The NYSE American Accepts SatixFy’s Plan to Regain Compliance with Listing Standards

February 08, 2024

SatixFy Communications Ltd. announced that on February 6, 2024, it received written notice from the NYSE American LLC (“NYSE American”) stating that it has reviewed the Company’s January 5, 2024 plan of compliance addressing how it intends to regain compliance with certain NYSE American continued listing standards (the “Plan”) and determined to accept the Plan and grant a plan period for targeted completion of the Plan through May 30, 2025. The Plan is based in part on expected upcoming business progress and technological development, including potential positive announcements it expects to report of new customers and new orders that it believes should evidence that its valuation should be higher. The NYSE American will review the Company periodically for compliance with the initiatives outlined in the Plan.

This follows the prior written notice from the NYSE American, sent on November 30, 2023 stating that the Company is not in compliance with the continued listing standards, as set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide.