Image Given Extra Time to Boost Stock Price

A decision by the NASDAQ stock market to stop enforcing minimum market value requirements will give Image Entertainment Inc. an extra three months to increase the value of common shares. NASDAQ made its decision due to the volatility of current market conditions and will resume enforcement of the requirement in January. Chatsworth-based Image, a producer and distributor of home entertainment programming, had been given a Nov. 3 deadline to boost its share price but with the action by NASDAQ that deadline has been extended to Feb. 6. In August, Image received a letter indicating its shares failed to meet NASDAQ rules by not meeting a minimum value of $15 million. Image will have to maintain a stock price of $1.22 or higher for 10 consecutive trading days to meet the rule. Image shares continue to be traded on the NASDAQ Global Market.