Evertz Technologies Limited Announces TSX Approval of New Normal Course Issuer Bid

Attention Business/Financial Editors:

Evertz Technologies Limited ("Evertz") (TSX:ET) announces that it has received
acceptance from the Toronto Stock Exchange ("TSX") of its Notice of Intention to
make a Normal Course Issuer Bid pursuant to the normal course issuer bid
procedures of the TSX and applicable Canadian securities laws (the "2013 NCIB").
Evertz previously purchased for cancellation 201,440 common shares pursuant to a
normal course issuer bid that expired in accordance with its terms on July 16,
2013 at prices averaging $13.18 per share. 


Pursuant to the 2013 NCIB, Evertz may purchase for cancellation during the
12-month period commencing on September 3, 2013 and ending on September 2, 2014
up to 3,700,397 or approximately 5% of its 74,009,946 common shares outstanding
as at the close of business on August 23, 2013. 


The price which Evertz will pay for any common shares purchased under the 2013
NCIB will be the market price at the time of such purchase. All purchases of
common shares by Evertz will be made through the facilities of TSX and other
eligible designated exchanges or alternative trading platforms in Canada. All
purchased shares will be cancelled. 


Other than as otherwise permitted pursuant to once-a-week block purchases in
accordance with TSX rules, Evertz may purchase up to 5,022 common shares per
day, which represents approximately 25% of Evertz's average daily trading volume
for the period beginning on February 1, 2013 and ending on July 31, 2013,
excluding purchases made by the Corporation under its previous normal course
issuer bid during such period. 


Evertz believes that its common shares currently trade in a price range that
does not adequately reflect their underlying value based on Evertz's business
and strong financial position. As a result, depending upon future price
movements and other factors, Evertz believes that its outstanding common shares
represent an attractive investment and a desirable use of a portion of its
corporate funds. 


To the knowledge of Evertz, no director, senior officer or other insider of
Evertz currently intends to sell any common shares under the 2013 NCIB. However,
sales by such persons through the facilities of the TSX or other eligible
designated exchanges and alternative trading platforms in Canada may occur if
the personal circumstances of any such person change or any such person makes a
decision unrelated to these normal course purchases. The benefits to any such
person whose shares are purchased would be the same as the benefits available to
all other holders whose shares are purchased. 


Evertz expects to enter into pre-defined automatic securities purchase plans
with its appointed purchasing broker from time to time during the course of the
2013 NCIB. 


Forward-Looking Information:

This press release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that Evertz believes, expects or anticipates will or may
occur in the future (including, without limitation, statements relating to
Evertz purchasing its common shares under the 2013 NCIB and entering into
automatic repurchase plans with its purchasing broker) constitute
forward-looking information. This forward-looking information reflects the
current expectations or beliefs of Evertz based on information currently
available to Evertz as well as certain assumptions including, without
limitation, assumptions as to the price of Evertz's common shares.
Forward-looking information is subject to a number of significant risks and
uncertainties and other factors that may cause the actual results of Evertz to
differ materially from those discussed in the forward-looking information, and
even if such actual results are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or effects on
Evertz. Factors that could cause actual results or events to differ materially
from current expectations include, but are not limited to, a significant
appreciation in the price of Evertz's common shares.


Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, Evertz disclaims
any intent or obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise. Although
Evertz believes that the assumptions inherent in the forward-looking information
are reasonable, forward-looking information is not a guarantee of future
performance and accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.


About Evertz

Evertz Technologies Limited (TSX:ET) designs, manufactures and markets video and
audio infrastructure equipment for the production, post production, broadcast
and internet protocol television ("IPTV") industry. Evertz's solutions are
purchased by content creators, broadcasters, specialty channels and television
service providers to support their increasingly complex multi-channel digital
and high definition television (HDTV) broadcast environments and by
telecommunications companies to roll-out IPTV. Evertz's products allow its
customers to generate additional revenue while reducing costs through the more
efficient signal routing, distribution, monitoring and management of content as
well as the automation of previously manual processes.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Evertz Technologies Limited
Anthony Gridley, C.A.
Chief Financial Officer
905-335-7580
905-335-5785 (FAX)
ir@evertz.com
Evertz Technologies (TSX:ET)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024