CounterPath Corporation Buyback
OLI recorded this information on 3/27/2017
Share Amount Authorized:
CounterPath Corporation ("CounterPath" or the "Company") (NASDAQ:CPAH)(TSX:PATH) announced today 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 29, 2017 and terminate on March 28, 2018, or such earlier date when the maximum number of shares are purchased. Under the NCIB, the Company may acquire up to an aggregate of 258,613 common shares over the next 12-month period, representing approximately 10% of the public float of the Company. Subject to compliance with Rule 10b-18 and other rules of the Securities Exchange Act of 1934, the Company may also purchase its common shares using the facilities of the NASDAQ, permitting the Company to make larger daily purchases than it is currently making using only the facilities of the TSX. There were 5,005,645 common shares of the Company issued and outstanding as of March 22, 2017.
CounterPath designs, develops and sells software and services that enable enterprises and telecommunication service providers to deliver Unified Communications and Collaborations solutions to their end users. Co.'s offerings include softphones that support voice/video calling, messaging, and presence from a range of call services and Voice-Over-Internet-Protocol services, as well as hosted services for team voice, messaging, presence, video conferencing and screen sharing functionality, over Internet Protocol based networks. Co.'s software products include a Software Development Kit for software developers to add voice, video and messaging capabilities to their existing applications.
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