CINAR Seeks Revision of Nasdaq Decision to Delist Shares.Business Editors MONTREAL--(BUSINESS WIRE)--Aug. 2, 2000 CINAR Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CIF (1) (Common Intermediate Format) A standard video format used in videoconferencing. CIF formats are defined by their resolution, and standards both above and below the original resolution have been established. The original CIF is also known as Full CIF (FCIF). .A.)(TSE:CIF.B.)announced that it has been advised by Nasdaq that its shares are delisted effective today, August 2, 2000. CINAR will request that the Nasdaq Listing and Hearing Review Council review this decision of the Nasdaq Listing Qualifications Panel. "We fully understand Nasdaq's objectives in this matter. We wish to comply with the requirements of The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. and to protect the interest of CINAR shareholders by providing accurate, complete and publicly-filed audited financial statements on our Company as quickly as possible. We believe a hearing with the Nasdaq Review Council will give us the opportunity to demonstrate the progress we are making in this regard and the extent of our efforts to comply as rapidly as possible with Nasdaq requirements," stated Barrie Usher, CINAR President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . CINAR's request for a review of this decision will not stay its implementation. CINAR also indicated that it has been informed by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE) that the eligibility of CINAR's shares for continued listing on the TSE remains under review by the Exchange. CINAR has been advised that no immediate step to suspend or delist CINAR from this Exchange will be taken. CINAR Corporation (Toronto Stock Exchange; CIF.A, CIF.B) is an integrated entertainment and education company involved in the development, production, post-production and worldwide distribution of non-violent, quality programming and educational products for children and families. CINAR's web site is www.cinar.com. This release may include information that could constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 (U.S.). Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. Actual results or conditions may differ from those anticipated by these and other forward-looking statements. Such forward-looking statements are subject to a number of known or unknown risks and uncertainties. |
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