InfoVista Announces Voluntary Delisting From NASDAQ
February 09 2007 - 2:00AM
PR Newswire (US)
PARIS, France and HERNDON, Virginia, February 9
/PRNewswire-FirstCall/ -- InfoVista (Euronext: IFV, ISIN:
FR0004031649, NASDAQ: IVTA), the leading service-centric
performance management software company, today announced that it
will voluntarily delist its American Depositary Shares ("ADSs")
from the NASDAQ Global Market ("NASDAQ") with trading in the ADSs
to be terminated as of the close of trading on February 20, 2007.
The Company's decision to delist from NASDAQ is based on the low
trading volume of its ADSs and the increasingly high cost of
maintaining dual listings on NASDAQ and the Paris Euronext
("Euronext") stock markets. At year end 2006, the total number of
ADSs in issuance accounted for less than 1% of InfoVista's share
capital. Over the past twelve months, the daily trading volume on
NASDAQ averaged approximately 1% of total daily trading volume in
InfoVista shares. InfoVista's Founder and Chairman of the Board,
Mr. Alain Tingaud said: "It is with a certain sadness that we have
reached this decision, as our NASDAQ listing has played a key role
when we took our first steps as a public company. But circumstances
have changed in the past six years, and today the cost of
maintaining two listings and multi-jurisdictional filings far
outweighs any benefits." Mr. Tingaud added, "This decision does not
reflect any change in InfoVista's commitment to its operations,
customers or strategic development in the US. And obviously, this
decision will not impact our longstanding commitment to
international standards of corporate governance, financial
accounting and investor relations." InfoVista has also decided to
terminate its ADS facility with the Bank of New York, and will
instruct the Bank of New York to notify its ADS holders. InfoVista
will maintain its listing on the Paris Euronext stock market and
reiterates its commitment to provide investors with timely
information regarding significant business and financial
developments. The Company will continue to host all its regular
investor relations activities, including quarterly earnings press
releases, earnings calls, analyst meetings and roadshows. About
InfoVista InfoVista is the Service-Centric Performance Management
Software Company that assures the optimal delivery of
business-critical IT services. Driven by a uniquely adaptive and
real-time technology foundation, InfoVista solutions improve
business effectiveness, reduce operating risk, lower cost of
operations, increase agility and create competitive advantage.
Eighty percent of the world's largest service providers as ranked
by Fortune(R), as well as leading Global 2000 enterprises, rely on
InfoVista to enhance the business value of their technology assets.
Representative customers include ABN AMRO, Allstream, Banques
Populaires, AXA, Banque de France, Bell Canada, British Telecom,
Broadwing Communications, Cable & Wireless, Com Hem, Defense
Information Systems Agency (DISA), Deloitte & Touche, Deutsche
Telecom, France Telecom, Savvis Corporation, SingTel, Telefonica,
and US Cellular. A Software Magazine 500 company, InfoVista stock
is traded on the NASDAQ (IVTA) and on Eurolist by Euronext
(FR0004031649). For more information about the company, please
visit http://www.infovista.com/. InfoVista is a registered
trademark of InfoVista, S.A. DATASOURCE: Infovista CONTACT:
Contact: Karena D'Arcy, Investor Relations Manager, InfoVista,
+33-1-64-86-85-65, or Kirsten Molyneux, Gavin Anderson &
Company, +44-(0)207-554-1400,
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