Notice of Cancellation of AIM Listing

 
TIDMADC 
 
Azure Dynamics Corporation ("Azure" or the "Company") - Notice of Cancellation 
of AIM Listing 
 
    OAK PARK, MI, April 6 /CNW/ - Azure Dynamics Corporation (TSX: AZD & LSE: 
ADC) ("Azure" or the "Company") a leading developer of hybrid electric and 
electric powertrains for commercial vehicles, today announced following its 
announcement of 16 January 2009, detailing the Company's planned restructuring 
and cost reduction plan, Azure hereby announces that, following a review of 
the Company's AIM listing by its Board, the Company has decided to cancel the 
admission of its common shares to trading on AIM with effect from 0700 on 8 
May 2009 (the "Cancellation Date"). The last trading day for the Company's 
shares on AIM will be 7 May 2009. 
    Given the Company's North American focused shareholder base and 
operations, the relatively low number of the Company's shareholders holding 
shares in the UK, the low volume of trading in shares on AIM and the 
additional costs incurred in maintaining a second listing on AIM, Azure's 
Board has concluded that, in the current economic environment, it is in the 
best interests of the Company to seek a cancellation of its shares from 
trading on AIM. 
    The Company will maintain its listing on the Toronto Stock Exchange 
("TSX") and shareholders wishing to trade the Company's Common Shares after 
the Cancellation Date will be able to do so through that market. Shareholders 
should not therefore be materially prejudiced by the proposed cancellation of 
the AIM listing. 
    UK shareholders who hold their shares in certificated form will be 
migrated to the Company's Canadian Register automatically and will receive 
communication shortly to this effect. 
    UK shareholders who hold their shares in uncertificated form via a CDI 
holding will continue to be able to trade their shares on the Canadian market. 
    Shareholders who are in any doubt as to what action, if any, to take in 
respect of their shareholdings are advised to consult their stockbroker, bank 
manager, solicitor, accountant or other independent professional adviser. For 
those not familiar with the Canadian securities system, public information on 
the Company can be accessed through www.sedar.com, an independent website on 
which all regulatory filings must be made. 
 
    Azure Dynamics 
 
    Azure Dynamics Corporation (TSX: AZD) (LSE: ADC) is a world leader in the 
development and production of hybrid electric and electric components and 
powertrain systems for commercial vehicles. Azure is strategically targeting 
the commercial delivery vehicle and shuttle bus markets and is currently 
working internationally with various partners and customers. The Company is 
committed to providing customers and partners with innovative, cost-efficient, 
and environmentally-friendly energy management solutions. Azure Dynamics' 
operations are based in North America and Europe. 
    For more information please visit www.azuredynamics.com. 
 
    The TSX and LSE Exchanges do not accept responsibility for the adequacy 
    or accuracy of this release. 
 
    Forward-looking Statements 
 
    This press release contains forward-looking statements. More 
particularly, this press release contains statements concerning Azure's 
business development strategy, projected commercial revenues and product 
deliveries. 
    The forward-looking statements are based on certain key expectations and 
assumptions made by Azure, including expectations and assumptions concerning 
achievement of current timetables for development programs, target market 
acceptance of Azure's products, current and new product performance, 
availability and cost of labor and expertise, and evolving markets for power 
for transportation vehicles. Although Azure believes that the expectations and 
assumptions on which the forward-looking statements are based are reasonable, 
undue reliance should not be placed on the forward-looking statements because 
Azure can give no assurance that they will prove to be correct. Since 
forward-looking statements address future events and conditions, by their very 
nature they involve inherent risks and uncertainties. Actual results could 
differ materially from those currently anticipated due to a number of factors 
and risks. These include, but are not limited to, the risks associated with 
Azure's early stage of development, lack of product revenues and history of 
losses, requirements for additional financing, uncertainty as to commercial 
viability, uncertainty as to product development and commercialization 
milestones being met, uncertainty as to the market for Azure's products and 
unproven acceptance of Azure's technology, competition for capital, product 
market and personnel, uncertainty as to target markets, dependence upon third 
parties, changes in environmental laws or policies, uncertainty as to patent 
and proprietary rights, availability of management and key personnel, and 
acquisition integration risk. These risks are set out in more detail in 
Azure's annual information form which can be accessed at www.sedar.com. 
    The forward-looking statements contained in this press release are made 
as of the date hereof and Azure undertakes no obligation to update publicly or 
revise any forward-looking statements or information, whether as a result of 
new information, future events or otherwise, unless so required by applicable 
securities laws. 
 
For further information: Ryan Carr, Chief Financial Officer, [phone] 
ext 1206, Email: rcarr(at)azuredynamics.com; Stuart Skinner, Richard Kenny, 
Tel: [phone], Numis Securities Limited as Nominated Adviser to the 
Company; David Poutney, Tel: [phone], Numis Securities Limited as 
Broker to the Company 
(AZD.) (ADC) 
 
 
 
 
 
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