This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:RIM to buy back up to $1.2-billion (U.S.) in shares 2009-11-05 12:26 ET - News Release An anonymous director reports RIM ANNOUNCES COMMON SHARE REPURCHASE PROGRAM Research in Motion Ltd. has authorized a share repurchase program to purchase for cancellation, through the facilities of the Nasdaq Stock Market, common shares having a total purchase price of up to $1.2-billion (U.S.), or approximately 21 million common shares based on current trading prices (representing approximately 3.6 per cent of the currently outstanding common shares of RIM). The share repurchase program may commence on Nov. 9, 2009, and will remain in place for up to 12 months, or until the purchases are completed, or the program is terminated by RIM. RIM has not repurchased any shares within the past 12 months. The price that RIM will pay for any shares under the share repurchase program will be the prevailing market price at the time of purchase. The share repurchase program will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contains restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of RIM's shares on Nasdaq. The remainder is available to Stockwatch subscribers.
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