Absolute Software Corporation was today named to the 2005 TSX Venture 50, the first ever ranking of Canada’s top emerging public companies listed on the TSX Venture Exchange.
“Being named to the TSX Venture 50 is testament to the strategic milestones we achieved during the past twelve months,” said John Livingston, Chairman and CEO of Absolute Software Corporation. “We continue to make important inroads toward establishing Computer Theft Recovery and Secure Asset Tracking as a standard product category in the computer security industry. This past year we signed strategic agreements with DELL, HP, IBM/Lenovo, Gateway and LoJack Corporation, expanded our sales presence in all key market verticals and successfully defended our patent portfolio against several competitors. Financial achievements in calendar 2005 included sales contract growth in excess of 50%, positive cash from operations and, a $5.5 million bought-deal financing in March of 2005.”
Mr. Livingston continued: “As a result of this activity, we have elevated our awareness within the investment community which has led to an increase in share price from $0.60 to $3.10 and a surge in average trading volume from less than 10,000 shares per day to more than 35,000 per day. We believe our success is also a reflection of efforts by the TSX Venture Exchange to improve their image, disclosures and the quality of companies they list. On December 2, 2005, we completed a successful graduation to the Toronto Stock Exchange and are grateful to the TSX Venture for providing the support necessary to bring us to this stage.”
The TSX Venture 50 are the top 10 companies in each of five major industry sectors – mining, oil & gas, technology, life science and diversified industries – based on a ranking formula with equal weighting given to one-year revenue (last reported 12 months), return on investment, market cap growth and trading volume. All data was as of August 31, 2005.
“We are very proud to launch the TSX Venture 50 to celebrate the achievements of our issuers,” said Linda Hohol, President, TSX Venture Exchange. “The impressive list of companies demonstrates that the TSX Venture Exchange is a unique incubator of public companies, and the companies in the TSX Venture 50 are living proof as to why this market is working.”
The 2005 TSX Venture 50 was compiled based on public historical data and is not an invitation to purchase securities listed on Toronto Stock Exchange and/or TSX Venture Exchange. TSX Group Inc. and its affiliates do not endorse or recommend any securities referenced in this ranking. Neither TSX Group Inc. nor its affiliated companies represent, warrant or guarantee the accuracy or the completeness of the information. You should not rely on this information contained herein for any trading, business or financial purposes. TSX Group Inc. and its affiliates assume no liability for any errors or inaccuracies herein or any use or reliance upon this information.