Telematics Weekly

industry insight, news and interviews paid sponsor: Sancomm, Inc. Free Subscription September 10, 2010

HUGHES Telem­at­ics, Inc. announced today that it had, as antic­i­pated and pre­vi­ously dis­closed in its sup­ple­men­tal proxy, received a delist­ing let­ter from the NYSE Amex on April 2, 2009 indi­cat­ing that the Com­pany was not in com­pli­ance with the pub­lic stock­holder require­ments of Sec­tion 102(a) of the NYSE Amex Com­pany Guide (the “Com­pany Guide”) because the Com­pany has fewer than 400 pub­lic stock­hold­ers. The delist­ing let­ter also indi­cated that the Com­pany was not in com­pli­ance with the infor­ma­tion sub­mis­sion require­ments of Sec­tion 1003(d) of the Com­pany Guide because the Com­pany failed to sub­mit a new list­ing appli­ca­tion for the post-​​merger HUGHES Telem­at­ics and, there­fore, failed to sat­isfy the NYSE Amex’s ini­tial list­ing stan­dards pur­suant to Sec­tion 341, which were applic­a­ble at the time of the con­sum­ma­tion of the merger between HUGHES Telem­at­ics and Polaris Acqui­si­tion Corp. The noti­fi­ca­tion from the NYSE Amex indi­cates that the Com­pany has until April 9, 2009 to appeal the NYSE Amex’s deter­mi­na­tion by request­ing an oral hear­ing or a hear­ing based on a writ­ten sub­mis­sion before the NYSE Amex’s List­ings Qual­i­fi­ca­tions Panel.

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