PETACH-TIKVA, ISRAEL – On Jul. 24, Eltek received a notice from Nasdaq advising the fabricator is not in compliance with the exchange’s requirements after the resignation of Lian Goldstein, an independent director.

Eltek must regain compliance prior to the next annual shareholders' meeting or Jul. 20, 2019. If the next shareholders' meeting is held before Jan. 16, the company must provide evidence of compliance no later than that date.

In the event Eltek doesn’t regain compliance by the required date, Nasdaq will provide written notification its securities will be delisted. The company may then appeal the delisting determination to a hearing panel.

"The company is currently searching for a professional candidate to replace Ms. Goldstein, which will be brought for shareholders' approval as soon as practicable," said Yitzhak Nissan, chairman of the board of directors.

Register now for PCB WEST, the leading trade show for the printed circuit design and electronics manufacturing industry! Coming Sept. 11-13 to the Santa Clara Convention Center.

• Prev
• Next