Tybourne Capital Management (HK) Limited

September 04, 2015 10:04 ET

Tybourne Capital Management (HK) Limited Files Early Warning Report in Respect of DHX Media Ltd.

HONG KONG, CHINA--(Marketwired - Sept. 4, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

Tybourne Capital Management (HK) Limited ("Tybourne") has filed an early warning report dated September 4, 2015 advising of its control or direction over securities of DHX Media Ltd. (the "Company").

Effective October 6, 2014, all of the issued and outstanding common shares of the Company were converted into two new classes of shares, namely, common voting shares (the "Common Voting Shares") and variable voting shares (the "Variable Voting Shares" and together the "Shares") to ensure the Company's compliance with Canadian control requirements of the Broadcasting Act (Canada). Shares are deemed to be automatically converted to Common Voting Shares when held by Canadians and into Variable Voting Shares when held by non-Canadians. Following the foregoing reorganization of the Company's common shares, as at October 6, 2014, Tybourne exercised control or direction over 9,453,750 Variable Voting Shares of the Company, representing approximately 7.88% of the aggregate Common Voting Shares and Variable Voting Shares treated as a single class and representing approximately 16.86% of the outstanding Variable Voting Shares of the Company.

As of the date of this report, Tybourne exercises control or direction over 7,877,060 Variable Voting Shares of the Company, representing approximately 6.33% of the aggregate Common Voting Shares and Variable Voting Shares treated as a single class and representing approximately 19.41% of the outstanding Variable Voting Shares of the Company as disclosed in the Company's short form base shelf prospectus dated July 2, 2015. Because the Common Voting Shares and Variable Voting Shares are automatically converted into the other class depending on the status of the holder, it is not possible for Tybourne to know at any given moment the number of outstanding Variable Voting Shares of the Company.

The Company's management information circular dated September 3, 2014 indicates that the Company intends to seek exemptive relief from the Canadian securities regulatory authorities to treat the Common Voting Shares and Variable Voting Shares as a single class for early warning reporting purposes.

The securities described herein are being held for investment purposes only. Depending on market and other conditions, Tybourne and any joint actor may from time to time in the future increase or decrease its ownership or control or direction over, or exercise its current right to acquire the common shares or other securities of the Company, through market transactions, private agreements or otherwise.

A copy of the early warning report may be found on the Company's profile at www.sedar.com or may be obtained from Uma Bhugtiar at (+852) 3983 6860.

The issuance of this news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.

Contact Information

  • Tybourne Capital Management (HK) Limited
    Uma Bhugtiar
    (+852) 3983 6860