Peace Arch shares plunge s NYSE Amex serves delistng notification

Shares of Peace Arch Entertainment Group Inc. (PAE) plunged after the announcement that it had received delisting notification from NYSE Amex LLC. The film and TV content distributor is looking at alternative options, but said it does not intend to appeal the decision. The date of delisting is September 30, 2009.

The Amex delisting notification is based on Peach Arch not filling its annual report for the year ended August 31, 2008 with the Securities and Exchange Commission and on the reduced market capitalization. It is also based Peach Arch’s inability to complete a reverse stock split that Amex deemed appropriate.

Share of Peach Arch fell 23 percent since opening and were trading at $0.10 around 2:20 PM ET.