WATERLOO, ON, May 2 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing, announced today that its Board of Directors has approved a normal course issuer bid for the purchase of up to 1,074,391 common shares, representing approximately 5 per cent of the issued and outstanding common shares as of May 1, 2008. Subject to regulatory approval, the Company proposes to purchase the shares during the 12 month period commencing two trading days following the date of acceptance by the TSX of the Company's notice of intention to make a normal course issuer bid. All purchases will be made through the facilities of the TSX at prevailing market prices in accordance with regulatory requirements. RDM will cancel any common shares purchased pursuant to the normal course issuer bid.
RDM's Board of Directors believes the Company's common shares are currently an attractive investment and that normal course purchases at recent market prices represent an attractive investment and a desirable use of its available funds. As at May 1, 2008, the Company had 21,487,826 issued and outstanding common shares.
About RDM Corporation RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/. DATASOURCE: RDM Corporation CONTACT: Douglas Newman, President & CEO, RDM Corporation, (519) 746-8483, (519) 746-3317 fax, ; James Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483, (519) 746-3317 fax,
|