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CounterPath Enters into Automatic Share Purchase Plan in Support of Existing Normal Course Issuer Bid
By: Marketwired .
Jan. 24, 2013 05:00 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- CounterPath Corporation ("CounterPath" or the "Company") (TSX:CCV)(NASDAQ:CPAH), an award-winning provider of desktop and mobile VoIP software products and solutions, announced it has entered into an automatic share purchase plan ("Plan") with its broker, National Bank Financial Inc., in order to facilitate purchases of its shares under its previously announced normal course issuer bid ("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 January 24, 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.
CounterPath believes that its strong balance sheet and operating requirements present it with the opportunity to capitalize on circumstances when the valuation of its share's in the market do not fairly represent the underlying value and potential of CounterPath's business.
CounterPath's standards based VoIP softphones are changing the face of telecommunications. The BYOD VoIP favorite, Bria softphone for mobile devices and desktop, together with the company's easy-to-use client management, provisioning and configuration server enables enterprises, service providers, and OEMs around the globe to offer a seamless and unified communications experience across both fixed and mobile networks. Standards-based, cost-effective and reliable, CounterPath's award-winning solutions power voice, video, messaging, and presence that empower customers such as Alcatel-Lucent, AT&T, Verizon, BT, Mobilkom Austria, NTT, Rogers, Avaya, BroadSoft, Cisco Systems, GENBAND, Metaswitch Networks, Mitel and NEC.
For more information about CounterPath's Bria softphone applications and CCS solutions, visit: www.counterpath.com/products.
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