Buyback plan

Patent licencer Wi-LAN Inc. is buying back WiLan.jpgup to 5% of its shares, which the company believes are undervalued. The company’s board has approved a plan to acquire the stock over a six-month period, pending regulatory consent. “Wi-LAN’s board and management believe that executing an issuer bid is an important demonstration of the confidence we have in our business and our belief that the value of Wi-LAN is not adequately reflected in its current share price,” says president and CEO Jim Skippen. At the time of the announcement, Wi-LAN’s shares had dropped by more than 37% in a month and bottomed out at $1.10 on the TSX, their lowest evaluation in a year.

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