Halifax-based family media company DHX Media, which is doing business as WildBrain, announced on Thursday it 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 said it expects that its shares will cease trading on Nasdaq on or about Dec. 24.
Following its delisting from Nasdaq, Wildbrain said it intends to voluntarily deregister its shares in the U.S. and cease its public reporting obligations with the Securities and Exchange Commission. The company's Form 40-F for the fiscal year ended on June 30, 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.com and on its website at wildbrain.com.
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