Enables Normal Course Issuer Bid Purchases to Continue During Company Quarterly Blackout Periods Through to November 2010
Vancouver, Canada – May 4, 2010: Absolute® 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.