DHX Media, a global leader in kids and family entertainment content, has entered into an automatic share purchase plan with its broker in order to facilitate repurchases of its common voting shares and variable voting shares ("Shares") under its normal course issuer bid ("NCIB"). On September 30, 2015, DHX announced that it had received approval from the Toronto Stock Exchange ("TSX") to make a normal course issuer bid to purchase up to 8,207,887 common voting shares and variable voting shares, representing 10 per cent of the Company's public float of 82,078,870 Shares as of September 25, 2015. The NCIB commenced on October 5, 2015 and will terminate no later than October 4, 2016.
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 do so due to regulatory restrictions or self-imposed blackout periods pursuant to the Company's Insider Trading Policy. Purchases will be made by DHX's broker based on parameters prescribed by the TSX, the NASDAQ Global Select Market and applicable Canadian and United States securities laws as well as 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
DHX Media Ltd. (www.dhxmedia.com) is a key player internationally in the production, distribution, broadcast and licensing of entertainment content for children and families. Owner of the world's largest independent library of kids' and family content, at more than 11,000 half-hours, DHX Media is recognized globally for such brands as Teletubbies, Yo Gabba Gabba!, Caillou, In the Night Garden, Inspector Gadget, Make It Pop, Slugterra and the multiple award-winning Degrassi franchise. DHX Media is comprised of four main business units: DHX Studios creates high-quality original entertainment at its Vancouver and Halifax animation studios, its Toronto live-action studio, and in working with top international producers; DHX Distribution is a major provider of content to the global market; DHX Television, home to the Family suite of channels, is dedicated to delivering best-in-class programming to Canadian families; and DHX Brands specializes in creating, building and managing high-profile global entertainment brands within the children's and young-adult markets. DHX Media also owns the full-service international licensing agency, Copyright Promotions Licensing Group Ltd. (CPLG), which represents numerous entertainment, sport and design brands. DHX Media has offices in 15 cities worldwide, including Toronto, Vancouver, Halifax, Los Angeles, London, Paris, Barcelona, Milan, Munich, Amsterdam and Beijing. The Company is listed on the NASDAQ Global Select Market under the ticker symbol DHXM, and on the Toronto Stock Exchange under the ticker symbols DHX.A and DHX.B.
This press release contains forward looking statements with respect to DHX Media including, without limitation, purchases under the Company's normal course issuer bid and the duration of the automatic share purchase plan and normal course issuer bid. 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 risk factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under "Risk Factors" in the Company's most recent Annual Information Form and annual Management Discussion and Analysis, which form part of the Company's registration statement on Form 40-F filed with the United States Securities and Exchange Commission. 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, except as required by law.