March 4, 2010 (FinancialWire) — Mer Telemanagement Solutions Ltd. (NASDAQ: MTSL) said that a one-for-two reverse split of the company’ stock became effective as of the opening of the market on March 2. The reverse stock split was authorized by the company’s shareholders at a special meeting held on February 25.

According to the company, the reverse stock split is intended to increase the per share trading price of its ordinary shares to satisfy the $1 minimum bid price requirement for continued listing on the NASDAQ Capital Market.

As a result of the reverse stock split, every two ordinary shares of Mer Telemanagement that were issued and outstanding immediately prior to the opening of trading on March 2, were automatically combined into one issued and outstanding share, without any change in the par value of such shares.

Mer Telemanagement’s ordinary shares began trading on a split-adjusted basis when the market opened on March 2, under a new CUSIP number M69676 126. The company’s ordinary shares will trade under the symbol “MTSLD” for 20 days, to designate that it is trading on a post-reverse split basis.

Israel-based Mer Telemanagement Solutions is a provider of solutions for telecommunications expense management used by enterprises, and for business support systems used by information and telecommunication service providers.

MTS markets its solutions through wholly owned subsidiaries in the United States, Hong Kong, The Netherlands, and Brazil, as well as through OEM partnerships with Siemens, Phillips, NEC and other vendors.

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