Tuesday, June 26, 2007
Fort Worth-based Bombay Company to be de-listed on the New York Stock Exchange
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FORT WORTH — The Bombay Company, Inc. (NYSE:BBA) announced today that it has been notified by the New York Stock Exchange that the NYSE intends to suspend Bombay's common stock prior to the opening on June 28, 2007, and that the NYSE will thereafter initiate delisting procedures. The action is being taken in view of the fact that the company did not meet the New York Stock Exchange continued listing standard regarding the average closing price of its common stock of not less than $1.00 over a consecutive 30 trading day period, as well as the requirement for average global market capitalization over a consecutive 30 trading day period of not less than $75 million and stockholders' equity of not less than $75 million.
Photo not provided by Bombay Company
The bottom seems to have dropped out of Bombay
The company expects to continue to be actively traded and has taken steps to arrange for its common stock to be quoted on the OTC Bulletin Board. Although electronic trading on the NYSE of the company's common stock ceased in April 2007, trading has been active since that time on secondary markets. Bombay will continue to make all required SEC filings and disclosures and will continue to communicate with its shareholders as a public company.
The Bombay Company, Inc. designs, sources and markets a unique line of home accessories, wall decor and furniture through 405 retail outlets and over the Internet in the U.S. and internationally.
Source: Bombay Company
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