PETACH-TIKVA, Israel, August 27, 2015 /PRNewswire/ --
Eltek Ltd (NASDAQ: ELTK), announced today that on August 26, 2015, it received a notice from the Listing Qualifications Department of Nasdaq advising the Company that for at least 10 consecutive trading days, the closing bid price of the Company's stock had been $1 per share or greater. Accordingly, the Company regained compliance with Listing Rule 5550(a)(2), and the matter is now closed.
Mr. Yitzhak Nissan, Chairman of the Board and Chief Executive Officer, said: "I am pleased that our efforts to improve our operating results were well received by the market as reflected in the Company's share price."
Eltek is Israel's leading manufacturer of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI, multilayered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. For more information, visit Eltek's web site at http://www.nisteceltek.com.
Forward Looking Statement:
Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to statements regarding expected results in future quarters, risks in product and technology development and rapid technological change, product demand, the impact of competitive products and pricing, market acceptance, the sales cycle, changing economic conditions and other risk factors detailed in the Company's Annual Report on Form 20-F and other filings with the United States Securities and Exchange Commission.
Chief Financial Officer
SOURCE Eltek Ltd.