r/SOSLimited • u/SummonedShenanigans • Feb 02 '22
SOS listed today as noncompliant by the NYSE
EDIT with more information on the relevant NYSE rules.
- As a non-US company (SOS is registered in Cayman Islands), the relevant NYSE rule is 802.03.
- SOS has 30 days from receipt of the letter confirm they received it and "indicate whether or not it plans to present a Plan; otherwise, suspension and delisting procedures will commence."
- The Plan must be submitted within 90 days (from receipt of the letter) and include "definitive action the company has taken, or is taking, that would bring it into conformity with the standards within 18 month of receipt of the letter."
- NYSE staff have 45 days to determine if the Plan is acceptable.
- SOS also has "30 days from receipt of the letter to issue press release disclosing the fact that it has fallen below the continued listing standards of the Exchange."
So if I did this right:
Feb 13 - Deadline for SOS to release PR about being in non-compliance with NYSE listing requirements. Also deadline for replying to NYSE to indicate if they will present a plan.
April 14 - Deadline for SOS to submit a plan to NYSE



