Enables Normal Course Issuer Bid Purchases to Continue During Company’s Quarterly Trading Blackout Period
Vancouver, Canada: December 22, 2009 – 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 approval from the TSX for an Automatic Share Purchase Plan (“Plan”) commencing December 24, 2009, 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 at the close of business on December 22, 2009 and is expected to terminate on February 3, 2010 (after dissemination of the reporting materials). As a result, purchases under the Plan are approved to commence on December 24, 2009, with trading through a designated broker that is a participating organization of the TSX. The Plan expires at the close of business on February 3, 2010, and, subject to pre-determined 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 to commence on November 6, 2009 and enables Absolute to purchase and cancel up to 3,337,617 of its shares. Up to December 22, 2009, the company had purchased 20,475 shares under the current Bid.