Pixelplus CO., Ltd. - Report of Foreign Issuer (6-K)
June 24 2008 - 6:07AM
Edgar (US Regulatory)
FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF
FOREIGN PRIVATE ISSUER
Pursuant to Section 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the date of June 24, 2008
000-51643
(Commission File Number)
PIXELPLUS CO., LTD.
(Translation of registrants name into English)
6th Floor, Gyeonggi R&DB Center
906-5 Iui-dong, Yeongtong-gu, Suwon-si
Gyeonggi-do, 443-766, The Republic of Korea
(Address of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form
20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by regulation S-T Rule 101(b)(1); |_|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by regulation S-T Rule 101(b)(7); |_|
Indicate by check mark whether by furnishing the information contained on this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |X|
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82-
.
EXHIBIT INDEX
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Exhibit
Number
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Description
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99.1
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Press release dated June 23, 2008 announcing Pixelplus receipt of equity deficiency notification letter from Nasdaq
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Exhibit 99.1
Pixelplus Announces Receipt of Equity Deficiency Notification Letter from Nasdaq
Press Release
SEOUL, South Korea, June 23, 2008 Pixelplus Co., Ltd. (NASDAQ: PXPL), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image
sensors for various consumer electronics applications, today announced that the Company received an equity deficiency notification letter from Nasdaq on June 20, 2008 stating that the Company is failing to comply with the minimum $10,000,000
stockholders equity requirement for continued listing on The Nasdaq Global Market under Marketplace Rule 4450(a)(3).
The Company intends to furnish
Nasdaq with a plan that will entail specific measures to achieve and sustain compliance with all Nasdaq Global Market listing requirements, including the minimum stockholders equity requirement, on or before July 7, 2008. However, there
can be no assurance that Nasdaq will find such plan sufficient, and it may determine that the Companys plan to meet the Global Market listing requirements is insufficient. If Nasdaq determines that the Company has not presented a definitive
plan to achieve compliance in the short term and sustain compliance in the long term, the Company may be required to delist its ADSs or transfer the listing of its ADSs to The Nasdaq Capital Market.
About Pixelplus Co., Ltd.
Pixelplus is a South Korea-based developer of
high-performance, high-resolution, and cost-effective CMOS image sensors for use primarily in mobile camera phones. In addition to mobile phones, Pixelplus provides CMOS image sensors and SoC solutions for use in webcams and notebook embedded
cameras, toys and games, and security and surveillance systems applications.
As a fabless semiconductor company, Pixelplus is focused on creating
proprietary design technologies to develop CMOS image sensors with sharp, colorful and enhanced image quality, size efficiency, and low power consumption.
Contact:
Shane Y. Hong
Pixelplus Co., Ltd.
6th Floor, Gyeonggi R&DB Center
906-5 Iui-dong,
Yeongtong-gu, Suwon-si
Gyeonggi-do, 443-766, Republic of Korea
+82-31-888-5300
OR
Taylor Rafferty:
London Emilia Whitbread at +44 (0) 20 7614 2900
New York
Jessica McCormick at +1 212 889 4350
Tokyo Jason Wagers at +81 (0) 3 3221 9513
Email
pixelplus@taylor-rafferty.com
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Pixelplus Co., Ltd.
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By:
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/s/ Hoang Taig Choi
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Name:
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Hoang Taig Choi
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Title:
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Chief Financial Officer
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June 24, 2008
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