LCC International Notifies NASDAQ of Voluntary Delisting
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MCLEAN, Va.--(Business Wire)--
LCC International, Inc. (NASDAQ:LCCI) (the "Company"), a leader in
advanced wireless services and solutions, announced today that it
notified The NASDAQ Stock Market ("NASDAQ") on September 5, 2008 of
its decision to voluntarily delist from The NASDAQ Global Market (the
"Exchange").
On August 8, 2008 the Company received a notice from NASDAQ
indicating that the Company failed to comply with the minimum bid
price requirement for continued listing because the bid price of its
Class A Common Stock closed under $1.00 for 30 consecutive business
days. Under the NASDAQ Marketplace Rules, the Company has been
provided 180 calendar days, or until February 4, 2009, to regain
compliance by having the closing bid price of the Company's Class A
Common Stock remaining at or above $1.00 per share for a minimum of 10
consecutive business days no later than February 4, 2009.
Delisting will provide greater flexibility and more options in
acquiring capital financing and the Board of Directors has determined
it is in the Company's best interests to voluntarily delist from the
Exchange. The Company also expects possible cost savings related to
reduced compliance efforts and listing fees.
The Company plans to file a Form 25 with the Securities and
Exchange Commission no sooner than 10 calendar days from September 5,
2008 and the Company expects that the delisting will be effective
after 10 calendar days from such filing. Once the Company's Class A
Common Stock is officially delisted, the Company will pursue having
its Class A Common Stock traded on the Over-the-Counter Bulletin Board
under the same ticker symbol.
About LCC International, Inc.
Celebrating 25 years in the wireless industry, LCC International
(NASDAQ: LCCI) is the recognized leader in providing wireless voice
and data turn-key services to the telecommunications industry. Our
service offering includes network services, business consulting,
tools-based solutions, and training through our world-renowned
Wireless Institute. The Company has worked with all major access
technologies (including UMTS, EV-DO, HSDPA and WiMAX) and has
participated in the success of some of the most sophisticated wireless
systems in the world. LCC is unique in its ability to provide
comprehensive turnkey services to wireless operators around the world.
We bring local knowledge and global capabilities to our customers,
offering innovative solutions, insight into cutting-edge developments
and delivering solutions that increase business efficiencies. News and
additional information are available at www.lcc.com.
Cautionary Note regarding forward-looking statements under the
Private Securities Litigation Reform Act of 1995:
Information in this release regarding LCC's expectations, beliefs,
and intentions are forward-looking statements that involve risks and
uncertainties. All forward-looking statements included in this release
are based upon information available to LCC as of the date of this
release, which may change, and LCC assumes no obligation to update any
such forward-looking statement. These statements are not guarantees.
Factors that could cause or contribute to differences from such
expectations include, but are not limited to risks associated with
international operations, challenges and costs arising from
integration of new operations and other factors that may affect our
business are discussed in LCC's filings with the Securities and
Exchange Commission, including our most recent annual report on Form
10-K and our quarterly reports on Form 10-Q.
LCC International, Inc.
Nancy Feeney, +1 703-873-2077
Area Vice President
nancy_feeney@lcc.com
Copyright Business Wire 2008
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