Destiny Media Renews Share Repurchase Program
Vancouver, BC – July 6th, 2011 – Destiny Media Technologies (TSXV: DSY) (OTCBB: DSNY) is pleased to announce the share repurchase program announced November 30th, 2009 and expanded on July 6, 2010 is being renewed for another year.
Under the original plan, which expired June 30th, 2011, the company repurchased out of the market and canceled a total of 1,998,465 shares.
The board of directors has authorized a new tranche to repurchase up to 2.5 million shares of the company's common stock at a maximum share purchase price of $0.80 per share. The repurchases will be at times and in amounts as the company deems appropriate and will be made through open market transactions. All repurchases will be made in compliance with the Securities and Exchange Commission's Rule 10b-18, subject to market conditions, applicable legal requirements and other factors. The board approved stock repurchase program runs through June 30th, 2012. In addition to the applicable securities laws, the company will not make any purchases during a time at which its insiders are subject to a blackout from trading in the company's common shares.
About Destiny Media Technologies
Destiny Media (http://www.dsny.com) is the developer of the Play MPE® system (http://www.plaympe.com) which the recording industry uses to securely distribute new pre-release music through the internet to trusted recipients such as radio, media and VIP's. Real time usage statistics are available at http://www.plaympe.com/v4/company/plaympestats.php and a product overview is available at http://dsny.com/pres/index.htm
CEO Destiny Media Technologies, Inc.
604 609 7736 x222
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