MediaHouse Ltd.'s shareholders have voted in favour of delisting the company from the Bermuda Stock Exchange (BSX).

The announcement was made following the company's annual general meeting of shareholders held yesterday.

MediaHouse chairman and CEO, Randy French, said that while the company greatly respected and recognised the importance of having a public exchange in Bermuda, it was not using the BSX to raise capital and nor was the public actively trading the company's shares on the exchange.

"We have valued our long relationship with the Bermuda Stock Exchange, and the board's decision to recommend to the shareholders that the company's shares be withdrawn was not taken lightly," he said.

"However, we believe that it is in the company's best interest to move forward as a private company, and I am gratified that, having carefully considered both the pros and cons of the delisting, the shareholders of the company overwhelmingly agreed with the board's recommendation."

Mr. French indicated that MediaHouse, publisher of the Bermuda Sun, was working with its advisors on a programme to buy back some of its shares during the 90-day notice period, and that the company would release further information on this in due course.

The company's last day of listing will be on a date to be confirmed by the BSX.