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MediaHouse Limited Shareholders Approve Delisting From BSX
Hamilton, Bermuda: 13 April 2010 - MediaHouse Limited announced today that at its Annual General Meeting of Shareholders held on April 13, 2010, the shareholders of the Company voted in favor of a motion to delist the Company’s shares from the Bermuda Stock Exchange.
According to MediaHouse Chairman and CEO, Randy French, while MediaHouse has great respect for the BSX and the significant meaning of having a public exchange in Bermuda, the basic fact is that the Company is not using the BSX to raise capital and nor is the public actively trading the Company’s shares on the Exchange.
According to Mr. French: “We have valued our long relationship with the Bermuda Stock Exchange, and the Board’s decision to recommend to the shareholders that the Company’s shares be withdrawn was not taken lightly. However, we believe that it is in the Company’s best interest to move forward as a private company, and I am gratified that, having carefully considered both the pros and cons of the delisting, the shareholders of the company overwhelmingly agreed with the Board’s recommendation.”
Mr. French indicated that the Company was working with its professional advisors on a potential program to buy back certain of its own shares during the 90 day notice period, and that the Company would release further information on its decision in connection with this program in due course. The last day of listing for MediaHouse shares will be on a date to be confirmed by the Exchange.
Media Contacts – for further information please contact Randy French on 441-278-1801 or