Trading of Zarlink Semiconductor Common Shares Will Be Suspended from the New York Stock Exchange

OTTAWA, CANADA -- (MARKET WIRE) -- Jul 22, 2008 -- Zarlink Semiconductor Inc. (TSX: ZL)(NYSE: ZL) today announced that it has been advised by the New York Stock Exchange Regulation, Inc. (NYSE Regulation) that trading of the common shares of Zarlink Semiconductor Inc., ticker symbol ZL, on the New York Stock Exchange (NYSE) will be suspended prior to the opening on Tuesday, July 29, 2008.

Zarlink has advised the NYSE that its common shares will continue to be traded on the Toronto Stock Exchange (TSX), where such shares have been listed since August 13, 1979. The TSX represents in excess of 75 percent of the Company's total daily trading volume.

The decision was reached in view of the fact that the Company has fallen below the NYSE's continued listing standard regarding average share price over a consecutive 30 trading-day period of not less than US$1.00. The Company effected an action plan to address non-compliance with NYSE's continued listing standards. However, after the elapsing of the prescribed time the continued listing standard was not met and the NYSE decided to proceed with suspension and delisting.

"The technology advances in equities trading mitigates the requirement for Zarlink to continue to be listed on multiple exchanges," said Kirk Mandy, President and CEO, Zarlink Semiconductor. "This decision will not impact the financial status of Zarlink or affect the way it conducts its business."

Application to the U.S. Securities and Exchange Commission to delist the issue from the NYSE is pending the completion of applicable procedures. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

About Zarlink Semiconductor

For over 30 years, Zarlink Semiconductor has delivered semiconductor solutions that drive the capabilities of voice, enterprise, broadband and wireless communications. The Company's success is built on its technology strengths including voice and data networks, optoelectronics and ultra low-power communications. For more information, visit www.zarlink.com.

Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions include, among others, the following: our dependence on the successful development and market introduction of new products; our dependence on revenue generation from our legacy products in order to fund development of our new products; our ability to successfully integrate Legerity and any businesses acquired in the future; any potential undisclosed liabilities associated with the Legerity acquisition; our ability to operate profitably and generate positive cash flows in the future; our dependence on our foundry suppliers and third-party subcontractors; order cancellations and deferrals by our customers; and other factors referenced in our Annual Report on Form 20-F. Investors are encouraged to consider the risks detailed in this filing.

Contacts:
Zarlink Semiconductor
Ed Goffin
613-270-7112

Email Contact

NYSE Regulation, Inc.
Leslie Tepper
Financial Compliance
212-656-5936

Email Contact





Review Article Be the first to review this article

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
H-1B Visa: de Geus’ tragedy looms large
Peggy AycinenaIP Showcase
by Peggy Aycinena
IP for Cars: Lawsuits are like Sandstorms
More Editorial  
Jobs
Technical Support Engineer for EDA Careers at Freemont, CA
Lead Java Platform Engineer IOT-WEB for EDA Careers at San Francisco Area, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Mechanical Designer/Engineer for Palo Alto Networks at Santa Clara, CA
ASIC/FPGA Design Engineer for Palo Alto Networks at Santa Clara, CA
CAD/CAM Regional Account Manager (Pacific Northwest) for Vero Software Inc. at Seattle, WA
Upcoming Events
Embedded Systems Conference ESC Boston 2017 at Boston Convention & Exhibition Center Boston MA - May 3 - 4, 2017
2017 GPU Tech Conference at San Jose McEnery Convention Center 150 West San Carlos Street San Jose CA - May 8 - 11, 2017
High Speed Digital Design and PCB Layout at 13727 460 Ct SE North Bend WA - May 9 - 11, 2017
Nanotech 2017 Conference & Expo at Gaylord National Hotel & Convention Center WA - May 14 - 17, 2017
DAC2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy