DEQ believes that its common shares have traded in a price range which may not fully reflect the underlying value of such shares. As a result, depending upon future price movements and other factors, the firm believes that the purchase for cancellation of its common shares may be an attractive and appropriate use of corporate funds in light of potential benefits to remaining shareholders in these current market conditions.
“With our current cash position of over us$ 6 million, long-term recurring revenue contracts and stable operating costs, this normal course issuer bid is a sound business and financial decision to create shareholder value, ”stated Earle G. Hall, President & CEO of DEQ.
The purchases may commence on December 15, 2008 and will terminate on December 14, 2009, or on such earlier date as DEQ will have completed its purchases or otherwise decides not to proceed with other acquisitions. The purchases will be made through the facilities of the Exchange by Canaccord Capital Corporation on behalf of the company in accordance with the Exchange requirements.
DEQ will pay the market price of common shares on the Exchange at the time of purchase and no purchases of Common Shares will be made other than open-market purchases. The company has not previously repurchased any of its common shares in a normal course issuer bid. All purchased common shares will be cancelled.