Pixelplus Announces Receipt of Staff Determination Letter from Nasdaq

SEOUL, South Korea , July 25 /PRNewswire-FirstCall/ -- 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...


SEOUL, South Korea , July 25 /PRNewswire-FirstCall/ -- 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 a Staff Determination letter from Nasdaq on July 22, 2008 indicating 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), and that its securities are, therefore, subject to delisting from The Nasdaq Global Market.

In response, the Company has submitted a transfer application to The Nasdaq Stock Market's Listing Qualifications Staff ("Staff") to transfer its listing of its American Depository Receipts ("ADRs") from The Nasdaq Global Market to The Nasdaq Capital Market.

Pixelplus will issue a separate announcement once it receives the Staff's decision on the Company's transfer application.

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.

SOURCE Pixelplus Co., Ltd.