Aastra Technologies Limited (TSX: AAH) today announced that it has obtained regulatory approvals and intends to commence a Normal Course Issuer Bid. Pursuant to the bid, Aastra intends to purchase up to 877,551 of its Common Shares, representing approximately 4.98% of its 17,624,209 Common Shares outstanding as at end of day August 1, 2006. 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 August 9, 2006 and will terminate on August 8, 2007 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.
About Aastra Technologies Limited
Aastra Technologies Limited (TSX: "AAH"), headquartered in Concord, Ontario, Canada, develops and markets products and systems for accessing communication networks. Aastra's products include a full range of residential and business telephone terminals, Enterprise Private Branch Exchanges (PBX) and network access servers. Aastra serves the majority of telephone companies in North America and Europe, with a growing presence in South America and Asia. For more information on Aastra, visit our Web site at http://www.aastra.com.
This press release contains forward-looking information or forward-looking statements within the meaning of applicable securities legislation ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken or achieved) are not statements of historical fact, but are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Aastra, or developments in Aastra's business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements may include, but are not limited to: market price of the Common Shares make their purchase an attractive and appropriate use of Aastra's corporate funds. It is important to note that: unless otherwise indicated, forward-looking statements in this press release describe Aastra's expectations as of the date of this press release; Aastra cautions readers not to place undue reliance on the forward-looking statements in this press release as actual results may differ materially from expectations if known and unknown risks or uncertainties affect Aastra's business, or if estimates or assumptions prove inaccurate. Therefore, Aastra cannot provide any assurance that forward-looking statements will materialize and Aastra assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or other reason.
Aastra Technologies Limited