Sandvine Corporation
TSX : SVC
AIM : SAND

Sandvine Corporation

March 06, 2008 08:31 ET

Sandvine's Board Approves Plan for Stock Buyback Program

WATERLOO, ONTARIO--(Marketwire - March 6, 2008) - Sandvine Corporation (TSX:SVC)(AIM:SAND) ("Sandvine") today announced that its Board of Directors has approved the adoption of an open market stock buyback program for the purchase of up to approximately 10 million common shares ("Shares") over a one-year period, expected to commence in mid-March, through a normal course issuer bid over the Toronto Stock Exchange (the "TSX"). The program is subject to obtaining requisite regulatory approvals.

"We are confident in Sandvine's opportunity and believe that the shares repurchased will enhance shareholder value in the long-term," said Dave Caputo, Sandvine's President and CEO.

The actual number of Shares purchased, the timing of purchases and the price at which the Shares are bought will depend upon future market conditions, and upon potential alternative uses for Sandvine's cash resources. Any purchases will be made by Sandvine at the prevailing market price of the Shares at the time of purchase. As at March 5th, 2008, Sandvine had 137,192,799 Shares issued and outstanding.

ABOUT SANDVINE

Sandvine's award-winning network equipment helps DSL, cable, and wireless broadband service providers characterize what is really happening on their networks, enabling polices that improve customer satisfaction, reduce operational costs and increase profitability. Sandvine's DPI-based policy solutions are both application and subscriber-aware, empowering service providers to better manage network traffic congestion, mitigate the proliferation of malicious traffic, and deliver QoS-prioritized multimedia services. With over 100 customers in more than 40 countries, Sandvine is enhancing the Internet experience for millions of broadband users worldwide.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this news release constitute forward-looking information within the meaning of securities laws.

Forward-looking information may relate to our future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.

These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

Forward looking-information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what we currently expect. These factors include changes in market and competition, governmental or regulatory developments and general economic conditions.

Contact Information

  • INVESTOR RELATIONS CONTACT
    Sandvine
    Rick Wadsworth
    (519) 880-2400 ext. 3503
    Email: rwadsworth@sandvine.com
    or
    MEDIA CONTACT
    Sandvine
    Tanieu Tan
    (519) 880-2232
    Email: ttan@sandvine.com
    or
    AIM NOMAD
    Canaccord Adams Limited
    Chris Bowman/Andrew Chubb
    + 44 020 7050 6500