HALIFAX, Jan. 30, 2012 /CNW/ - DHX Media Ltd (TSX: DHX), a leading independent international producer and distributor of television programming and interactive content, is pleased to announce that it has resumed its automatic share purchase plan which it had previously suspended in order to facilitate repurchases of its common shares during company imposed black-out periods under its previously announced Normal Course Issuer Bid ("NCIB"). There remain 2.2 million common shares permitted to be acquired by the Company under its NCIB which will expire on March 3, 2012. This represents approximately 5% of DHX's public float of 39,454,369 common shares as of January 26, 2012 of which there were 53,097,139 common shares issued outstanding. Under security regulations, the Company was permitted to resume the NCIB 20 business days following the December 29, 2011closing of its Substantial Issuer Bid.
Under DHX's automatic share purchase plan, DHX's broker may repurchase shares under the NCIB at any time including, without limitation when DHX would ordinarily not be permitted to due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by DHX's broker based on parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties' written agreement. The automatic share purchase plan has been reviewed by the TSX and is expected to be effective for the duration of the NCIB.
About DHX Media Ltd:
DHX Media, together with its subsidiary, W!LDBRAIN Entertainment, is a leading international family entertainment rights creation and management company with three-award-winning production facilities, worldwide distribution and a global consumer products business. DHX Media has produced over 40 original television series and maintains a library of over 2,500 half-hours of animation and live-action programming. DHX Media has offices in Toronto, Halifax, Vancouver, Los Angeles and London. DHX Media is listed on the TSX (Toronto Stock Exchange).
This press release contains forward looking statements with respect to the Company. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include risks related to market factors, customer contract interpretation, application of accounting policies and principles, and production related risks, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under "Risk Factors" in the Company's short form prospectus dated April 9, 2010 and in the Company's Annual Information Form incorporated by reference therein. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.
For further information:
David A. Regan - EVP, Corporate Development & IR