Image gets extended deadline for NASDAQ
Must meet minimum value requirements to stay listed
By Susanne Ault -- Video Business, 10/20/2008
OCT. 20 | Image Entertainment has secured a reprieve from NASDAQ, as the market is temporarily not enforcing a minimum value for the DVD supplier’s shares in light of currently volatile trading conditions.
The supplier has three months, until Feb. 6, to achieve compliance with the minimum value rule, which requires that Image’s publicly traded shares maintain a value of at least $15 million for 30 consecutive trading days in order for it to be listed with the NASDAQ Global Market.
Image was warned about its possible delisting in August. At that point, the supplier needed to boost share value by Nov. 3.
If Image cannot reach compliance with the listing rule by the new Feb. 6 deadline, Image will receive a delisting notice by NASDAQ. It can appeal the decision or transfer its securities to the NASDAQ Capital Market.
