PETACH-TIKVA, ISRAEL -- Eltek announced receipt of a notice from Nasdaq extending its deadline for compliance with the stock exchange's listing requirements.

Nasdaq's Listing Qualifications Department advised the company that it is eligible for an additional 180 calendar days to regain compliance with the minimum $1.00 per share requirement for continued listing. Should Eltek not regain compliance by Dec. 26, it could be delisted from the exchange.

If at any time during this 180 day period, the closing bid price of the company's security is at least $1.00 for a minimum of ten consecutive business days, the company will regain compliance.

Eltek provided Nasdaq with written notice of its intention to cure the deficiency by effecting a reverse stock split, if necessary. If the company chooses a reverse split, the split must be completed no later than 10 business days prior to the expiration extension period.

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