The Toronto Stock Exchange has informed Canwest Global Communications Corp. that its shares will be delisted at the end of the trading day on Nov. 13, the company announced.
The company’s subordinate voting shares and non-voting shares are being delisted for “failure by Canwest to meet the continued listing requirements of the TSX, as detailed in Part VII of The TSX Company Manual.”
Trading in Canwest shares, which was halted on Oct. 5 when the company filed for creditor protection, is to remain suspended.
Canwest spokesperson John Douglas told the Canadian Press:
“We could go on the TSX Venture Exchange or the NEX, if we chose to do that. No decision has been made there.”
“We believe that when the financial restructuring is completed in four to six months we’ll emerge a stronger competitor with less debt, and renewed financial outlook. When all of that happens, we believe we’ll have a strong case to be put back on the (TSX) again.”
Any appeal of this delisting decision must be initiated by
October 21, 2009.
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