July 6, 2011
Petaluma, Calif., July 6, 2011 – Tegal Corporation (Nasdaq:TGALD) announced today that it had received confirmation from the Nasdaq Stock Market that for the 10 consecutive business days from June 17, 2011 to June 30, 2011 the closing bid price of the Company's common stock had been at $1.00 per share or greater, and that Company has regained compliance with Listing Rule 5550(a)(2). On June 15, 2011, the Company had effected a 1-for-5 reverse stock split to increase the per-share market price of its common stock in order to regain compliance with the Nasdaq Capital Market's minimum bid price requirement. The reverse stock split resulted in the Company's trading symbol being temporarily changed to TGALD, but the trading symbol will return to the normal TGAL at the open of the market on July 18, 2011.
About Tegal
Since its founding in 1972, Tegal Corporation has been dedicated to the development and application of emerging technologies. Often on the forefront of major inventions, Tegal's process and capital equipment know-how enabled the development and manufacturing of leading-edge devices – from early microprocessors to advanced memory and LEDs, as well as to newest filtering and sensing devices that are present in the most advanced smart phones. Most recently, in response to a challenging industry and financial environment, Tegal has set a new course to develop and support multiple efforts in the field of renewable energy and other diversified technologies. Through its recent investment in sequel Power, Tegal is engaged in the promotion of solar power plant development projects worldwide and other renewable energy projects. In addition, Tegal is actively evaluating opportunities for partnerships with other diversified technology-based companies in order to exploit our shared experience and to enhance our value as a public company. Tegal is headquartered in Petaluma, California. Please visit us on the web at www.Tegal.com.
Contact:
Tegal Corporation
Christine Hergenrother (Vice President & CFO), 707/763-5600
