DragonWave Inc.

DragonWave Inc.

May 12, 2008 13:07 ET

DragonWave Inc: Granting of Options

RNS only

OTTAWA, CANADA--(Marketwire - May 12, 2008) - DragonWave Inc. ("DragonWave") (TSX:DWI)(AIM:DWI) a leading global supplier of next-generation wireless networks, today announced that a total of 37,968 options ("the Options") were granted on May 12, 2008 at the five day weighted average price of $5.73 per option to the following Directors of DragonWave Inc.

Ake Persson 9,492
Carl Eibl 14,238
Claude Haw 14,238

Total 37,968

The right granted to subscribe for ordinary shares is exercisable for up to 5 years from the vesting start date, all Options granted under the Plan shall vest, as to twenty-five percent (25%) of the Optioned Shares, on the one-year anniversary of the vesting start date, and thereafter, 1/36th of the remaining Optioned Shares shall vest at the end of each month, such that all Optioned Shares subject to issuance pursuant to the Option shall be vested on that date which is four (4) years after the Date of Grant. Therefore the first available date for the exercise for up to 25% of the Options granted will be May 12, 2009.

Following the grant of the above Options the company will have 1,667,918 shares under option grant.

About DragonWave

DragonWave™ is a leading provider of high-capacity wireless Ethernet equipment used in emerging IP networks. DragonWave designs, develops, and markets carrier-grade microwave radio frequency networking equipment that wirelessly transmit broadband voice, video and other data. DragonWave's wireless Ethernet products, which are based on a native Ethernet platform, function as a wireless extension to an existing fibre-optic core telecommunications network. The principal application for DragonWave's products is the backhaul function in a wireless communications network. Additional applications for DragonWave's products include point-to-point transport in private networks, including municipal and enterprise networks. DragonWave's corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe and North America. The company's Web site is http://www.dragonwaveinc.com

Contact Information

  • DragonWave Inc.
    Russell Frederick
    Chief Financial Officer
    613-599-9991 ext. 2253
    DragonWave Inc.
    Bruce Chick
    Director, Investor Relations
    613-599-9991 ext. 2517
    Canaccord Adams Limited
    Andrew Chubb
    44 20 7050 6500