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Alliance applies to terminate SEC registration
Tuesday September 26th 2006TORONTO (CP) _ Alliance Atlantis Communications Inc. (TSX:AAC.B) has applied to terminate the registration of its class-B, non-voting shares under the U.S. Securities Exchange Act.
The company said Tuesday it expects its de-registration in the United States to be effective in 90 days, after which time it will no longer be subject to the U.S. disclosure requirements of the Sarbanes Oxley Act of 2002.
As a result of the filing, Alliance Atlantis’ obligation to file reports with the U.S. Securities and Exchange Commission has been immediately suspended.
"Given the ongoing administrative costs we determined that registration in the United States was no longer cost effective for our business," chief financial officer David Lazzarato said in a release.
Alliance Atlantis will continue to be subject to the reporting requirements of Canadian securities regulators as well as the Toronto Stock Exchange.
Alliance Atlantis owns 13 specialty TV channels and co-produces and distributes the hit CSI franchise. Prior to its announcement, the company’s class-B shares lost a nickel to close at $34.15 on the Toronto Stock Exchange.
Headline, Industry News
Alliance applies to terminate SEC registration
Tuesday September 26th 2006TORONTO (CP) _ Alliance Atlantis Communications Inc. (TSX:AAC.B) has applied to terminate the registration of its class-B, non-voting shares under the U.S. Securities Exchange Act.
The company said Tuesday it expects its de-registration in the United States to be effective in 90 days, after which time it will no longer be subject to the U.S. disclosure requirements of the Sarbanes Oxley Act of 2002.
As a result of the filing, Alliance Atlantis’ obligation to file reports with the U.S. Securities and Exchange Commission has been immediately suspended.
"Given the ongoing administrative costs we determined that registration in the United States was no longer cost effective for our business," chief financial officer David Lazzarato said in a release.
Alliance Atlantis will continue to be subject to the reporting requirements of Canadian securities regulators as well as the Toronto Stock Exchange.
Alliance Atlantis owns 13 specialty TV channels and co-produces and distributes the hit CSI franchise. Prior to its announcement, the company’s class-B shares lost a nickel to close at $34.15 on the Toronto Stock Exchange.
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Headline, Industry News
Alliance applies to terminate SEC registration
Tuesday September 26th 2006TORONTO (CP) _ Alliance Atlantis Communications Inc. (TSX:AAC.B) has applied to terminate the registration of its class-B, non-voting shares under the U.S. Securities Exchange Act.
The company said Tuesday it expects its de-registration in the United States to be effective in 90 days, after which time it will no longer be subject to the U.S. disclosure requirements of the Sarbanes Oxley Act of 2002.
As a result of the filing, Alliance Atlantis’ obligation to file reports with the U.S. Securities and Exchange Commission has been immediately suspended.
"Given the ongoing administrative costs we determined that registration in the United States was no longer cost effective for our business," chief financial officer David Lazzarato said in a release.
Alliance Atlantis will continue to be subject to the reporting requirements of Canadian securities regulators as well as the Toronto Stock Exchange.
Alliance Atlantis owns 13 specialty TV channels and co-produces and distributes the hit CSI franchise. Prior to its announcement, the company’s class-B shares lost a nickel to close at $34.15 on the Toronto Stock Exchange.
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