Aastra Amends Its Stock Option Plan

Tue May 1, 2012 2:25pm EDT

* Reuters is not responsible for the content in this press release.

  TORONTO, ONTARIO, May 01 (MARKET WIRE) --
Aastra Technologies Limited - (TSX:AAH) ("Aastra" or the "Corporation")
announces that its Board of Directors has amended and restated the
Corporation's 2006 Stock Option Plan (the "Amended and Restated 2006
SOP"), which replaces its existing 2006 Stock Option Plan which was
originally adopted on May 23, 2006 and amended and restated on May 24,
2007.

    Aastra is amending its 2006 SOP in response to comments received from ISS
Proxy Advisory Services ("ISS"), a leading independent proxy voting
advisory and corporate governance services firm, and in order to ensure
that the Amended and Restated 2006 SOP conforms to ISS' current
guidelines for equity compensation plans. Aastra understands that in
light of the proposed amendments, ISS will be recommending to its clients
who hold shares of Aastra that they vote in favour of the resolution
reaffirming the Corporation's Amended and Restated 2006 SOP.

    As a result of the comments received from ISS, Aastra is:


1.  adding the definition of "Non-Management Director" and section 3.05
    regarding "Limits with respect to Non-Management Directors" to limit the
    number of options granted to non-management directors; 
2.  amending sections 6.02(b) and 6.02(c) to restrict the ability of Aastra
    to reduce the exercise price or extend the term of any options granted
    to non-insiders unless prior shareholder approval has been obtained
    (previously these restrictions only applied to insiders); 
3.  adding section 6.02(e) to clarify that any amendments regarding changes
    to the maximum number of Common Shares issuable to Non-Management
    Directors will require the prior approval of shareholders; and 
4.  adding section 6.02(f) to clarify that any amendments to the amending
    provisions in Section 6.02 will require the prior approval of
    shareholders. 


    The Amended and Restated SOP reflecting the amendments described above
will be filed on the website maintained by the Canadian Securities
Administrators at www.sedar.com.

    About Aastra

    Aastra Technologies Limited is a global company at the forefront of the
Enterprise Communication market. Headquartered in Concord, Ontario,
Canada, Aastra develops and delivers innovative and integrated solutions
that address the communication needs of businesses small and large around
the world. Aastra enables Enterprises to communicate and collaborate more
efficiently and effectively by offering customers a full range of open
standard IP-based and traditional communications networking products,
including terminals, systems, and applications. For additional
information on Aastra, visit our website at http://www.aastra.com.

    To view the "Black-Lined Changes to the Amended and Restated SOP" please
visit the following link:
http://media3.marketwire.com/docs/AastraTechnologiesLimited.pdf.

Contacts:
Aastra Technologies Limited
Investor Relations
905-760-4200
investors@aastra.com

Copyright 2012, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.