CALGARY, Dec. 13, 2013 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the "Company") (TSX:IDL), reports that its efforts to have the Continued Listing Committee of the TSX (the "Committee") revisit its earlier decision to delist the common shares of the Company have been unsuccessful. The Board of Directors of the Company strongly disagrees with the determination of the Committee and considered appealing the decision, ultimately deciding that it was in the interests of shareholders to seek another market for the trading of its common shares. The TSX has indicated that the delisting date will be January 13, 2014 in order to facilitate the Company's transition to another market. A listing application file has been opened with the TSX V. The TSX has indicated that further extensions to the delist date may be granted if the TSX is confident that the Company is actively working to more to another market.
Mr. Sidong Huang, President and CEO of the Company, stated as follows: "The Company is disappointed with the decision of the Committee. Over the past several months, IDC has made strong and steady progress in building sales activity and in identifying additional opportunities for new revenue streams." Mr. Huang added as follows: "I want to assure our shareholders the Company will do everything necessary to ensure that the common shares of IDC will be listed for trading on another appropriate market, without interruption. The Board and management appreciate the loyalty of our shareholders and understand their concerns with the TSX process. The Company has an exciting future ahead of it and we are committed to enhancing shareholder value focusing on implementing best practices of governance, careful management of financial resources and full exploitation of the potentially game changing previously announced strategic partnership that management is developing with Kangda Medical."
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and innovative force in the high growth field of digital radiography (DR) technology.
The Company has over 3,000 installations in 50 countries of its proprietary, award winning direct capture DR technology, which replaces conventional film-based diagnostic imaging and provides a cost-effective solution for medical facilities of all sizes to provide high quality diagnostic X-ray images and improve the level of healthcare for their patients.
Throughout its history, IDC has been recognized by multiple industry organizations and research analysts such as: Frost & Sullivan and Deloitte Technology; for its dedication to innovation, global market growth, and customer focused value proposition.
The Company has its corporate office in Calgary, Canada, a business office in Hong Kong, and a representative office in Beijing, China.
Visit the IDC web site: www.imagingdynamics.com
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. IDC may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions. Known and unknown risks and uncertainties include: IDC's ability to manufacture its products with a sufficient level of quality and in volumes which satisfy market demand; the ability of IDC to establish direct and indirect sales channels; the ability of IDC to establish industry partnerships; IDC's ability to attract and retain key personnel; the strength and breadth of IDC's patents; and other factors relating to general economic conditions, specific industry conditions and IDC's particular situation.
SOURCE: Imaging Dynamics Company Ltd.
For further information:
President and Chief Executive Officer
1.866.975.6737 Toll Free
Ms. Anna Lentz
Chief Financial Officer
1.866.975.6737 Toll Free