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The notification letter states that Veraz will be afforded 180 calendar days, or until March 15, 2010, to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of the Veraz's common stock must meet or exceed $1.00 per share for at least ten consecutive business days. If Veraz demonstrates an ability to maintain long term compliance, NASDAQ will provide written confirmation of compliance and the matter will be closed.
If Veraz does not regain compliance by March 15, 2010, Nasdaq will provide written notification to Veraz that it's common stock may be delisted. At that time, Veraz may appeal Nasdaq's delisting determination to a Nasdaq Listing Qualifications Panel.
Veraz intends to actively monitor the bid price for its common stock between now and March 15, 2010, and will consider available options to regain compliance with the Nasdaq minimum closing bid price requirement.
About Veraz Networks
Veraz Networks, Inc. (NASDAQ: VRAZ | Quote | Chart | News | PowerRating) is the leading provider of application, control, and bandwidth optimization products that enable the evolution to the Multimedia Generation Network (MGN). Veraz Networks makes it possible for fixed and mobile service providers to create, manage and transport application sessions cost-effectively and securely across TDM and IP networks. Service providers worldwide use the Veraz MGN portfolio to extend their existing legacy applications to new all-IP based networks, rapidly add customized services that drive revenue, and lower the cost of session transport. The Veraz MGN architecture separates the control, media, and application layers while unifying management of the network, enabling any application to run over any network while optimizing session control and transport. Wireline and wireless service providers in more than 60 countries have deployed products from the Veraz MGN portfolio, which includes the ControlSwitch(TM), Network-adaptive Border Controller, I-Gate 4000 Media Gateways, I-Gate 4000 Session Bandwidth Optimizer, I-Gate 4000 SIP Gateway, VerazView Management System, and a set of prepackaged applications. For more information please visit www.veraznetworks.com.
SOURCE: Veraz Networks, Inc.
Investor Relations: MBS Value Partners Ron Vidal, 212-750-5800 ron.vidal@mbsvalue.com or Press: Veraz Networks, Inc. Dawn Hogh, 408-750-9533 dhogh@veraznet.com or Vantage Communications Ilene Adler, 415-984-1970 ext 102 iadler@pr-vantage.com
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