Imax gets extension OK
EmptyTORONTO -- Imax Corp. is extending the deadline for filing its annual report after securing a waver from "a majority" of the holders of its $160 million in 9 5/8% senior notes, the giant-screen exhibitor said Friday.
The move came despite opposition from Toronto-based equity fund manager Catalyst Capital Group, which unsuccessfully argued that Imax should not receive additional time to file its 10K annual financial results after failing to meet a March 30 deadline.
With the consent in place, Toronto-based Imax said it will now file its 2006 financial results by May 31.
The delay in filing its financial report stems from the broadening of an internal review into $2.5 million in accounting errors that stretch from 2001-06 (HR 3/31).