RIM Considering Alternatives as a Result of Court Order Obtained by Certicom
Waterloo, ON – Research In Motion Limited (“RIM”) (Nasdaq: RIMM; TSX: RIM) announced that the Ontario Superior Court of Justice has issued an order enjoining the offer (the “Offer”) by RIM’s wholly-owned subsidiary for all of the common shares of Certicom Corp. (“Certicom”) (TSX: CIC) at a price of Cdn$1.50 per common share.
RIM continues to be disappointed by the actions of Certicom’s directors in pursuing court proceedings. As a result of the court order, Certicom shareholders will not be able to accept the Offer, and if another offer materializes for Certicom, RIM cannot, without Certicom’s prior written consent, participate in an auction for Certicom. RIM believes this could hinder the value maximization process undertaken by Certicom.
RIM is reviewing the court’s reasons for decision and is considering any alternatives available to it as a result of the court order, including a possible appeal.
About Research In Motion (RIM)
Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM’s portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (Nasdaq: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.rim.com or www.BlackBerry.com.
This news release contains a forward-looking statement within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws relating to RIM’s consideration of alternatives available to it as a result of the court order, including a possible appeal. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances, including its perception of the timing and benefits of a possible appeal of the court order. Certain factors could cause RIM’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statement, including, without limitation: the inherent uncertainty relating to the outcome of litigation and regulatory proceedings; and other unexpected developments relating to RIM’s proposed acquisition of Certicom that may affect the actions described in this news release or the timing of such actions. Other risk factors relating to RIM are discussed in the “Risk Factors” section of RIM’s Annual Information Form, which is included in its Annual Report on Form 40-F and RIM’s MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov), and RIM’s other public filings with the Securities and Exchange Commission and Canadian securities regulators. These factors should be considered carefully, and readers should not place undue reliance on RIM’s forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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