Descartes Announces Normal Course Issuer Bid For Convertible Debentures.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--Dec. 19, 2001 The Descartes Systems Group Inc. ("Descartes"), (Nasdaq:DSGX DSGX Dynamic Sound Generator Xtra (Sony) DSGX Dynamic Sound Generator Extra ), (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DSG DSG Direct Shift Gearbox (Audi) DSG Dosage DSG Deputy Secretary General DSG Dressing DSG Designate DSG Desmoglein DSG Duke Student Government (Duke University) ), a leader in providing logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet technology, announced today acceptance by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (the "TSE") of Descartes' repurchase through the facilities of the TSE, under a normal course issuer bid, from time to time over the next twelve months, if considered advisable, up to an aggregate of U.S. $7.5 million principal amount of its outstanding 5.5% convertible unsecured subordinated debentures (the "Debentures"), being 10% of the public float of the Debentures. The normal course issuer bid is limited to the Debentures. Descartes will not make any purchases of its common shares. The Board of Directors of Descartes believes that such purchases are in the best interests of Descartes and are a desirable use of corporate funds. Purchases of the Debentures may be made pursuant to this notice in the 12-month period commencing December 21, 2001. All Debentures purchased by Descartes pursuant to this notice will be cancelled. About Descartes The Descartes Systems Group Inc. (Nasdaq:DSGX) (TSE:DSG) is the leading provider of network-based logistics management technology. Known as the trusted provider of logistics solutions, the Company delivers software and network-based services that drive operational efficiency, customer responsiveness and precision for purchasing logistics services to over 5000 active manufacturers, distributors, retailers, and logistics service providers. Descartes is a global company with international customer support, 35 reseller partnerships, and offices and distributors located throughout the Americas, EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. (Europe, Middle East and Africa) and Asia-Pacific. For more information, visit www.descartes.com. All registered and unregistered trademarks mentioned in this release are the property of their respective owners. This release contains statements that may relate to the repurchase of Debentures by Descartes and other matters that may constitute forward-looking statements that involve risks and uncertainties. The Company's actual results may differ from the results discussed in the forward-looking statements as a result of factors including, but not limited to, Descartes ability to effect the repurchase, Descartes' liquidity and capital resources, the volatility of the market price of the Debentures and other factors discussed in the section entitled, "Risk Factors" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and other securities commissions across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. . |
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