WiLAN Board Approves Plan for Normal Course Issuer Bid
Wi-LAN Inc. (NASDAQ: WILN) today announced that its Board of Directors has approved the adoption of a normal course issuer bid to purchase for cancellation up to 9,500,000 issued and outstanding common shares representing, together with the Shares it repurchased since December 14, 2011, approximately 10% of the 120,805,278 Shares in the public float as of November 30, 2011 through the facilities of the Toronto Stock Exchange.
The share buyback program is subject to obtaining requisite regulatory approvals including filing notice with the TSX. The NCIB is expected to commence on March 15, 2012 after WiLAN receives regulatory approval and will expire on December 13, 2012.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.