Ann: Noteholder Approval of Further Extension of Agreement, page-48

googly eyes says -
When a company is delisted, its stock no longer trades on one of the major stock exchanges. In a direct sense, nothing happens to a shareholder when delisting occurs. The shareholder still owns the same percentage of the company as before, and he is free to sell the shares to any willing buyer. However, in financial reality, the delisting of a company is usually a huge negative. It often occurs after a company goes bankrupt or as it approaches bankruptcy.