SOURCE: DataWind Inc.

DataWind Inc.

January 04, 2016 09:00 ET

DataWind Insiders Establish Automatic Share Purchase Plan

MISSISSAUGA, ON--(Marketwired - Jan 4, 2016) - On December 31, 2015, insiders of DataWind Inc. (TSX: DW), a leader in the delivery of internet access in emerging markets, established an automatic share purchase plan (ASPP) with their respective brokers to acquire DataWind common shares in the open market commencing during the company's regularly scheduled blackout period effective January 1, 2016.

Founders and significant shareholders, Suneet Singh Tuli, DataWind's president, chief executive officer and director, and Raja Singh Tuli, DataWind's chief technology officer and co-chairman, will participate in the ASPP. Other members of the board of directors and senior management will participate as well. The decision to participate in the ASPP is a personal decision of the insider based on such insider's personal investment objectives.

Under the ASPP, insiders are not permitted to exercise any further discretion or influence over how, when or whether the purchase of common shares will occur. An ASPP can only be established when the insider participating in the plan is not in possession of material non-public information.

Transactions under the ASPP will be reported on SEDI in accordance with applicable Canadian securities laws.

About DataWind
DataWind is a leader in providing affordable mobile Internet connectivity in emerging markets. The company's patented, cloud-based technology reduces up to 97% the amount of data needed for web browsing, providing a broadband experience on any network -- even on legacy 2G networks that are still prevalent in developing countries. DataWind also provides economical smartphones and tablets that come bundled with one year of unlimited internet access, making it the largest tablet provider in India only behind Samsung. DataWind's unique solution offers broad social and economic benefits for the billions of people around the world for whom an Internet connection was previously out of reach. DataWind is traded on the Toronto Stock Exchange (TSX: DW). For more information visit www.datawind.com.

Forward-Looking Information
This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company and the environment in which the Company operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts, but reflect management's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations, except as prescribed by applicable securities laws.

No securities regulatory authority has either approved or disapproved the contents of this press release/media advisory.

Contact Information

  • Company Contact:
    Dan Hilton
    Chief Financial Officer
    DataWind Inc.
    +1(613) 277-3266
    Email Contact

    Investor Relations:
    Michael Koehler
    Liolios Group, Inc.
    +1(949) 574-3860
    Email Contact