Business
VCom Normal Course Issuer Bid will commence November 1
VCom Normal Course Issuer Bid will commence November 1.
About this update from Vecima Networks Inc.
[{"type":"text","content":"\n\n\n\n\nVICTORIA, Oct. 30 /CNW/ - VCom Inc. (TSX: VCM), a leader in broadband\nlast mile access technology, announced today, as an update to its October 24,\n2006 disclosure, that the notice of intention filed with the Toronto Stock\nExchange (the \"TSX\") on October 23, 2006, to acquire for cancellation, by way\nof normal course issuer bid (the \"Bid\"), up to 500,000 Common Shares of the\nCorporation, which, at the date hereof, represent approximately 2.2% of the\nissued and outstanding Common Shares of the Corporation, has been approved by\nthe TSX.\nThe Bid will commence on November 1, 2006 and terminate on October 31,\n2007. The Corporation has not repurchased any of its outstanding Common Shares\nin the last 12-month period.\nThe Board of Directors of VCom believes the underlying value of the\nCorporation's Common Shares may not be reflected in the current or future\nmarket price of the Common Shares and has therefore decided to undertake the\nBid. Purchases pursuant to the Bid will be effected solely through the\nfacilities of the TSX, purchases and payment for the Common Shares will be\nmade by the Corporation in accordance with TSX requirements and the price\nwhich VCom will pay for any Common Shares acquired under the Bid will be the\nmarket price for the Common Shares at the time of acquisition.\nFor further information or to obtain a copy of the October 23, 2006\nNotice filed with the TSX in connection with the Bid, please contact Mike\nBarry, Chief Financial Officer of VCom at (250) 881-1982, ext. 134.\n\nAbout VCom\nVCom Inc. designs, manufactures and sells products that enable broadband\naccess to cable, wireless and telephony networks. VCom's hardware products\nincorporate original embedded software to meet the complex requirements of\nnext-generation, high-speed digital networks. Service providers use VCom's\nsolutions to deliver services to a converging worldwide broadband market,\nincluding what are commonly known as \"triple play\" (voice, video and data) and\n\"quadruple play\" (voice, video, data and wireless) services. VCom's solutions\nallow service providers to rapidly and cost-effectively bridge the final\nnetwork segment that connects the system directly to end users, commonly\nreferred to as \"the last mile\", by overcoming the bottleneck resulting from\ninsufficient carrying capacity in legacy, las...