Tucows To Buy Back Four Million Common Shares
May 14, 2009 (FinancialWire) — Tucows Inc. (AMEX: TCX) (TSX: TC) (Current Market Cap: US$27.56 Mil.) a provider of domain names, email and other internet services, plans to launch a modified “Dutch auction” tender offer to repurchase up to four million shares of its common stock, representing around 5.8% of its outstanding shares. The tender offer is scheduled to begin on May 26, and to expire on June 23.
Under the tender offer, shareholders will have the opportunity to tender some or all of their shares at a price within an expected range of $0.36 to $0.45 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, Tucows will determine the lowest per share price within the range that will enable it to buy four million shares.
Canada-based Tucows is an internet services company that manages domain names and email boxes through a reseller network of over 9,000 web hosts and ISPs.
The company provides services designed to allow individuals and small businesses to manage their domain names and email addresses. Tucows also owns premium domain names that generate revenue through advertising or resale.
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