and request a
hearing. The Company is currently considering available options to resolve the
listing deficiency and to regain compliance. There can be no assurance that
the Company will be able to regain compliance with The NASDAQ Global Select
Market listing requirements.

About Velti

Velti is a leading global provider of mobile marketing and advertising
technology and solutions that enable brands, advertising agencies, mobile
operators and media to implement highly targeted, interactive and measurable
campaigns by communicating with and engaging consumers via their mobile
devices. The Velti platform, called Velti mGage™, allows companies to use
mobile and traditional media to reach targeted consumers, engage the consumer
through the mobile Internet and applications, convert them into customers and
continue to actively manage the relationship through the mobile channel. Velti
is a publicly-held corporation based in Jersey, and trades on the NASDAQ
Global Select Market under the symbol VELT. For more information, visit
www.velti.com.

The Velti logo is available at http://www.globenewswire.com/newsroom/

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:  This release contains forward-looking statements, including
statements regarding the Company's potential delisting from the NASDAQ Global
Select Market. These statements involve current expectations, forecasts of
future events and other statements that are not historical facts. Inaccurate
assumptions and known and unknown risks and uncertainties can affect the
accuracy of forward-looking statements and cause actual results to differ
materially from those expected or implied by the forward-looking statements.
Factors that could affect actual future events or results include, but are not
limited to, the risk that the Company will be unable regain compliance with
the NASDAQ Global Select Market listing requirements, resulting in the
inability of the Company to maintain its listing on the NASDAQ Global Select
Market, is unable to meet the requirements to trade on the NASDAQ Capital
Market if it is unable to regain compliance with the continued listing
requirements of the NASDAQ Global Select Market, and that an over-the-counter
market will not trade the Company's shares if NASDAQ delists the Company.
Other risks include the risk that the Company is unable to satisfy its
obligations under its secured credit agreements, generate sufficient cash and
reduce expenses to meet its tight cash flow requirements and successfully
conclude strategic options for which it has engaged its investment bankers,
including the sale of its Mobclix business.

Such statements speak only as of the date hereof and are subject to change.
We undertake no obligation to revise or update publicly any forward-looking
statements for any reason. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Therefore, our actual results could differ
materially and adversely from those expressed in any forward-looking
statements as a result of various factors.

Further information on Velti, including additional risk factors that may
affect our forward looking statements, is contained in SEC filings that are
available through the SEC's website.



SOURCE Velti plc

Website: http://www.velti.com
Contact: Jeffrey G. Ross, 415-315-3400, Chief Financial Officer,
jross@velti.com, and Leslie Green, 415-315-3400, Investor Relations,
lgreen@velti.com
 
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