Toronto's Cinram to end U.S. filing
EmptyBANFF, Alberta -- Canadian multimedia product manufacturer Cinram International Income Fund said Wednesday that it is ending its registration under the U.S. Securities Exchange Act.
Toronto-based Cinram, which makes prerecorded media products for Hollywood studios and other entertainment customers, did not explain the reasons for the voluntary deregistration, indicating only that it will end its American filing responsibilities in 90 days.
At the same time, Cinram, which trades on the Toronto Stock Exchange, said it "will continue to meet its Canadian continuous disclosure obligations through filings with the applicable Canadian securities regulators."
Pulling back from U.S. securities registration means Cinram will no longer be subject to the accounting requirements of the Sarbanes-Oxley Act of 2002.
The Canadian CD and DVD manufacturing giant late last year hired a financial adviser to consider "strategic and financial alternatives," including selling itself off or going private.