Enables Normal Course Issuer Bid purchases to continue during company's quarterly trading blackout period
TORONTO, Dec. 22 /CNW/ - Absolute(R) Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-based, patented, computer theft recovery, data protection and IT asset management solutions today announced approval from the TSX for an Automatic Share Purchase Plan ("Plan") commencing December 24, 2009, which will enable the company to continue purchasing shares under its Normal Course Issuer Bid ("Bid") during its quarterly trading blackout period.
Absolute believes that purchases under the Bid are an appropriate use of corporate funds, and accordingly, desires to continue making purchases under the Bid during its quarterly trading blackout period. In accordance with company policy, the quarterly blackout period goes into effect at the close of business on December 22, 2009 and is expected to terminate on February 3, 2010 (after dissemination of the reporting materials). As a result, purchases under the Plan are approved to commence on December 24, 2009, with trading through a designated broker that is a participating organization of the TSX. The Plan expires at the close of business on February 3, 2010, and, subject to pre-determined pricing and volume restrictions imposed by the company, to the rules and polices of the TSX and to the specific terms of the Bid, all trades under the Plan are entirely at the broker's discretion.
The company's Bid was approved by the TSX to commence on November 6, 2009 and enables Absolute to purchase and cancel up to 3,337,617 of its shares. Up to December 22, 2009, the company had purchased 20,475 shares under the current Bid.
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the leader in computer theft recovery, data protection and IT asset management solutions. Absolute Software provides organizations and consumers with solutions in the areas of regulatory compliance, data protection and theft recovery. The company's Computrace software is embedded in the firmware of computers by global leaders, including ASUS, Dell, Fujitsu, Fujitsu-Siemens, GamaTech, General Dynamics Itronix, HP, Lenovo, Motion, Panasonic and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple.
This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements made in this press release include the intent of Absolute to purchase and cancel shares and the term of the Bid. While these statements reflect Absolute's current expectations, there is no certainty that purchases of Absolute's shares will be made under the Bid, as purchases are made subject to market conditions and compliance with rules that govern normal course issuer bids and purchases under the Plan are at the discretion of the broker selected to operate the Plan.
(C)2009 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. Computrace U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280, No. 5,896,497, No. 6,244,758, No. 6,269,392, No. 6,300,863, and No. 6,507,914. Canadian patents No. 2,284,806 and No. 2,205,370. U.K. patents No. EP793823 and No. GB2338101. German patent No. 695 125 34.6-08. Australian patent No. 699045. Japanese patent No. JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.
SOURCE Absolute Software Corporation
For further information: For further information: Absolute Investor Relations: Dave Mason, CFA, The Equicom Group, email@example.com or (416) 815-0700 x237