COM DEV Announces Approval of Normal Course Issuer Bid
CAMBRIDGE, ON,
Pursuant to the Notice, the Corporation proposes to repurchase up to an aggregate of 7,165,031 common shares during the 12 month period (the "Bid Period") commencing
As of
The board of directors of the Corporation believes that the Corporation's common shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation's business and its future business prospects. As a result, depending upon future price movements and other factors, the board of directors of the Corporation believes that the repurchases of the common shares of the Corporation are in the best interest of the Corporation and represent a desirable use of corporate funds.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware subsystems. With facilities in
This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company's business prospects may be materially different from forward-looking statements made by the Company.
The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.
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For further information: Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, [email protected]; Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, [email protected]
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