MAIN NEWS HEADLINES
May 7 – 14, 2009 Edition
Borders to Stay Listed
On NY Stock Exchange
ANN ARBOR, Mich. (Authorlink News, May 7, 2009)–Borders Group, Inc. will continue to be listed on the New York Stock Exchange after narrowly meeting the NYSE requirements. The company announced May 4 that it had received NYSE confirmation that as of April 30, 2009, the companys 30-day average share price was above $1.00, restoring compliance with the minimum share price for continued listing on the NYSE. In addition, the companys absolute market capitalization continues to be above the NYSEs current minimum standard of $15 million, making Borders Group compliant with all NYSE listing standards.
The company had been advised by the NYSE on Dec. 31, 2008 that its share price was below criteria for the minimum share price standard and that Borders Group had six months to cure the deficiency. In addition, at that time, the NYSE also notified Borders Group that its absolute market capitalization was approaching the then minimum threshold of $25 million over a 30-day trading period.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading retailer of books, music and movies with approximately 25,000 employees. Through its subsidiaries, the company operates 1,000 stores worldwide primarily under the Borders® and Waldenbooks® brand names. For online shopping, visit Borders.com. For more information about the company, visit www.borders.com/investors.
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