Toronto Stock Exchange Symbol: RC
WATERLOO, ON, May 19 /CNW/ - RDM Corporation (TSX: RC), a leading
developer of specialized software and hardware products for electronic payment
processing, announced today that its Notice of Intention to make a Normal
Course Issuer Bid (the "Bid") has been accepted by the Toronto Stock Exchange
(the "TSX"). Pursuant to the Bid, RDM may purchase up to 1,041,871 common
shares, representing 5 per cent of the issued and outstanding common shares as
of May 14, 2009. The purchases may commence on May 21, 2009 and will terminate
on May 20, 2010, or on such earlier date that RDM completes its permitted
purchases pursuant to the Notice or provides notice of termination of the Bid.
All purchases will be made through the facilities of the TSX or other Canadian
marketplaces at prevailing market prices in accordance with regulatory
requirements. Subject to any block purchases made in accordance with TSX
rules, RDM will be subject to a daily repurchase restriction of 4,720 common
shares. RDM will cancel any common shares purchased pursuant to the normal
course issuer bid.
RDM's Board of Directors continues to believe that the Company's common
shares are an attractive investment and that normal course purchases at recent
market prices represent a desirable use of its available funds. Under its
previous normal course issuer bid, which expired May 12, 2009, RDM acquired
and cancelled 649,300 common shares during the year then ended at an average
price of $0.86. As at May 14, 2009, the Company had 20,837,426 issued and
outstanding common shares.
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the
Toronto Stock Exchange under the symbol RC. RDM is a leading provider of
specialized software and hardware products for electronic payment processing.
RDM has pioneered electronic check conversion systems and web based image and
transaction management services for banks, retailers, payment processors and
government agencies as well as print quality control and image quality systems
for a variety of global customers. For further information, visit RDM's
website at www.rdmcorp.com.
For further information:
For further information: Douglas Newman, President & CEO, RDM
Corporation, (519) 746-8483, (519) 746-3317 fax, firstname.lastname@example.org; James
Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483, (519)
746-3317 fax, email@example.com