DHX Media Ltd. 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.
There remains 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.