Absolute Software Corporation the industry standard for persistent endpoint security and data risk management solutions, today announced that it has formally commenced its substantial issuer bid (the "Offer"), pursuant to which Absolute has offered to repurchase for cancellation up to C$50,000,000 in value of its common shares (the "Shares") from shareholders for cash. The Offer is being made by way of a "modified Dutch auction" and the Offer prices range from C$7.75 to C$9.00 per Share (in increments of C$0.25 per Share). The Offer will expire at 5:00 p.m. (Eastern time) on October 5, 2015, unless extended or withdrawn by Absolute.
The formal offer to purchase and issuer bid circular, together with the related letter of transmittal and notice of guaranteed delivery (the "Offer Documents"), containing the terms and conditions of the Offer and instructions for tendering Shares, among other things, are being mailed to shareholders and will be filed today with the applicable securities regulators and available on SEDAR at www.sedar.com.
None of Absolute or its Board of Directors makes any recommendation to shareholders as to whether to tender or refrain from tendering any or all of their Shares to the Offer or as to the purchase price or prices at which shareholders may choose to tender Shares. Shareholders are urged to read the Offer Documents carefully and in their entirety, and to consult their own financial, tax and legal advisors and to make their own decisions whether to tender or refrain from tendering their Shares to the Offer and, if so, how many Shares to tender and at what price or prices.
