Alliance Receives Delisting Notification from Nasdaq
Alliance Semiconductor Corp. (Santa Clara, CA), a provider of analog and mixed signal products for the communications market, announced that on November 15, 2005, it received a Nasdaq Staff's Determination stating the company is not in compliance with Nasdaq's Marketplace Rule 4310(c)(14) because the company has not yet filed its quarterly report on Form 10-Q for its quarter ended September 24, 2005. Alliance was informed that, according to Nasdaq regulations, unless a hearing to appeal the Staff's Determination is requested by the company on or before 4:00 p.m. Eastern Time on November 22, 2005, its common stock will be delisted from the Nasdaq National Market at the opening of business on November 25, 2005.
In accordance with Nasdaq's rules, Alliance presently intends to request a hearing before a Nasdaq Listing Qualifications Panel for continued listing on the Nasdaq National Market. Pending a decision by the Nasdaq Listing Qualifications Panel, the company's common stock will remain listed on the Nasdaq National Market. There can be no assurance that the Panel will grant the company's request for continued listing or that the company will regain compliance with its filing requirements in a timely manner.
Additionally, Nasdaq Staff's Determination stated that at the opening of business on November 17, 2005, it would add an "E" to the end of the company's ticker symbol. As such, starting at the opening of business on November 17, 2005, Alliance will trade under the ticker symbol "ALSCE."