Eltek Receives Non-Compliance Notice from Nasdaq


Reading time ( words)

Eltek Ltd. announced that on October 2, 2018, it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that as of October 1, 2018, the company did not maintain stockholders' equity of $2.5 million, nor does it meet the alternatives of market value of listed securities or net income from continuing operations, and therefore is not in compliance with the applicable listing rule.

Eltek has 45 calendar days, until November 16, 2018, to submit a plan to regain compliance. If the plan is accepted, the Listing Qualifications Department of Nasdaq can grant an extension of up to 180 calendar days from October 2, 2018, to allow the Company to evidence compliance.

"We are evaluating certain alternatives to regain compliance and intend to submit a plan prior to the November 16, 2018 deadline," said Eli Yaffe, chief executive office.

About Eltek 

Eltek - "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), and is the Israeli leader in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.

Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiaries in North America and in Europe and by agents and distributors in Europe, India, South Africa and South America.

Share


Suggested Items

Sunshine Global Circuits Discusses its Rapid, Targeted Growth

10/09/2018 | Stephen Las Marias, I-Connect007
In an interview with I-Connect007, Jimmy Fang, VP of business development at Sunshine Global PCB Group, speaks about the key demand drivers for the PCB industry, the challenges in the market, and the opportunities they are seeing.

Ventec Keeps 'Shaking Things Up' with tec-speed 20.0

09/10/2018 | Barry Matties, I-Connect007
At the EIPC summer conference, I-Connect007 Publisher Barry Matties caught up with Ventec Europe & Americas COO Mark Goodwin, who provided an update on Ventec’s new products, the current state of the company, and how Ventec is shaking things up in the materials marketplace.

Atotech on Challenges and Opportunities in PCB Manufacturing

09/04/2018 | Stephen Las Marias, I-Connect007
Abel Ruivo, Atotech Deputy Business Director of Electronics for Greater China, and Daniel Schmidt, head of Global Marketing for Electronics at Atotech Group, spoke with I-Connect007 about the various challenges of PCB manufacturing in China, as well as about the opportunities in the sector.



Copyright © 2018 I-Connect007. All rights reserved.