TORONTO, Jan. 30, 2015 /PRNewswire/ - Mood Media today announces that the admission of its ordinary shares to trading on the AIM Market of London Stock Exchange plc ("AIM") will be cancelled with effect from 7.00 a.m. GMT on 2 March 2015. The last trading day on AIM will be 27 February 2015. The Company will continue to maintain its listing on the Toronto Stock Exchange ("TSX").
This decision has been made following a careful review of its AIM quotation by Mood Media's Board of Directors (the "Board"). The Board considers that the current and potential future benefits the Company could obtain from the quotation are exceeded by the costs incurred to administer the additional regulatory compliance requirements and to maintain the AIM quotation. In making the decision, the Board has given particular consideration to the changes in Mood Media's strategic focus and share register. The Board looks forward to the continued support of its current AIM shareholders through its TSX listing, which will continue to be the primary trading venue for the Company's shares.
Further information on the cancellation of admission to trading on AIM
Computershare Investor Services plc, acting in its capacity as share registrar and custodian to holders of Depository Interests ("DIs") in Mood Media, will be writing to all DI holders on 30 January 2015 to advise them of the cancellation process.
Mood Media's last trading day on AIM will be 27 February 2015. Up to and until this date, Mood Media's shares will continue to be traded on AIM. Following cancellation, DI holdings in Mood Media will be transferred to the Canadian based share register maintained by Computershare Investor Services Inc. and an updated holding statement of Mood Media shares will be issued to DI holders. If shareholders wish to sell their DIs before transfer to the Canadian share register, they must do so prior to the date of cancellation.
Mood Media will continue to maintain its listing on the TSX, an AIM Designated Market, and, as such, cancellation will not be conditional upon shareholder consent pursuant to Rule 41 of the AIM Rules. DI holders wishing to trade Mood Media's shares after the date of cancellation will be able to do so through the TSX. Further information will be provided in the letter to DI holders.
Mood Media will continue to comply with all accounting and regulatory requirements for a reporting issuer listed on the TSX.
About Mood Media Corporation
Mood Media Corporation (TSX:MM / LSE AIM:MM), is one of the world's largest designers of in-store consumer experiences, including audio, visual, interactive, scent, voice and advertising solutions. Mood Media's solutions reach over 150 million consumers each day through more than half a million subscriber locations in over 40 countries throughout North America, Europe, Asia and Australia. Mood Media Corporation's client base includes more than 850 U.S. and international brands in diverse market sectors that include: retail, from fashion to financial services; hospitality, from hotels to health spas; and food retail, including restaurants, bars, quick-serve and fast casual dining. Our marketing platforms include 77% of the top 100 retailers in the United States and 100% of the top 50 quick-serve and fast-casual restaurant companies.
For further information about Mood Media, please visit www.moodmedia.com.
SOURCE Mood Media Corporation