TORONTO, March 12, 2012 /CNW/ - Aastra Technologies Limited - (TSX: "AAH") today announced that, in connection with Aastra's previously announced offer to repurchase for cancellation up to $50 million of its common shares, Aastra has obtained exemptive relief from the Ontario Securities Commission, its principal regulator, with respect to the offer as further described in the issuer bid circular dated February 22, 2012.
Issuer bid materials were mailed to all shareholders on or about February 27, 2012. Shareholders should review the materials carefully. The offer will expire at 5:00 p.m. EST (Toronto time) on April 10, 2012, unless extended by Aastra.
About Aastra Technologies Limited
Aastra Technologies Limited (TSX: "AAH"), is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications networking products, including terminals, systems, and applications. For more information on Aastra, visit our website at http://www.aastra.com.
This press release contains forward-looking information or forward-looking statements within the meaning of applicable securities legislation ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken or achieved) are not statements of historical fact, but are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Aastra, or developments in Aastra's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements may include, but are not limited to: the number of shares Aastra may repurchase under the substantial issuer bid, the substantial issuer bid may or may not be an appropriate use of Aastra's corporate funds, the market price of the Common Shares does not fully reflect the value of Aastra (including its future potential), Shen Capital Corporation and 1615282 Ontario Limited intend to make proportionate tenders in accordance with the terms of the bid and other factors set out in Aastra's public filings with securities regulators from time to time. It is important to note that: unless otherwise indicated, forward-looking statements in this press release describe Aastra's expectations as of the date of this press release; Aastra cautions readers not to place undue reliance on the forward-looking statements in this press release as actual results may differ materially from expectations if known and unknown risks or uncertainties affect Aastra's business, or if estimates or assumptions prove inaccurate. Therefore, Aastra cannot provide any assurance that forward-looking statements will materialize and Aastra assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or other reason.
For further information: