Tundra repurchasing shares

Tundra Semiconductor Corp. is buying Tundra-logo-153X32.JPGback up to 1.7 million (10%) of its floating shares in the belief that, undervalued, they do not “[reflect] the company’s confidence in the fundamentals of Tundra’s business and opportunity.” The maker of interconnect devices for computer components is undertaking its first normal course issuer bid. “In addition to our ongoing strategic plans for investments in mergers and acquisitions, and in research and development to build organic growth,” says CEO Daniel Hoste, “we anticipate that initiating a share repurchase program at this time will be an effective use of the company's financial resources.” Tundra’s public float currently sits at 17.2 million common shares. Its issuer bid will last a year, until March 28, 2008.

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