PSi Technologies Withdraws Request for Nasdaq Hearing
September 18 2008 - 12:20PM
PR Newswire (US)
MANILA, Philippines, Sept. 18 /PRNewswire-FirstCall/ -- PSi
Technologies Holdings, Inc. (the "Company"), (NASDAQ:PSIT), an
independent provider of assembly and test services for the power
semiconductor market, announced that today it has withdrawn its
request for a hearing before a Nasdaq Hearing Panel concerning its
possible delisting from The Nasdaq Capital Market. In this regard,
the Company determined that it was unlikely the Company would be in
a position to regain and maintain compliance with requirements for
continued listing on The Nasdaq Capital Market. The Company expects
it will be delisted from The Nasdaq Capital Market within several
days. After delisting from Nasdaq, the Company's outstanding
American Depositary Shares ("ADSs") are expected to be quoted,
subject to the interest of market makers, in the Pink Sheets. Pink
Sheets is a centralized quotation service that collects and
publishes market-maker quotes for over-the-counter securities.
About PSi Technologies PSi Technologies is a focused independent
semiconductor assembly and test service provider to the power
semiconductor market. The Company provides comprehensive package
design, assembly and test services for power semiconductors used in
telecommunications and networking systems, computers and computer
peripherals, consumer electronics, electronic office equipment,
automotive systems and industrial products. For more information,
visit the Company's website at http://www.psitechnologies.com/ or
call: At PSi Technologies Holdings, Inc.: At Financial Relations
Board: Larry Cajucom Lasse Glassen (63 2) 838 4489 (213) 486 6546
This press release contains "forward-looking statements," as the
phrase is defined in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements relate to the Company's expectation that
its ADSs will be available for trading on the Pink Sheets. While
these forward-looking statements represent the Company's current
judgment of what may happen in the future, actual results may
differ materially from the results expressed or implied by these
statements due to numerous important factors, including, but not
limited to, those described under the heading "Risk Factors" in the
Company's most recent Annual Report on Form 20-F filed with the
Securities and Exchange Commission ("SEC"), which may be revised or
supplemented in subsequent reports furnished to the SEC. These
factors include, but are not limited to, the pace of development
and market acceptance of the Company's products and the power
semiconductor market generally, commercialization and technological
delays or difficulties, the impact of competitive products and
technologies, competitive pricing pressures, manufacturing risks,
the possibility of our products infringing patents and other
intellectual property of third parties, product defects, costs of
product development, manufacturing and government regulation, risks
inherent in emerging markets, including but not limited to,
currency volatility and depreciation, restricted access to
financing and political and social unrest and the possibility that
the initiatives described herein may not produce the intended
results. The Company undertakes no responsibility to update these
forward-looking statements to reflect events or circumstances after
the date hereof. DATASOURCE: PSi Technologies Holdings, Inc.
CONTACT: Larry Cajucom of PSi Technologies Holdings, Inc., (63 2)
838 4489, ; or Lasse Glassen of Financial Relations Board,
+1-213-486-6546, , for PSi Technologies Holdings, Inc. Web site:
http://www.psitechnologies.com/
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