NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (\u201cNYSE\u201d, the \u201cExchange\u201d) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American Depositary Shares (\u201cADSs\u201d), each representing seven hundred Class A ordinary shares of SOLAI Limited (the \u201cCompany\u201d) \u2014 ticker symbol SLAI \u2014 from the NYSE. Trading in the Company\u2019s ADSs will be suspended immediately.<\/p>
\nNYSE Regulation reached its decision to delist the Company\u2019s ADSs pursuant to Section 802.01B of the NYSE\u2019s Listed Company Manual because the Company had fallen below the NYSE\u2019s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.<\/p>
\nThe 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 U.S Securities and Exchange Commission to delist the Company\u2019s ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff\u2019s decision.<\/p>
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