Peace Arch® Entertainment Announces Receipt of Notice from NYSE Amex LLC as to Its Review of Peace Arch’s Plan of Compliance
22 Mai 2009 - 3:41AM
Business Wire
Peace Arch� Entertainment Group Inc. (AMEX:PAE) (Toronto: PAE),
announced today that on May 15, 2009 it has received notice from
the NYSE Amex LLC (the �Exchange�) that the Exchange has completed
its review of Peace Arch�s plan of compliance (the �Plan�).
On March 5, 2009, the Company had received notice from the
Exchange that it is not in compliance with Sections 134 and 1101 of
the NYSE Amex LLC Company Guide as a consequence of its failure to
file with the Securities and Exchange Commission its Annual Report
on Form 20-F for the year ended August 31, 2008 (the �Form 20-F�).
The Company was afforded the opportunity to submit a plan of
compliance to the Exchange and on March 19, 2009 presented its Plan
to the Exchange.
On May 15, 2009, the Exchange notified the Company that it has
determined to grant an extension until June 30, 2009 for the
Company to file the Form 20-F and that its listing is being
continued pursuant to an extension. The Company will be subject to
periodic review by Exchange Staff during the extension period.
Failure to make progress consistent with the Plan or to regain
compliance with the continued listing standards by the end of the
extension period could result in the Exchange initiating immediate
delisting proceedings.
About Peace Arch Entertainment Group Inc.
Peace Arch Entertainment produces and acquires feature films,
television and home entertainment content for distribution to
worldwide markets. Peace Arch owns one of the largest libraries of
top quality independent feature films in the world, featuring more
than 2,000 classic and contemporary titles. For additional
information, please visit www.peacearch.com.
Forward-Looking Statements
This press release includes statements that may constitute
forward-looking statements, usually containing the words �believe,�
�estimate,� �project,� �expect,� or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, that the corresponding
restatement of Peace Arch�s financial statements may change based
upon the Audit or Special Committee�s ongoing analysis, that
potential claims or proceedings may arise relating to such matters,
that the Exchange will approve any plan submitted by Peace Arch,
that Peace Arch will be able to remain in compliance with any plan
approved by the Exchange, that the Audit or Special Committee in
consultation with Peace Arch�s independent auditors will determine
that the proper accounting differs from the accounting treatment
upon which the assumptions and forward looking statements in this
release are based and other risks detailed in Peace Arch�s periodic
report filings with the Securities and Exchange Commission and with
the Canadian securities regulators. By making these forward-looking
statements, Peace Arch undertakes no obligation to update these
statements for revisions or changes after the date of this
release.
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