Halifax, NS – 11 July 2008 – DHX Media Ltd (AIM & TSX ticker: “DHX”), a leading independent international producer and distributor of television programming and interactive content announces in accordance with AIM Rule 17 that on 2 July 2008, it has entered into conditional agreements (“the Agreements”) to acquire the entire issued share capital of a film production company and library (“the Business”) which would involve the issuance of shares to a director of the Company.
The minimum amount payable pursuant to the Agreements is $705,000. Additional consideration may be payable upon certain performance criteria being achieved by the Business.
J. William Ritchie, a director of the Company is a shareholder in the Business and as such may receive a sum of up to $75,000 in aggregate to be satisfied by the issue of up to 50,664 Common Shares of the Company at a price of $1.48 each. The closing of the transaction and the issue of such shares will be subject to a number of conditions of the Agreements being satisfied. J. William Ritchie would, upon the issue of all such shares, hold in aggregate 564,218 Common Shares in the Company.
For more information, please contact:
DHX Media Ltd. Halifax: +1 902-423-0260
David A. Regan – EVP, Corporate Development & IR
AIM Nominated Advisors:
Grant Thornton Corporate Finance +44 (0) 20 7383 5100
About DHX Media Ltd.
DHX Media Ltd. is a leading international producer and distributor of television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. shares trade on AIM and are listed on the TSX, the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment, Halifax Film and Studio B Productions, are the producers or co-producers of 17 original television series and theatrical releases currently commissioned for production and maintain a growing library of over 2,200 half-hours of mostly children and youth-oriented television productions. www.dhxmedia.com
Certain statements herein may constitute forward-looking statements, including those identified by the expressions ‘‘may’’, ‘‘will’’, ‘‘should’’, ‘‘could’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘plan’’, ‘‘estimate’’, ‘‘potential’’, ‘‘expect’’, ‘‘intend’’ and similar expressions to the extent they relate to the Company or its Management. These statements reflect the Company’s current expectations and are based on information currently available to Management. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from current expectations, including the matters discussed under ‘‘Risk Factors’’ contained in the Company’s prospectus dated May 12, 2006. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.