DGAP-News: Identive Group Inc.: Identive Receives NASDAQ Notification Relating to Minimum Bid Requirement
(firmenpresse) - DGAP-News: Identive Group Inc. / Key word(s): Statement
Identive Group Inc.: Identive Receives NASDAQ Notification Relating to
Minimum Bid Requirement
14.06.2013 / 14:00
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Identive Receives NASDAQ Notification Relating to Minimum Bid Requirement
SANTA ANA, Calif. and ISMANING, Germany, June 14, 2013 - Identive Group,
Inc. (NASDAQ: INVE) (Frankfurt: INV), a provider of products and services
for the identification, security and RFID industries, announced it received
on June 11, 2013 notice from The NASDAQ Stock Market that the bid price of
its common stock has closed below $1.00 for the last 30 consecutive
business days and, therefore, is not in compliance with the minimum bid
price requirement for continued inclusion on The NASDAQ Global Market. The
notification letter has no immediate effect on the listing of the company's
shares on The NASDAQ Global Market. Under NASDAQ rules, the company has a
period of 180 calendar days to regain compliance.
'Identive has made significant investments to build and leverage a
foundation of security and contactless communication technologies that
enable us to address a broad range of secure identification markets,'
stated Ayman S. Ashour, chairman and chief executive officer of Identive.
'Recent important wins in emerging, high-growth markets such as near field
communication (NFC), cashless payment and SaaS / cloud-based identity
management reflect the growing momentum of our strategy. Also, in the last
few months, we successfully secured additional financing to support our
working capital growth. We remain focused on improving our market reach and
operational performance and on creating long-term shareholder value as we
work to regain NASDAQ listing compliance.'
To regain compliance with the minimum bid price requirement, the bid price
of Identive common stock must close at $1.00 per share or more for a
minimum of 10 consecutive business days during the 180-day grace period.
About Identive
Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV) is focused on building
the world's signature company in Secure ID. The company's products,
software, systems and services address the markets for identity management,
physical and logical access control, cashless payment, NFC solutions and a
host of RFID-enabled applications for customers in the government,
enterprise, consumer, education and healthcare sectors. Identive's mission
is to build a lasting business of scale and technology based on a
combination of strong technology-driven organic growth and disciplined
acquisitive expansion. The company delivers up-to-date information on its
activity as well as industry trends through its industry-leading social
media initiatives and educational resource, AskIdentive.com. For additional
information, please visit www.identive-group.com or follow on Twitter at
(at)IdentiveGroup.
Note: Identive and the Identive logo are trademarks of Identive Group, Inc,
registered in many jurisdictions worldwide. All other company, product or
service names may be trademarks or registered trademarks of others and are
the property of their respective owners.
###
Note Regarding Forward Looking Information:
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section21E
of the Securities Exchange Act of 1934, as amended. Forward-looking
statements can be identified by words such as 'anticipates,' 'believes,'
'plans,' 'will,' 'intends,' 'expects,' and similar references to the future
and include statements regarding our expectation of regaining compliance
with the minimum bid requirement for continued listing on The NASDAQ Global
Market, the growing momentum of our strategy, and improving performance and
creating long-term shareholder value. Forward-looking statements are not a
guarantee of future performance and are subject to a number of risks and
uncertainties, many of which are outside our control, that could cause our
actual results to differ. Factors that could cause actual results to differ
materially from those in the forward-looking statements include our ability
to grow our company based on a strategy of providing products, systems and
services for the secure identification market; our ability to successfully
develop and commercialize new products and solutions that satisfy the
evolving and increasingly complex requirements of customers; whether the
markets in which we participate or target may grow, converge or standardize
at anticipated rates or at all, including the markets that we are
targeting; our ability to successfully compete in the markets in which we
participate or target; our ability to meet our sales forecasts; our ability
to meet financial covenants of our loan agreement; our ability to meet
growing demand for our products; and general global political and economic
factors which are beyond our control but may unduly impact our markets and
our business. For a discussion of further risks and uncertainties related
to our business, please refer to our public company reports, including our
Annual Report on Form 10-K for the year ended December 31, 2012 and
subsequent reports filed with the U.S. Securities and Exchange Commission.
All forward-looking statements are based on information available to us on
the date hereof, and we assume no obligation to update such statements.
Contacts:
Darby Dye, +1 949 553-4251, ddye(at)identive-group.com
Lennart Streibel, +49 89 9595-5195, lstreibel(at)identive-group.com
End of Corporate News
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Language: English
Company: Identive Group Inc.
1900B Carnegie Avenue
CA 92705 Santa Ana
United States
Phone: +49 (0)89 9595 5000
Fax: +49 (0)89 9595 5555
E-mail: info(at)identive-group.com
Internet: www.identive-group.com
ISIN: US45170X1063
WKN: A1C0ZG
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Frankfurt in Open Market (Entry Standard)
End of News DGAP News-Service
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216416 14.06.2013
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