Centillium Communications Approved for Listing on The Nasdaq Capital Market

Centillium Communications, a leading provider of highly innovative communications processing technology, today announced that on Aug. 18, 2008, Centillium received notice from the Listing Qualifications Department of The NASDAQ Stock Market, LLC that its application to transfer its common stock to The Nasdaq Capital Market (the "Capital Market") from The Nasdaq Global Market (the "Global Market") was approved. While its common stock traded on the Global Market, Centillium received a deficiency notice from Nasdaq on Feb. 21, 2008, stating that Centillium had a grace period of 180 days, or until Aug. 19, 2008, to cure the deficiency by meeting the $1.00 per share minimum bid price for 10 consecutive trading days. Because Centillium failed to meet the minimum bid price for 10 consecutive days during the grace period, it elected to apply to transfer its common stock to the Capital Market. Upon this transfer, pursuant to the Nasdaq Marketplace Rules, Centillium will receive an additional grace period of 180 calendar days, or until Feb. 17, 2009, to comply with the $1.00 per share minimum bid price rule while on the Capital Market. There can be no assurance that Centillium will achieve compliance with the minimum bid price requirement. Even if Centillium is able to comply with the minimum bid requirement, there is no assurance that in the future Centillium will continue to satisfy other Nasdaq listing requirements, with the result that its common stock may be delisted from the Capital Market. read more

Source: Centillium Communications, Inc.