Sandvine Corp., a Waterloo, Ontario-based company focused on network policy control solutions that add intelligence to communications service provider networks, has proposed to cancel its shares trading on the Alternative Investment Market (AIM) of the London Stock Exchange, as of March 15, 2013. Factors contributing to the decision include low trading volumes and the cost and management resources involved in maintaining the AIM listing. Formerly backed by Canadian and US venture capital firms, Sandvine went public in 2006. The company will continue to be listed on the Toronto Stock Exchange.
Sandvine Corporation (TSX:SVC; AIM:SAND) (“Sandvine” or the “Company”) today announces that it proposes to cancel the admission to trading of its common shares on the Alternative Investment Market (“AIM”) of the London Stock Exchange (the “Cancellation”) with effect from 7:00 a.m. (GMT) on 15 March 2013 (the “Cancellation Date”). The last trading day on AIM will be 14 March 2013. The decision was based on several factors, including low trading volumes on AIM and the cost and management resources involved in maintaining the AIM listing.
Pursuant to Rule 41 of the AIM Rules, the Company has notified the London Stock Exchange of the date of the Cancellation. Sandvine will maintain its listing on the Toronto Stock Exchange (“TSX”) and shareholders wishing to trade Sandvine’s common shares after the Cancellation Date will be able to do so through that market. Shareholders should not therefore be materially prejudiced by the Cancellation.
Prior to the Cancellation Date, shareholders may continue to trade their securities on AIM. Whilst shareholders that have their shares deposited with CREST Depositary Interest (“CDI”) will not be required to move their holdings from CREST until such time as they wish to trade their CDIs or transfer them to the Canadian Depositary System (“CDS”), the Company encourages shareholders to migrate their holdings of common shares to the Canadian shareholder register. CDI holders wishing to transfer their position should contact their broker or independent professional adviser for the procedure to follow, or to contact Computershare Investor Services PLC, the Pavilions, Bridgewater Road, Bristol BS13 8AE, United Kingdom, Telephone: +44 (0) 870 702 0000, www.computershare.com, email@example.com for the procedure to follow. Public information on Sandvine can be accessed through www.sedar.com, an independent website on which all regulatory filings must be made.
Sandvine’s network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks to enable services that can increase revenue and reduce network costs. Powered by Sandvine’s Policy Engine and SandScript policy language, Sandvine’s networking equipment provides end-to-end policy control functions including traffic classification, and policy decision and enforcement across the data, control and business planes. Sandvine’s products provide actionable business insight, the ability to deploy new subscriber services and tools to optimize traffic while enhancing subscriber Internet quality of experience.
Sandvine’s network policy control solutions are deployed in more than 200 networks in over 85 countries, serving hundreds of millions of data subscribers worldwide, www.sandvine.com.
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Certain statements contained in this news release constitute forward-looking information within the meaning of securities laws.
Forward-looking information may relate to our future outlook and anticipated events or results and, in some cases, can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts.
These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.
Forward looking-information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what we currently expect. These factors include changes in market and competition, governmental or regulatory developments and general economic conditions.
SOURCE: Sandvine Incorporated
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