Wednesday August 29, 4:21 pm Eastern Time
Press Release
SOURCE: AremisSoft Corporation
AremisSoft Receives Delisting Notice from NASDAQ
NEW YORK--(BUSINESS WIRE)--Aug. 29, 2001--AremisSoft Corporation (Nasdaq:AREME - news), a leading international supplier of enterprise-wide software and Internet-enabled solutions for the manufacturing, hospitality, healthcare and construction industries, announced today that it has received notice from the NASDAQ stock market that it will be delisted from the NASDAQ stock market on August 30, 2001 for failure to timely file its Form 10Q for the second quarter ended June 30, 2001, among other things.
The Company is actively compiling the requisite information to be in a position to file its Form 10Q for the second quarter ended June 30, 2001. After the Company resumes compliance with its obligations under the Securities Exchange Act of 1934 among other things, it intends to apply for relisting on the NASDAQ stock market or another exchange.
Management is focusing particular attention on its Emerging Market business in order to define the nature and scope of any problems that may exist in that segment of the business and is comfortable with current operations in the ``Western World'', including its Hospitality, Manufacturing and Construction businesses. In addition, AremisSoft continues to invest in its Healthcare operations and solutions for Emerging Markets including Bulgaria.
About AremisSoft Corporation
AremisSoft develops, markets, implements and supports enterprise-wide applications software targeted at mid-sized organizations in the manufacturing, healthcare, hospitality and construction industries. The Company's software products help streamline and enhance an organization's ability to manage and execute mission-critical functions such as accounting, purchasing, manufacturing, customer service and sales and marketing. For more information on AremisSoft access our website, www.aremissoft.com.
Cautionary Statement for Purposes of the ``Safe Harbor'' Provisions of the Private Securities Litigation Reform Act of 1995: All statements, other than historical facts, included in the foregoing press release regarding the Company's financial position, business strategy, and plans of management for future operations are ``forward looking statements.'' These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward looking statements include, but are not limited to, statements in which words such as ``expect,'' ``see,'' ``anticipate,'' ``intend,'' ``plan,'' ``believe,'' ``estimate,'' ``consider,'' or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including risks discussed under ``Risk Factors'' in the Company's annual report on Form 10-K, SEC File No. 0-25713, all of which are incorporated herein by reference. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward looking statement. The Company undertakes no obligation to publicly update these forward looking statements, whether as a result of new information, future events or otherwise.
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Contact:
AremisSoft Corporation
Paul Bloom, 856/869-0770
paul.bloom@aremissoft.com
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