Enables Normal Course Issuer Bid purchases to continue during company quarterly blackout periods through to November 2010
VANCOUVER, May 4 /CNW/ - Absolute(R) Software (TSX: ABT), the leading provider of firmware-based, patented computer theft recovery, data protection and secure computer lifecycle management solutions, today announced approval from the TSX for an Automatic Share Purchase Plan ("Plan") commencing May 6, 2010, which will enable the company to continue purchasing shares under its Normal Course Issuer Bid ("Bid") during its company-imposed trading blackout periods.
Absolute believes that purchases under the Bid are an appropriate use of corporate funds, and accordingly, desires to have purchases under the Bid automatically continue during the remainder of the Bid. The Plan expires at the close of business on November 5, 2010, and, subject to pre-determined pricing and volume restrictions imposed by the company, to the rules and policies 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 May 4, 2010, the company had purchased 20,000 shares under the current Bid.
Absolute Software Corporation (TSX: ABT) is the leader in tracking, managing and protecting computers and mobile devices. The Company's Computrace, Absolute Manage and LoJack(R) for Laptops solutions provide theft recovery, data protection and computer lifecycle management capabilities to organizations and consumers. The Company's software agent is embedded in the firmware of computers by global leaders, including Acer, ASUS, Dell, Fujitsu, General Dynamics Itronix, HP, Lenovo, Motion, Panasonic and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute Software, visit www.absolute.com and http://blog.absolute.com.
(C)2010 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. LoJack is a registered trademark of LoJack Corporation, used under license by Absolute Software Corporation. LoJack Corporation is not responsible for any content herein. All other trademarks are property of their respective owners. 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. Japan 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: Rob Chase, Chief Financial Officer, (email@example.com) or Phone: (604) 730-9851; Dave Mason, Investor Relations, (firstname.lastname@example.org) or Phone: (416) 815-0700 x237, Website: http://www.absolute.com