Gennum Corporation Announces Normal Course Issuer Bid


BURLINGTON, ON, Sept. 21, 2011 /CNW/ - Gennum Corporation ("Gennum" or the "Corporation") (TSX: GND) announced today that it has received approval from the Toronto Stock Exchange (the "TSX") to acquire for cancellation, by way of a normal course issuer bid (the "Bid"), up to 2,689,940 common shares of the Corporation ("Common Shares"), which, at the date hereof, represent approximately 10% of the "public float" (as defined under the rules of the TSX) of the Corporation.  As of September 16, 2011, the Corporation had 35,560,199 issued and outstanding Common Shares.  The Bid will commence on September 23, 2011 and expire on the earlier of September 22, 2012 and the completion of purchases under the Bid.  Under the rules of the TSX, the maximum number of Common Shares which may be repurchased for cancellation will be reduced by the number of Common Shares purchased for employee equity-based incentive programs.

The Corporation believes that the proposed purchase of Common Shares pursuant to the Bid is in the best interests of the Corporation and that such purchases constitute a desirable use of the Corporation's funds.

Purchases of Common Shares pursuant to the Bid will be effected through the facilities of the TSX or such means (including other published markets) as may be permitted.  Purchases and payment for the Common Shares will be made by the Corporation in accordance with TSX requirements and the price which Gennum will pay for any Common Shares acquired under the Bid will be the market price for the Common Shares at the time of acquisition or as otherwise permitted.  Daily purchases will be limited to 6,281 Common Shares, other than block purchase exceptions.

For further information or to obtain a copy of the Notice filed with the TSX in connection with the Bid, please contact Greg Miller, Senior Vice-President, Finance & Administration and Chief Financial Officer, Gennum at (905) 632-2999, ext. 3060.

About Gennum

Gennum Corporation (TSX: GND) designs innovative semiconductor solutions and intellectual property (IP) cores for the world's most advanced consumer connectivity, enterprise, video broadcast and data communications products. Leveraging the company's proven optical, analog and mixed-signal products and IP, Gennum enables multimedia and data communications products to send and receive information without compromising the signal integrity. Recognized as an award winner for advances in high definition (HD) broadcasting, Gennum is headquartered in Burlington, Canada, and has global design, research and development and sales offices in Canada, Mexico, Japan, Germany, United States, Taiwan, India and the United Kingdom.

Caution Regarding Forward-Looking Statements

This news release contains forward-looking statements, including in relation to the proposed normal course issuer bid of Gennum (the "Bid"), the timing of the Bid and the common shares which may be acquired by Gennum thereunder.  While the Corporation has a present intention of acquiring Common Shares under the Bid, the Corporation has not made a specific determination as to the aggregate number of common shares it intends to acquire during the course of the NCIB.  Subject to compliance with the applicable requirements of the Toronto Stock Exchange, determinations regarding the timing of purchases and the number of common shares to be purchased will be based on market conditions applicable at the time of purchase, among other factors.  Readers should not place any undue reliance on such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future.  Readers are cautioned that such information may not be appropriate for other purposes. In addition, these forward-looking statements relate to the date on which they are made. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

SOURCE Gennum Corporation

For further information:

Greg Miller
Senior Vice-President, Finance & Administration
and Chief Financial Officer
Tel: 905-632-2999 ext 3060

Profil de l'entreprise

Gennum Corporation

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