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Source Interlink gets delisting notice


Published : Fri, 02 Feb 2007 23:32
By : Agencies
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BONITA SPRINGS, Fla. (AFX) - Source Interlink Cos., which provides home entertainment products and marketing services, on Friday said its delay in holding an annual shareholder meeting could cause the Nasdaq to delist its stock.

In December, the company announced it would delay the annual meeting, originally scheduled for Jan. 29.

Source Interlink said a shareholder proposed the company pay a one-time dividend of $5. The board decided to omit the proposal from the company's proxy statement, but Source Interlink said it needed more time to consult with the Securities and Exchange Commission about the issue.

Source Interlink has since rescheduled the meeting for March 22, and plans to appeal the Nasdaq decision.

Shares of Source Interlink gained 2 cents to close at $7.36 on the Nasdaq.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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