NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares of Babylon Holdings Limited (the “Company”) — ticker symbol BBLN — from the NYSE. Trading in the Company’s Class A ordinary shares will be suspended immediately.
On June 22, 2023, NYSE Regulation notified the Company of noncompliance with the continued listing standards in Sections 802.01B and 802.01C of the NYSE Listed Company Manual. On June 28, 2023, the Company informed the NYSE and made public disclosure that it did not intend to submit a business plan demonstrating its ability to return to compliance with continued listing standards within 18 months of the notice from the Exchange and did not have an intention to cure the price noncompliance within six months of the notice from the Exchange, as required by Sections 802.02 and 802.01C of the NYSE Listed Company Manual, respectively. NYSE Regulation has determined that the Company is no longer suitable for listing since the Company does not intend to undertake actions to cure its deficiencies and return to compliance with the continued listing standards in Sections 802.01B and 802.01C of the NYSE Listed Company Manual.
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 Class A ordinary shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.