Safe-T Group Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
November 23 2022 - 8:30AM
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the
“Company”), a global provider of cybersecurity and privacy
solutions to consumers and enterprises, today reported the receipt
of a formal notification from The Nasdaq Stock Market LLC
("Nasdaq") that the Company has regained compliance with Listing
Rule 5450(a)(1), which requires the Company's American Depositary
Shares (“ADS”) to maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of
compliance after the closing bid price of the Company's ADSs was at
$1.00 per share or greater for the prior 10 consecutive business
days. Accordingly, the Company has regained compliance with Nasdaq
Listing Rule 5450(a)(1) and Nasdaq considers the prior bid price
deficiency matter now closed.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is
a global provider of cyber-security and privacy solutions to
consumers and enterprises. The Company operates in three distinct
segments: enterprise cyber-security solutions, enterprise privacy
solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for
consumers provide a wide security blanket against ransomware,
viruses, phishing, and other online threats as well as a powerful,
secured, and encrypted connection, masking their online activity
and keeping them safe from hackers. The solutions are designed for
advanced and basic users, ensuring full personal protection for all
personal and digital information.
Our privacy solutions for enterprises are based
on our world’s fastest and most advanced and secured proxy network,
enabling our customers to collect data anonymously at any scale
from any public sources over the web using a unique hybrid network.
Our network comprises both exit points based on our proprietary
reflection technology and hundreds of servers located at our ISP
partners around the world. The infrastructure is optimally designed
to guarantee the privacy, quality, stability, and the speed of the
service.
Our cybersecurity solutions for enterprises,
designed for cloud, on-premises and hybrid networks, mitigates
attacks on enterprises’ business-critical services and sensitive
data, while ensuring uninterrupted business continuity.
Organizational data access, storage and exchange use cases, from
outside the organization or within, are secured according to the
“validate first, access later” philosophy of Safe-T’s zero trust.
Our ZoneZero® solutions are available by our reseller, TerraZone
Ltd., a global information security provider, as a solution or
cloud service.
For more information about Safe-T, visit
www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Safe-T is using
forward-looking statements in this press release when it discusses
maintaining compliance with Nasdaq’s continued listing
requirements. Because such statements deal with future events and
are based on Safe-T’s current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of Safe-T could differ materially from those described
in or implied by the statements in this press release. The
forward-looking statements contained or implied in this press
release are subject to other risks and uncertainties, including
those discussed under the heading “Risk Factors” in Safe-T’s annual
report on Form 20-F filed with the Securities and Exchange
Commission (“SEC”) on March 29, 2022, and in any subsequent filings
with the SEC. Except as otherwise required by law, Safe-T
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty+972-(0)52-3044404investors@safetgroup.com
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