FiberCore Faces Delisting
CHARLTON, Mass. --
FiberCore, Inc. (Nasdaq: FBCEE), a leading manufacturer and global supplier of optical fiber and preform for the telecommunications and data communications markets, today announced that the hearing it requested to contest the delisting of its securities from the Nasdaq Smallcap Market was held on May 22, 2003. The Hearing Panel has requested additional information from the Company. It expects to make a determination as to continued listing or delisting after receipt of that information. The delisting action continues to be stayed pending the decision of the panel.
If the Company should eventually be delisted, it would suffer material adverse consequences as set forth in the press release dated April 23, 2003 and no assurances can be given that such delisting will not occur. If the Company should be delisted, the Company will endeavor to facilitate the trading of its stock on the OTC Bulletin Board, but no assurance can be given that such a trading market will be available. FiberCore previously traded on the OTC Bulletin Board before moving to the Nasdaq Smallcap Market in November 2000.