RA'ANANA, Israel and
POWDER SPRINGS, Georgia,
July 3, 2019 /PRNewswire/
-- Mer Telemanagement Solutions Ltd. (MTS) (Nasdaq
Capital Market: MTSL), a global provider of telecommunications
expense management (TEM) and enterprise mobility management (EMM)
solutions, announced today that on July
1, 2019, the Company was formally notified by The Nasdaq
Stock Market LLC ("Nasdaq") that the Company has evidenced full
compliance with all criteria for continued listing on The Nasdaq
Capital Market, including the applicable stockholders' equity
requirement. Nasdaq's determination follows the previously
disclosed investment by an institutional investor via the partial
exercise of its green shoe option and purchase of 438,597
convertible preferred shares in MTS for $500,000.
The Nasdaq Hearings Panel will continue to monitor the Company's
ongoing compliance with the minimum stockholders' equity threshold,
through July 1, 2020, and, if the
Company were to fall below the minimum threshold, the Company would
be subject to delisting, but would also be entitled to request
another hearing before the Panel. Such request would stay any
delisting action by Nasdaq pending the ultimate outcome of the
hearing.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is focused on innovative
products and services for enterprises in the area of telecom
expense management (TEM) and call accounting. Headquartered in
Israel, MTS markets its solutions
through wholly-owned subsidiaries in Israel, the U.S and Hong Kong, as well as through distribution
channels. For more information please visit the MTS web site:
www.mtsint.com.
Contact:
Ofira
Bar
CFO
Tel:
+972-9-7777-540
Email: ofira.bar@mtsint.com
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SOURCE Mer Telemanagement Solutions Ltd. (MTS)