Aastra Announces Commencement of Normal Course Issuer Bid

Thu Nov 1, 2012 11:44am EDT

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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.

    The purchases may commence on November 5, 2012 and will terminate on
November 4, 2013 or on such earlier date as Aastra may complete its
purchase pursuant to the Notice of Intention to Make a Normal Course
Issuer Bid filed with the Toronto Stock Exchange ("TSX") or otherwise
terminates its bid. Purchases will be made on the open market by Aastra
through the facilities of the TSX in accordance with its rules and
policies. The price which Aastra will pay for any such shares will be the
market price of such shares at the time of acquisition. The shares
purchased pursuant to the normal course issuer bid will be cancelled. 

    Aastra believes that the current market price of its Common Shares makes
their purchase an attractive and appropriate use of corporate funds, in
light of potential benefits to remaining shareholders.

    In the past 12 months, Aastra had regulatory approval for its Normal
Course Issuer Bid which commenced on November 3, 2012 and shall expire on
November 2, 2012 (the "2011 NCIB"), and has purchased a total of 384,958
of its Common Shares at the weighted average price per Common Shares of
$16.4688. Under its Substantial Issuer Bid announced on February 22, 2012
and expired on April 10, 2012, Aastra purchased a total of 2,173,913 of
its Common Shares at the price of $23.00 per Common Share.

    About Aastra Technologies Limited 

    Aastra Technologies Limited (TSX:AAH), 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 more information on Aastra, visit our website at

    From time to time, we make written or oral forward-looking statement
within the meaning of applicable Canadian securities legislation. We may
make such statements in this press release, in other filings with
Canadian regulators, in reports to shareholders or in other
communications. These forward-looking statements include, among others,
statements with respect to our intention to purchase up to 576,000 of our
Common Shares pursuant to the Notice of Intention to Make a Normal Course
Issuer Bid filed with the Toronto Stock Exchange. By their very nature,
forward-looking statements involve numerous factors and assumptions, and
are subject to inherent risks and uncertainties, both general and
specific, which give rise to the possibility that predictions, forecasts,
projections and other forward-looking statements will not be achieved.
Please refer to Aastra's filings on the website maintained by the
Canadian Securities Administrators at www.sedar.com, including its Annual
Information Form and its quarterly and annual Management Discussion and
Analysis of Financial Condition and Results of Operations. We caution
readers not to place undue reliance on these statements as our actual
results may differ materially from our expectations if known and unknown
risks or uncertainties affect our business, or if our estimates or
assumptions prove inaccurate. Therefore, we cannot provide any assurance
that forward-looking statements will materialize. Unless otherwise
required pursuant to applicable Canadian securities legislation, we
assume no obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or any other

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