TORONTO and SANTA CLARA, Calif., – DataMirror Corporation (the "Company") (NASDAQ: DMCX - News; TSX: DMC - News ), has decided to voluntarily delist its common shares from the NASDAQ National Market effective at the close of business on November 4, 2005. These shares currently trade under the symbol DMCX. DataMirror’s common shares will continue to be listed and trade on the Toronto Stock Exchange under the symbol DMC.
"Given the very low volume of trading in our common shares on NASDAQ, and the on-going listing and compliance costs, our board of directors determined that this listing was no longer cost-effective," said Peter Cauley, DataMirror CFO. "The Toronto Stock Exchange has served as the primary trading market for our shares in the past and our continued listing on that exchange will provide sufficient ongoing liquidity for our shareholders."
At the beginning of its next fiscal year, the Company also plans to file the necessary documentation in order to suspend its reporting obligations in the United States under the Securities Exchange Act of 1934. The Company will file its annual report for the fiscal year ending January 31, 2006, after which it will cease to file documents with the US Securities and Exchange Commission. All documents will continue to be available through SEDAR (System for Electronic Document Analysis and Retrieval) pursuant to Canadian securities laws.
DataMirror (NASDAQ: DMCX - News; TSX: DMC - News), a leading provider of real-time data integration, protection and java database solutions, improves the integrity and reliability of information across all of the systems that create and store data. DataMirror's flexible and affordable integration solutions allow customers to easily and continuously detect, translate, and communicate information changes throughout the enterprise. DataMirror helps clients make better decisions by providing access to the continuous, accurate information they need to take timely action and move forward faster.
Over 2,000 companies have gained tangible competitive advantage from DataMirror software, including Debenhams, FedEx Ground, First American Bank, OshKosh B'Gosh, Priority Health, Tiffany & Co., and Union Pacific Railroad. DataMirror is headquartered in Markham, Canada and has offices around the globe. For more information, visit www.datamirror.com.
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"Safe Harbour" Statement under the United States Private Securities Litigation Reform Act of 1995:
Forward-looking statements in this press release, including statements regarding DataMirror Corporation's business which are not historical facts, are made pursuant to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of plans, objectives, strategies and expectations. The words "will", "plan" and similar expressions are intended to identify forward-looking statements. Certain important factors including changes in DataMirror’s U.S. shareholder base or changes in applicable securities rules or regulations could cause DataMirror to be unable to delist its shares from Nasdaq or to suspend its U.S. reporting obligations, and there can be no assurance that such events will not occur. Should one or more of these uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, DataMirror may not be able to delist its shares from Nasdaq or suspend its U.S. reporting obligations. DataMirror disclaims and does not assume any obligation to update these forward-looking statements.
Copyright 2005 DataMirror Corporation. All rights reserved. DataMirror, LiveBusiness and The experience of now are trademarks or registered trademarks of DataMirror Corporation. All other brand or product names are trademarks or registered trademarks of their respective companies.
Tom Giantsopoulos, Corporate Communications, DataMirror Corporation, 905-415-0310 ext. 153, firstname.lastname@example.org; Peter Cauley, Chief Financial Officer, DataMirror Corporation, 905-415-0310 ext. 271, email@example.com.
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DataMirror Requests NASDAQ Delisting