Pulse Data Inc. announces filing of renewal normal course issuer bid

About this update from Pulse Seismic Inc.

[{"type":"text","content":"\n\n\n\nTSX Symbol - PSD\n\n\nCALGARY, Nov. 27 /CNW/ - Pulse Data Inc. ("Pulse" or "the Company")\nannounces that the Toronto Stock Exchange has accepted the Company's Notice of\nIntention to purchase through a normal course issuer bid up to 3,356,753\ncommon shares (representing 10% of the public float of 33,567,526 common\nshares). All shares will be purchased through the facilities of the TSX and\nall shares purchased under the normal course issuer bid will be cancelled. The\nduration of the normal course issuer bid will be from December 1, 2008 through\nNovember 30, 2009. As of November 14, 2008, there were 53,787,680 common\nshares issued and outstanding.\n\n\nThe Company's purchase of shares during any trading day will not exceed\n15,532 common shares (representing 25 percent of the average daily trading\nvolume of the shares based on the number of shares traded during the most\nrecently completed six calendar months preceding the filing of the Notice of\nIntention), subject to Pulse's ability to make block purchases in accordance\nwith the TSX facilities and rules, and subject to any temporary relief\nmeasures introduced by the TSX to assist issuers during the current\nextraordinary market conditions.\n\n\nPulse believes that its common shares may from time to time be\nundervalued.\n\n\nDuring the period from November 27, 2007 through November 14, 2008, Pulse\npurchased 1,984,000 common shares under a normal course issuer bid at a\nweighted average price of $2.54 per share.\n\n\nPulse is a market leader in the acquisition, marketing and licensing of\n2D and 3D seismic data to the western Canadian energy sector. Pulse owns the\nsecond-largest licensable seismic data library in Canada, currently consisting\nof approximately 257,300 net kilometres of 2D seismic and 12,000 net square\nkilometres of 3D seismic. The library extensively covers the Western Canada\nSedimentary Basin where most of Canada's oil and natural gas exploration and\ndevelopment occurs.\n\n\nPulse has publicly traded on the TSX since 2001. The Company has paid its\nshareholders a quarterly dividend since 2003 and at Pulse's current share\nprice provides one of the highest dividend yields on the TSX.\n\n\n","length":2277,"tagName":"div"}]

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