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TORONTO, ONTARIO--(Marketwire - Nov. 1, 2012) - Aastra Technologies Limited - (TSX:AAH) today announced that it has obtained regulatory approval and intends to commence a Normal Course Issuer Bid. Pursuant to the bid, Aastra intends to purchase up to 576,000 of its Common Shares, representing approximately 4.9% of its 11,529,114 Common Shares outstanding as at end of day on October 31, 2012. Daily repurchases will be limited to 2,311 Common Shares (representing 25% of the average daily trading volume for the six months prior to the commencement of the bid which is 9,246 Common Shares), other than block purchase exemptions. Aastra's management believes that the market price of its Common Shares is such that their purchase is an attractive and appropriate use of its corporate funds. |
