Vizrt Board Decides to Concentrate Listing on Oslo
Application to be Submitted for Frankfurt Delisting
Bergen, Norway, May 14, 2009. Following a resolution by its Board of Directors, Vizrt Ltd. ("Vizrt") is to submit an application for the delisting of Vizrt shares from the Frankfurt Stock Exchange (the "FSE"). Following such delisting, Vizrt's shares will continue to be listed on the Oslo Stock Exchange (the "OSE"), providing Vizrt's shareholders with access to a regulated market, allowing them to continue trading in the Company's shares.
The ownership structure of Vizrt has also gradually shifted from being FSE based to being OSE based, implying a higher liquidity in Norway. The Board of Directors of Vizrt has on this basis decided that there are not sufficient grounds for a continued listing and registration on the FSE, provided that the listing on the OSE is maintained.
Vizrt's Chief Executive Officer, Bjarne Berg commented: "In the current climate we are focused on reducing the complexity of our operations and reducing costs. The delisting and deregistration from the Frankfurt Stock Exchange will allow us to maintain a high-quality trading facility on the Oslo Stock Exchange, while the same financial reporting and general disclosures requirements will still be applicable".
Following the delisting and deregistration from the FSE, all Vizrt shares previously listed and traded on the FSE will be eligible for continued trading on the OSE (subject to transfer of registration of the shares to the Norwegian VPS system). Vizrt will also continue to be subject to the rules of the OSE and the Norwegian Securities Trading Act 2007 (which implements relevant European Union regulations including MiFID, the Transparency Directive and the Takeover Directive).
The delisting will generally be effected between three to six months after the publication of FSE of its decision to revoke the listing on the FSE. The exact period will be published with the decision of FSE.
About Vizrt:
Vizrt creates leading-edge content production tools for the digital media industry - from award-winning 3D graphics & maps through integrated video workflow solutions to online publishing tools.
We propose a new vision for content creation, management and delivery with an end-to-end solution from conception to multi-format and multi-platform distribution. Through constant innovation and a good measure of fun, we create software and services that push creative boundaries, develop new ways of telling stories while always taking into account our customer's bottom line.
Vizrt's product suite is used by the world's leading broadcasters and publishing houses, including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, Network 18, TV Today, CCTV, NHK, The Globe and Mail, The Telegraph, and Welt Online. Furthermore, many world-class production houses and corporate institutions, including both the New York and London Stock Exchanges, utilize Vizrt solutions for the real time visualisation of information.
Vizrt is a public company traded on the Frankfurt Prime Standard and on the Oslo Main List: VIZ, ISIN: IL0010838154. For further information please refer to www.vizrt.com
Media and investors contacts:
Bjarne Berg
President & CEO
+47 9055 7711
bberg@vizrt.com
Paal Tønsberg
CFO
+47 9117 5748
ptonsberg@vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com