Los Altos, California, United States - February 07, 2007 -- Rambus Inc. (NASDAQ:RMBS) today announced that, on February 6, 2007, The Nasdaq Stock Market, Inc. notified the Company that its common stock will continue to be listed on The NASDAQ Global Select Market pending a stay and a review by the NASDAQ Listing and Hearing Review Council (the “Listing Council”) of an earlier decision of the NASDAQ Listing Qualifications Panel (the “Panel”), dated January 19, 2007.
The Listing Council has requested that the Company make an additional submission for its consideration by March 30, 2007. The Listing Council will then review the matter on the written record. While the Company’s shares will remain listed on NASDAQ pending the completion of the Listing Council’s review, there can be no assurance that the Listing Council will determine that the Company should remain listed on NASDAQ subsequent to such review.
As previously announced, on November 20, 2006, the Panel granted the Company’s request for an extension through February 9, 2007 to allow the Audit Committee of the Company’s Board of Directors sufficient time to complete its internal investigation into the Company’s historical stock option granting practices and related accounting and to allow the Company to thereafter file the Form 10-Qs for the quarters ended June 30, 2006 and September 30, 2006 along with any necessary restated financial statements with the Securities and Exchange Commission. The Company subsequently determined that it would not be in a position to file the financial statements by the Panel’s February 9, 2007 deadline. Because the Panel lacked the discretion under NASDAQ Marketplace Rules to grant a further extension to the Company and due to the Company’s inability to make the requisite filings by the Panel deadline, the Company’s securities were subject to delisting from NASDAQ effective February 12, 2007. The Listing Council’s determination yesterday stays the Panel’s decision.
About Rambus Inc.
Rambus is one of the world's premier technology licensing companies specializing in the invention and design of high-speed chip interfaces. Since its founding in 1990, the Company's patented innovations, breakthrough technologies and renowned integration expertise have helped industry-leading chip and system companies bring superior products to market. Rambus' technology and products solve customers' most complex chip and system-level interface challenges enabling unprecedented performance in computing, communications and consumer electronics applications. Rambus licenses both its world-class patent portfolio as well as its family of leadership and industry-standard interface products. Headquartered in Los Altos, California, Rambus has regional offices in North Carolina, India, Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.