Absolute Software Announces Automatic Share Purchase Plan
Enables Normal Course Issuer Bid purchases to continue during Company’s quarterly trading blackout period
Vancouver, Canada. –Absolute® Software Corporation (“Absolute” or the “Company”) (TSX: ABT), the leading provider of firmware-based, patented, computer theft recovery, data protection and IT asset management solutions today announced that on December 19, 2008, it obtained approval from the TSX for an Automatic Share Purchase Plan (“Plan”) which will enable the Company to continue purchasing shares under its Normal Course Issuer Bid (“Bid”) during its quarterly trading blackout period.
Absolute believes that purchases under the Bid are an appropriate use of corporate funds, and accordingly, desires to continue making purchases under the Bid during its quarterly trading blackout period. In accordance with company policy, the quarterly blackout period goes into effect on December 23, 2008 and is expected to terminate on February 5, 2009 (after termination of the reporting materials). As a result, purchases under the Plan are approved to commence on December 24, 2008, with trading through a designated broker that is a participating organization of the TSX. The Plan expires on February 5, 2009, and, subject to pricing and volume restrictions imposed by the Company, to the rules and polices 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 on November 6, 2008 and enables Absolute to purchase and cancel up to 4,174,122 of its shares. By December 21, 2008, a total of 655,500 shares had been purchased under the Bid. The Bid allows for the purchase on a daily basis of up to 123,878 shares until March 31, 2009 and 61,939 shares thereafter, except where purchases are made in accordance with “block purchases” exemptions under applicable TSX policies.
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