CanWest Announces Intention to Delist From The New York Stock Exchange
May 11 2007 - 5:52PM
PR Newswire (US)
WINNIPEG, May 11 /PRNewswire-FirstCall/ -- CanWest Global
Communications Corp. (CanWest) announced today that it is
voluntarily withdrawing the listing of its non-voting shares from
The New York Stock Exchange (NYSE). These shares trade under the
symbol CWG. The announcement follows an extensive review by
management of the ongoing listing and administrative costs and
benefits of maintaining a listing of the Company's non-voting
shares on the NYSE. The Board of Directors approved management's
recommendation at its April Board Meeting. "The primary market for
CanWest Global equity securities is in Canada. Capital is more
mobile than ever and those who want to invest in CanWest have a
very liquid exchange in Toronto," said President and CEO Leonard
Asper. "We believe that the trading volume of our securities on the
NYSE is not sufficient to support the continuation of our listing
and the associated listing and administrative costs." CanWest
intends to file a Form 25 with the SEC on or about May 22, 2007, to
effect the delisting. The delisting will be effective ten days
after this filing. CanWest also intends to file a Form 15F with the
SEC to deregister and terminate its SEC reporting obligations
following June 4, 2007. CanWest's subsidiary CanWest MediaWorks
Inc. will continue to file reports with the SEC in accordance with
the terms of the indentures governing its outstanding notes.
CanWest's non-voting shares will continue to be listed and traded
on the Toronto Stock Exchange under the trading symbol CGS.A.
CanWest's subordinate voting shares are listed and trade on the
Toronto Stock Exchange under the trading symbol CGS. About CanWest
Global Communications Corp.
----------------------------------------- CanWest Global
Communications Corp. (http://www.canwestglobal.com/), (TSX: CGS and
CGS.A, NYSE: CWG) an international media company, is Canada's
largest media company. In addition to owning the Global Television
Network, CanWest also owns, operates and/or holds substantial
interests in Canada's largest publisher of daily newspapers, and
conventional television, out-of-home advertising, specialty cable
channels, web sites and radio stations and networks in Canada, New
Zealand, Australia, Turkey, Singapore, the United Kingdom and the
United States. DATASOURCE: CanWest Global Communications Corp.
CONTACT: Deb Hutton, Senior Vice President, Corporate
Communications, Tel: (416) 383-2442,
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