Borders Group Meets NYSE Share Price Requirement; Continues Compliance with Market Cap Standard
Borders Group Logo. (PRNewsFoto/ Borders Group, Inc.)
ANN ARBOR, MI UNITED STATES
ANN ARBOR, Mich., May 4 /PRNewswire-FirstCall/ -- Borders Group, Inc. today received notice from the New York Stock Exchange (NYSE) that as of April 30, 2009, the company's 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 company's absolute market capitalization continues to be above the NYSE's 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.
About Borders Group, Inc.
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(R) and Waldenbooks(R) brand names. For online shopping, visit Borders.com. For more information about the company, visit www.borders.com/investors.
