Knightscove Media Corp. announces shareholder approval of a capital reorganization

("Knightscove" is pleased to announce that a special
resolution authorizing a capital reorganization of the Company was approved by
a vote of 100% of Non-Insider votes cast during a special shareholder meeting
held on November 26th, 2007. As required by the TSX Venture Exchange, the
resolution was approved by a "majority of the minority", meaning an
affirmative vote of at least 50.1% percent of the votes cast by shareholders
other than votes attached to common shares held directly or indirectly by
insiders of the Corporation and their affiliates or associates. Accordingly,
all shares held by or on behalf of the officers, directors, or other insiders
of the Corporation and their associates or affiliates were not taken into
account for the purposes of this vote.
    Subject to approval by the Exchange, the Corporation will amend its
Article of Incorporation allowing each common share of Knightscove to be
exchanged for one-half of a Multiple Voting Share and one-half of a
Subordinate Voting Share. Both classes will be listed and fully participating,
but the Multiple Voting class will carry 50 votes per share and the
Subordinate Voting class will carry one vote per share. This new capital
structure will give Knightscove more flexibility to pursue international
equity financings while continuing to adhere to the Canadian ownership
restrictions of the Broadcasting Act (Canada). It is expected that a Notice of
record date and effective date for the capital reorganization will be filed
within the next few weeks.
    Also approved by 100% of Non-Insider votes cast during the special
shareholder meeting held on November 26th, 2007 was stock compensation for
Non-Insider Directors of the Corporation. Management believes that
Knightscove's ability to attract and maintain the most qualified directors,
senior management and consultants in the entertainment industry and to
recognize their contribution to the Corporation's overall performance is
primarily based on its ability to compensate those parties at a competitive
market rate.

    About Knightscove and Morningstar:
    Knightscove Media Corp. along with its wholly owned subsidiaries,
Morningstar Entertainment Inc. ("Morningstar") and Knightscove Family Films
Inc., is an integrated Canadian entertainment company specializing in the
distribution, acquisition and creation of high quality live-action feature
films and television productions for the whole family. With the acquisition of
Morningstar, one of Canada's leading independent home entertainment
distribution companies in the home video and DVD markets, Knightscove has
executed the first step in its strategy to distribute family film product to
the theatrical, home video/DVD, pay, specialty and free television markets in
North America and internationally. Established 15 years ago, Morningstar has
over 1,400 titles in its DVD library.
    Additional information regarding the business of Knightscove may be found
on on SEDAR at and on The TSX
Venture Exchange does not accept responsibility for the adequacy or accuracy
of this release.

    %SEDAR: 00020799E

For further information:

For further information: Knightscove Media Corp., Leif Bristow,
President and CEO, (416) 444-7900 ext 222; Porter, Levay & Rose, Michael
Porter, President or Linda Decker, (212) 564 - 4700

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890