10/8/08 - Wi-LAN Inc. (TSX:WIN) announced that its Board of Directors has approved the adoption of a stock buyback program under which the Company expects to purchase up to 5% of its issued and outstanding common shares over a six month period following receipt of regulatory approval through a normal course issue bid over the facilities of the Toronto Stock Exchange. The stock buyback program is subject to obtaining requisite regulatory approvals including filing notice with the TSX.
"Wi-LAN's Board and Management believe that executing an issuer bid is an important demonstration of the confidence we have in our business and our belief that the value of Wi-LAN is not adequately reflected in its current share price," said Jim Skippen, President & CEO.
The actual number of Shares purchased, the timing of purchases and the price at which the Shares are bought will depend upon future market conditions and upon potential alternative uses for Wi-LAN's cash resources. Any purchases will be made by Wi-LAN at the prevailing market prices of the Shares at the time of purchase. All Shares purchased will be cancelled.
Wi-LAN, founded in 1992, is a leading technology innovation and licensing company. Our portfolio of patented inventions applies to a wide range of consumer electronics and communications products. Some of the fundamental technologies covered by Wi-LAN's patents include: CDMA, DOCSIS, DSL, GSM/EDGE, V-chip, Wi-Fi and WiMAX. Wi-LAN has a large and growing portfolio of more than 300 issued or pending patents. Wi-LAN has licensed its intellectual property to over 140 companies.
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