Daleen requests NASDAQ Hearing ---
BOCA RATON, Fla., May 22, 2002 (BUSINESS WIRE) -- Daleen Technologies, Inc. (DALN, Trade), a global provider of high performance billing and customer care software solutions that manage the revenue chain, today announced that on May 16, 2002, it received a Nasdaq Staff Determination that the company has not met the minimum bid price requirement set forth in Marketplace Rule 4450(a)(5) for continued listing on The Nasdaq National Market, and that it anticipates receiving a similar Nasdaq Staff Determination this week that it has not met the minimum market value of publicly held shares requirement set forth in Marketplace Rule 4450(a)(2). As a result of each of these determinations, the company's common stock is subject to delisting from The Nasdaq National Market. The company intends to request a hearing before the Nasdaq Listing Qualifications Panel to review the Nasdaq Staff's determinations. At the hearing, the company will be given the opportunity to provide the Panel with arguments in support of its continued listing. However, there can be no assurance that the Panel will grant the company's request for continued listing. If the appeal is not granted, or if the company decides for business reasons not to seek the appeal, the company's common stock will be delisted from The Nasdaq National Market. In that event, the company plans to apply to list its common stock on The Nasdaq SmallCap Market. The date for the hearing has not yet been established. The company has been advised by Nasdaq that its common stock will continue to be listed on The Nasdaq National Market pending the outcome of the hearing.
Daleen Technologies, Inc. is a global provider of high performance billing and customer care software solutions that manage the revenue chain for traditional and next-generation communication service providers, retailers and distributors of digital media, and technology solutions providers. Offering proven integration with leading CRM and other legacy enterprise systems, Daleen's RevChain(TM) software and pure Internet Integration Architecture (IIA(TM)) leverage open Internet technologies to enable providers to achieve peak operational efficiency while driving maximum revenue from their product and service offerings. The company is currently ranked No. 1 worldwide in overall customer satisfaction based on timeliness of delivery, functionality, delivery within budget, vendor support and maintenance, system flexibility and interoperability.(a) Additional information is available at daleen.com.
Daleen, IIA and RevChain are registered trademarks or trademarks of Daleen Technologies Inc. in the United States and other countries. All other trademarks and registered trademarks are property of their respective owners.
(a) See the independent report issued by Chorleywood Consulting titled "Global Trends and Market Forecasts in Telecoms BCC 2001."
CONTACT: Daleen Technologies, Inc., Boca Raton Teresa M. Gyulafia, 561/981-2119 tgyulafia@daleen.com |
