An anonymous director reports
DHX MEDIA (DBA WILDBRAIN) ANNOUNCES INTENTION TO VOLUNTARILY DELIST FROM NASDAQ
DHX Media Ltd. (doing business as WildBrain) has notified the Nasdaq Stock Market LLC of its intention to voluntarily delist its common voting shares and variable voting shares from Nasdaq. WildBrain's shares will continue to trade on the Toronto Stock Exchange.
With the majority of its shares trading on the TSX, WildBrain believes the costs and administrative requirements associated with maintaining a dual listing are not justified at this time. The decision to delist from Nasdaq is consistent with the company's previously announced cost-saving efforts with a portion of these savings to be redeployed for investing in growth areas of the business.
WildBrain plans to file a Form 25 with the Securities Exchange Commissions and expects that its shares will cease trading on the Nasdaq on or about Dec. 24, 2019. Following its delisting from Nasdaq, the company intends to voluntarily deregister its shares in the United States and cease its public reporting obligations with the SEC. The company's Form 40-F for the fiscal year ended June 30, 2019, is expected to be its last publicly filed report with the SEC. WildBrain's financial statements, press releases and other information will continue to be available on SEDAR and on its website.
(DHX Media Ltd.)
At WildBrain the company makes great content for kids and families. With over 13,000 half-hours of filmed entertainment in the company's library -- one of the world's most extensive -- the company is home to such brands as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget and Degrassi. Its shows are seen in more than 150 countries on over 500 telecasters and streaming platforms.
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