Dallas – Debt-laden video rental giant Blockbuster announced
this week that its shares will be delisted from the New York Stock Exchange,
after the company failed to receive enough shareholder votes to move forward
with plans to regain compliance with exchange requirements.
In November 2009,
the NYSE said Blockbuster was in danger of being delisted because its share
price dipped below the $1 minimum over a 30-day period.
Blockbuster said that
shareholders at its annual meeting last week did not vote in great enough
numbers to create a majority that would have passed its reverse stock split
proposal — aimed at boosting its share price and regaining NYSE compliance.