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CounterPath Corp Announces Renewal of Normal Course Issuer Bid


Thursday, 14 Mar 2013 08:31pm EDT 

CounterPath Corp announced that the Toronto Stock Exchange (TSX) has accepted its Notice of an Intention to Make a Normal Course Issuer Bid (NCIB) which shall commence on March 19, 2013 and terminate on March 18, 2014, or such earlier date when the maximum number of shares are purchased. Under the NCIB, the Company may acquire up to an aggregate of 2,462,365 common shares over the next 12-month period representing approximately 10% of the public float of the Company. There were 41,898,579 common shares of the Company issued and outstanding as of March 11, 2013. CounterPath also announces that it has entered into an automatic share purchase plan (the Plan) with its broker, National Bank Financial Inc., in order to facilitate purchases of its common shares under the NCIB. Under the Plan, the broker may purchase shares on CounterPath's behalf under the NCIB at times when CounterPath would ordinarily not be permitted to purchase shares due to internal trading blackout periods, insider trading rules or otherwise. The Plan has been approved by the TSX and will be implemented as of March 19, 2013. Purchases will be made by CounterPath's broker on the open market based upon the parameters prescribed by the TSX, applicable laws and the terms and conditions of the Plan. 

Company Quote

0.7782
0.0283 +3.77%
23 Jan 2015