MONTREAL – M8 Entertainment Inc., a Montreal-based film company, says its primary shareholder, International Entertainment Corp., will try to liquidate.
M8's management, however, "considers it unlikely that such liquidation would have a direct effect on the subsidiaries," it said, which would continue to operate as before.
M8 (TSXV:MEE.SV.B) said International Entertainment, a company based in Hong Kong, had passed a resolution to call for a special meeting of the shareholders to "effect a voluntary liquidation of the corporation."
M8's Class A multiple voting shares and the Class B subordinate voting shares were delisted for failure to meet the continued listing requirements in March of last year.
In 2004, International Entertainment acquired 51 per cent of Montreal-based M8 for US$11.6 million.
