News & Events zu Enlightify Inc (ENFY)ENFYEnlightify Inc

Enlightify to Withdraw from NYSE Listing

Enlightify announced that it has received notification from the New York Stock Exchange that the NYSE has determined to commence proceedings to delist the company's common stock from the exchange. The NYSE determined that the company was no longer in compliance with the continued listing standard set forth in Section 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain an average global market capitalization average global market capitalization over a consecutive 30 trading day period of at least $15M. The company does not intend to appeal the NYSE's determination. Accordingly, the NYSE is expected to file a Form 25 with the SEC to remove the company's common stock from listing and registration on the NYSE. The delisting will become effective 10 days after the Form 25 is filed. Following the delisting, the company expects that its common stock will be quoted on the OTC Markets Group Inc. under the same ticker symbol.

NYSE Initiates Delisting Process for Enlightify

The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Enlightify from the NYSE. Trading in the company's common stock will be suspended immediately. NYSE Regulation reached its decision to delist the company's common stock pursuant to Section 802.01B of the NYSE's listed company manual because the company had fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15M. The company has a right to a review of this determination by a committee of the board of directors of the exchange. The NYSE will apply to the Securities and Exchange Commission to delist the company's common stock upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff's decision.

Enlightify informs NYSE of plans to address price deficiency

Enlightify has notified the New York Stock Exchange that it intends to cure the price deficiency that resulted from the fact that the 30-trading-day average closing price per share of the company's common stock was below $1.00, which is the minimum average share price required for continued listing under NYSE rules. Under NYSE rules, the company has six months to regain compliance with this continued listing standard and avoid delisting. The company's common stock continues to be listed and traded on the NYSE, subject to the company's compliance with other NYSE continued listing requirements. The NYSE notification does not affect the company's business operations or its Securities and Exchange Commission reporting obligations. The NYSE notification does not conflict with or cause an event of default under any of the company's material debt arrangements or other agreements.