International Datacasting Corporation

International Datacasting Corporation

December 08, 2011 08:00 ET

International Datacasting Corporation Announces Normal Course Issuer Bid

Attn: Business/High-Tech Editors

OTTAWA, ONTARIO--(Marketwire - Dec. 8, 2011) - The Board of Directors of International Datacasting Corporation (TSX:IDC) announced today that it has authorized the purchase of common shares of the company equal to up to 10% of the public float by way of a normal course issuer bid on the Toronto Stock Exchange (the "TSX") and all other acceptable market places.

The normal course issuer bid is subject to acceptance by the TSX. If approved by the TSX, purchases pursuant to the normal course issuer bid will be made through the facilities of the TSX and will be subject to the rules of the TSX, including the rules pertaining to the maximum number of shares that may be purchased in any one day. IDC will pay the market price at the time of acquisition of any common shares purchased through the facilities of the TSX. All common shares acquired by IDC under the normal course issuer bid will be cancelled.

IDC intends to pursue the normal course issuer bid because it believes that, at certain times, its common shares have traded at a range that may not reflect the underlying value of its business and its future prospects. The objective of the normal course issuer bid is to provide capital appreciation and market stability for the benefit of IDC's shareholders.

IDC has not previously engaged in a normal course issuer bid and has not purchased any of its common shares in the previous twelve months.

About International Datacasting Corporation (IDC)

International Datacasting Corporation (TSX:IDC) is a global leader in digital content distribution for the world's premiere broadcasters in radio, television and digital cinema. IDC offers a broad portfolio of advanced solutions including Pro Audio, Pro Video, Pro Cinema and Pro Data for implementing broadcast content contribution and distribution applications. IDC's solutions and IDC Systems are in demand for radio and television networks, digital cinema, 3D live events, distance learning, satellite news gathering, sport contribution, digital signage, and IPTV among others. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. IDC has installations in over 100 countries and service offices in Australia, Singapore and China with an international network of value-added partners and distributors.

Contact Information

  • International Datacasting Corporation
    Christine Rozak
    Director, Marketing and Communications