Pulse Seismic Inc. press release
Pulse Data Inc. announces filing of renewal normal course issuer bid
TSX - Toronto Stock Exchange ยท Canada
TSX Symbol - PSD
CALGARY, Nov. 26 /CNW/ - Pulse Data Inc. ("Pulse" or "the Company") announces that the Toronto Stock Exchange has accepted the Company's Notice of Intention to purchase through a normal course issuer bid up to 3,945,805 common shares (representing 10% of the public float of 39,458,055 common shares). All shares purchased under the normal course issuer bid will be cancelled. The duration of the normal course issuer bid will be from November 28, 2007 through November 27, 2008.
The Company's purchase of shares during any trading day will not exceed 34,945 common shares, representing 25 percent of the average daily trading volume of the shares based on the number of shares traded during the most recently completed six calendar months preceding the filing of the Notice of Intention, and subject to Pulse's ability to make block purchases in accordance with the TSX's facilities and rules.
Pulse believes that its common shares may from time to time be undervalued.
During the preceding twelve month period, Pulse purchased 541,100 common shares under a normal course issuer bid at a weighted average price of $2.87 per share.
Pulse is a Calgary-based company specializing in seismic data acquisition, licensing and marketing. Pulse's seismic library consists of approximately 257,300 net square kilometres of 3D seismic data and more than 11,600 net kilometres of 2D seismic data.
Pulse trades on the Toronto Stock Exchange under the symbol PSD.
Disclaimer: Certain information contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Investors are encouraged to review the "Risk Factors" section of the Management's Discussion and Analysis in the Company's most recent Annual Report and interim reports for a discussion of risks that could affect the Company's operations and financial results. Forward-looking statements are based upon management's assumptions, expectations and estimates at the time that such statements are made. Pulse does not update forward-looking statements should circumstances change or management's assumptions, expectations or estimates change, unless required by law.