Halifax, NS – 19 March 2009 – DHX Media Ltd (AIM & TSX ticker: “DHX”) (“the Company”), a leading independent international producer and distributor of television programming and interactive content announces that it intends to purchase at market price up to 2,841,913 common shares of the Company being approximately 10% of its public float of 28,419,131 common shares as of March 17, 2009, and representing approximately 6.6% of its issued share capital, by way of a normal course issuer bid (“the Bid”) through the facilities of the Toronto Stock Exchange (TSX). As of March 17, 2009, there were 42,834,001 common shares issued and outstanding. DHX considers the Bid a worthwhile investment and it will commence on March 23, 2009, and end no later than March 22, 2010 observing the purchasing restrictions during ‘black out’ or ‘close’ periods. The Bid will be funded from the Company’s existing cash resources. Any shares purchased under the Bid will be cancelled. The TSX rules permit DHX to purchase daily, through TSX facilities, a maximum of approximately 12,156 common shares under the Bid, being 25% of the average daily trading volume of 48,625 over the last six months.
In the opinion of the Company’s board of directors and senior management, DHX shares may occasionally trade in a price range which does not adequately reflect the value of underlying assets based on the Company’s business and financial position. Consequently, the Company may, from time to time, purchase common shares of the Company under the Bid. DHX has not purchased any shares of the Company pursuant to a normal course issuer bid during the preceding 12 months.
For more information, please contact:
DHX Media Ltd. +1 902-423-0260
David A. Regan – EVP Corporate Development & IR
AIM Nominated Advisors:
Grant Thornton UK LLP +44 (0) 20 7383 5100
About DHX Media
DHX Media Ltd. is a leading international producer and distributor of television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. is listed on AIM and on the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment and Halifax Film, are the producers or co-producers of 11 original television series or theatrical releases currently commissioned for production and maintain a growing library of over 1,700 half-hours of mostly children and youth-oriented television productions. www.dhxmedia.com
Certain statements herein may constitute forward-looking statements, including those identified by the expressions ‘‘may’’, ‘‘will’’, ‘‘should’’, ‘‘could’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘plan’’, ‘‘estimate’’, ‘‘potential’’, ‘‘expect’’, ‘‘intend’’ and similar expressions to the extent they relate to the Company or its Management. These statements reflect the Company’s current expectations and are based on information currently available to Management. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from current expectations, including the matters discussed under ‘‘Risk Factors’’ contained in the Company’s prospectus dated May 12, 2006. 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.