Absolute Announces Preliminary Results of Substantial Issuer Bid

October 21, 2015

Vancouver, Canada: October 21, 2015 Absolute® Software Corporation (TSX: ABT) the industry standard for persistent endpoint security and data risk management solutions, today announced the preliminary results of its substantial issuer bid (the “Offer”) to repurchase for cancellation up to C$50,000,000 of its common shares (the “Shares”), which expired at 5:00 p.m. (Eastern time) on October 20, 2015.

All the terms and conditions of the Offer have been complied with and, based on a preliminary count by CST Trust Company, as depositary for the Offer (the “Depositary”), Absolute expects to take up and pay for approximately 6,250,000 Shares at a purchase price of C$8.00 per Share (the “Purchase Price”).

The Shares expected to be purchased under the Offer represent approximately 14.1% of the Shares issued and outstanding prior to giving effect to the Offer. After giving effect to the Offer, the number of issued and outstanding Shares is expected to be approximately 38,075,000.

Approximately 13,466,700 Shares were properly tendered to the Offer and not withdrawn. As the Offer was oversubscribed, Absolute will purchase Deposited Shares (as defined in the Offer) on a pro rata basis following determination of the final results of the Offer, except that “odd lot” tenders (of holders beneficially owning fewer than 100 Shares) will not be subject to pro-ration. Absolute expects that tendering shareholders subject to pro-ration will have approximately 93.8% of their tendered Shares purchased by Absolute under the Offer.

The number of Shares to be purchased under the Offer, the pro-ration factor and the Purchase Price are preliminary and are subject to verification by the Depositary. Absolute expects to be able to release the final results of the Offer, including the final Purchase Price and pro-ration factor, on or about October 23, 2015.

A complete description of the Offer is contained in the offer to purchase and issuer bid circular dated August 26, 2015 and other related documents and schedules, including any amendments thereto, filed with the applicable Canadian Securities Administrators. The Offer documents are available free of charge on SEDAR at www.sedar.com.  Payment for the purchased Shares will be made by the Depositary in accordance with the Offer and applicable law. Any Shares tendered and not purchased will be returned to shareholders promptly by the Depositary.

Share this article

About Absolute Software

Absolute Software (NASDAQ: ABST) (TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by more than 18,000 customers, G2 recognized Absolute as a leader for the tenth consecutive quarter in the Summer 2022 Grid® Report for Endpoint Management and as a high performer in the G2 Grid Report for Zero Trust Networking.

©2022 Absolute Software Corporation. All rights reserved. ABSOLUTE, the ABSOLUTE logo, and NETMOTION are registered trademarks of Absolute Software Corporation or its subsidiaries. Other names or logos mentioned herein may be the trademarks of Absolute or their respective owners. The absence of the symbols ™ and ® in proximity to each trademark, or at all, herein is not a disclaimer of ownership of the related trademark.

For more information, please contact:

Media Relations
[email protected] or 858-524-9443

Investor Relations
[email protected] or 212-868-6760

Financial Services