Psi Technologies Holdings Inc - Report of Foreign Issuer (6-K)
18 September 2008 - 10:32PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACTS OF 1934
FOR THE MONTH OF SEPTEMBER 2008
PSi TECHNOLOGIES HOLDINGS,
INC.
(Exact name of Registrant as specified in its Charter)
NOT APPLICABLE
(Translation of Registrants name into English)
Electronics Avenue
FTI Industrial
Complex
Taguig, Metro Manila 1604, Philippines
(Address of Registrants principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form
20-F
x
Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
No
x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82-
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 18, 2008
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PSi TECHNOLOGIES HOLDINGS, INC.
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By:
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/s/ Arthur J. Young, Jr.
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Arthur J. Young, Jr.
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President and Chief Executive Officer
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PSi TECHNOLOGIES WITHDRAWS REQUEST FOR NASDAQ HEARING
Manila, Philippines September 18, 2008 PSi Technologies Holdings, Inc. (the Company), (NASDAQ: PSIT),
an independent provider of
assembly and test services for the power semiconductor market, announced that today it has withdrawn its request for a hearing before a Nasdaq Hearing Panel concerning its possible delisting from The Nasdaq Capital Market. In this regard, the
Company determined that it was unlikely the Company would be in a position to regain and maintain compliance with requirements for continued listing on the The Nasdaq Capital Market. The Company expects it will be delisted from the Nasdaq Capital
Market within several days.
After delisting from Nasdaq, the Companys outstanding American Depositary Shares (ADSs) are expected to be
quoted, subject to the interest of market makers, in the Pink Sheets. Pink Sheets is a centralized quotation service that collects and publishes market-maker quotes for over-the-counter securities.
About PSi Technologies
PSi Technologies is a focused independent
semiconductor assembly and test service provider to the power semiconductor market. The Company provides comprehensive package design, assembly and test services for power semiconductors used in telecommunications and networking systems, computers
and computer peripherals, consumer electronics, electronic office equipment, automotive systems and industrial products. For more information, visit the Companys website at www.psitechnologies.com or call:
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At PSi Technologies Holdings, Inc.:
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At Financial Relations Board:
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Larry Cajucom
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Lasse Glassen
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(63 2) 838 4489
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(213) 486 6546
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lvcajucomjr@psitechnologies.com.ph
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lglassen@frbir.com
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This press release contains forward-looking statements, as the phrase is defined in
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements relate to the Companys expectation that its ADSs will be available for trading on the Pink Sheets.
While these forward-looking statements represent the Companys current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors,
including, but not limited to, those described under the heading Risk Factors in the Companys most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC), which may be
revised or supplemented in subsequent reports furnished to the SEC. These factors include, but are not limited to, the pace of development and market
acceptance of the Companys products and the power semiconductor market generally, commercialization and technological delays or difficulties, the impact of competitive products and technologies, competitive pricing pressures, manufacturing
risks, the possibility of our products infringing patents and other intellectual property of third parties, product defects, costs of product development, manufacturing and government regulation, risks inherent in emerging markets, including but not
limited to, currency volatility and depreciation, restricted access to financing and political and social unrest and the possibility that the initiatives described herein may not produce the intended results. The Company undertakes no responsibility
to update these forward-looking statements to reflect events or circumstances after the date hereof.
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