Business Services Industry
VocalTec Receives Notice from Nasdaq
Business Wire, July 25, 2008
HERZLIA, Israel -- VocalTec Communications Ltd. (Nasdaq Capital Market:VOCL), a global provider of carrier-class multimedia and voice-over-IP solutions for communication service providers, announced today that on July 22, 2008 it received from The Nasdaq Stock Market written notice that, following resignation of Ms. Michal Even-Chen from the company's board of directors, the company is not in compliance with the requirement set forth in Nasdaq's Marketplace Rule 4350 that the audit committee of the company's board of directors have three independent members.
The letter also provides that the company may cure such non-compliance either (i) until the earlier of the company's next annual shareholders' meeting or July 3, 2009 or (ii) if the next annual shareholders' meeting is held before January 5, 2009, then the company must evidence compliance no later than January 5, 2009. The company intends to take all necessary action required to comply with the foregoing requirement.
About VocalTec Communications Ltd.
VocalTec Communications (Nasdaq:VOCL) is a global provider of carrier-class multimedia and voice-over-IP solutions for communication service providers. A pioneer in VoIP technology since 1994, VocalTec provides proven trunking, peering and residential/enterprise VoIP application solutions that enable flexible deployment of next-generation networks (NGNs). Partnering with prominent system integrators and equipment manufacturers, VocalTec serves an installed base of dozens of leading carriers including Deutsche Telekom and Telecom Italia San Marino. VocalTec is led by a management team comprised of respected industry veterans.
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