Sierra Wireless enters into automatic share purchase plan
Sierra Wireless announced that, in connection with its previously announced normal course issuer bid to purchase for cancellation up to 3,149,199 of its common shares, it entered into an automatic share purchase plan with a designated broker to allow for the purchase of common shares under the NCIB at times when the company would ordinarily not be permitted to purchase shares due to regulatory restrictions. The APP has been pre-cleared by the TSX and will be implemented effective November 30. The first purchases under the APP may commence on January 2, 2017. The NCIB commenced on February 9, 2016, and will terminate no later than February 8, 2017. All repurchases made under the APP will be included in computing the number of common shares purchased under the NCIB. As of November 30, the company has repurchased a total of 809,872 common shares under the NCIB.