WATERLOO, ON, April 21, 2015 /CNW/ - Sandvine Corporation (TSX: SVC) ("Sandvine" or the "Corporation"), a leading provider of intelligent network policy control solutions for fixed and mobile operators, is pleased to announce that the amended and restated shareholder rights plan agreement (the "Rights Plan") which amends and restates the Corporation's original shareholder rights plan agreement dated March 6, 2012 between the Corporation and Computershare Investor Services Inc. was approved by the Toronto Stock Exchange in accordance with the Toronto Stock Exchange Company Manual and has been implemented by the Corporation.
The Rights Plan was approved by the Corporation's shareholders at the annual and special meeting of shareholders of the Corporation held on April 9, 2015. The Rights Plan is designed to ensure the fair and equal treatment of the Corporation's shareholders in connection with any take-over bid for outstanding common shares of Sandvine and is not intended to prevent or deter take-over bids that offer fair treatment and value to shareholders, but is designed to encourage offers that represent fair value to all shareholders.
Additionally, the Rights Plan is designed to provide shareholders with adequate time to properly assess a take-over bid without undue pressure and to provide the Corporation's board of directors with adequate time to fully assess an unsolicited take-over bid, to allow competing bids to emerge, and, if applicable, to explore other alternatives to a take-over bid to maximize shareholder value. The Rights Plan is not being adopted in response to any proposal to acquire control of the Corporation and the Corporation is not aware of any such efforts at this time. Shareholders may access the Rights Plan through the Internet on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. Reference should be made to the full text of the Rights Plan for the details of its provisions.
Sandvine's network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks to enable services that can increase revenue and reduce network costs. Powered by Sandvine's Policy Engine and SandScript policy language, Sandvine's networking equipment performs end-to-end policy control functions including traffic classification, and policy decision and enforcement across the data, control and business planes. Sandvine's products provide actionable business insight, the ability to deploy new subscriber services and tools to optimize traffic while enhancing subscriber Internet quality of experience.
Sandvine's network policy control solutions are deployed in more than 250 networks in over 90 countries, serving hundreds of millions of data subscribers worldwide, www.sandvine.com.
For further information: INVESTOR RELATIONS CONTACT: Rick Wadsworth, Director, Corporate Communications, Sandvine, +1 519 880 2400 ext. 3503, [email protected]