VocalTec Receives Notice from Nasdaq

HERZLIA, Israel --(Business Wire)-- VocalTec Communications Ltd. (Nasdaq Capital Market:VOCL), a global provider of carrier-class multimedia and voice-over-IP solutions for communication service providers, announced today that on July 22, 2008 it received from The Nasdaq Stock Market written notice that, following resignation of Ms. Michal Even-Chen from the company's board of directors, the company is not in compliance with the requirement set forth in Nasdaq's Marketplace Rule 4350 that the audit committee of the company's board of directors have three independent members. The letter also provides that the company may cure such non-compliance either (i) until the earlier of the company's next annual shareholders' meeting or July 3, 2009 or (ii) if the next annual shareholders' meeting is held before January 5, 2009, then... [read full story]