KITCHENER, ON, Aug. 8, 2019 /CNW/ - Quarterhill Inc.
("Quarterhill") (TSX: QTRH) (NASDAQ: QTRH) today announced
that it is commencing an odd lot selling program (the
"Program") for registered and beneficial Quarterhill
shareholders who own 99 or fewer Quarterhill common shares
("Common Shares").
The Program will benefit Quarterhill shareholders who hold 99 or
fewer Common Shares and want to sell their Common Shares without
paying brokerage commissions, thereby avoiding fees that could
represent a material percentage of their proceeds. Additionally,
this should permit any interested shareholder who does not have a
brokerage account the ability to sell their Common Shares without
the inconvenience of opening such an account.
The Program will be open to registered and beneficial Common
Share holders who reside in Canada
or the United States and who own
99 or fewer Common Shares as of the record date of August 7, 2019. The Program will run until
September 16, 2019 unless otherwise
extended and will operate through the facilities of the Toronto
Stock Exchange (the "TSX") in compliance with the TSX's
policy relating to Odd Lot Selling and Purchase Arrangements.
Quarterhill has arranged for Computershare Investor Services
Inc. ("Computershare") to manage the Program and facilitate
the sale of the Common Shares on the TSX. Qualification details and
questions regarding the Program should be directed to Computershare
by calling toll-free at 1-800-564-6253. An
information booklet with details as to how to participate in the
Program will be mailed to eligible Quarterhill shareholders and is
available at www.quarterhill.com under the "Investors" tab.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any
jurisdiction. Quarterhill is not offering to purchase your Common
Shares; Quarterhill is not making any recommendation as it relates
to holding or selling Common Shares and is not making any
representation as to the price you may realize on the sale of your
Common Shares. Eligible Quarterhill shareholders may wish to obtain
advice from their brokers or financial advisors as to the
advisability of participating in the Program. The tax consequences
for each Quarterhill shareholder from participating in the Program
may vary. Quarterhill and Computershare make no representations
with respect to the tax consequences from participating in the
Program for any Quarterhill shareholders. Quarterhill specifically
recommends each Quarterhill shareholder to consult their respective
personal tax advisors as to the consequences to them of a sale of
their Common Shares under the Program. Participation in the Program
is entirely voluntary.
About Quarterhill
Quarterhill is focused on the
disciplined acquisition, management and growth of companies in
dedicated technology areas including, vertical market software and
solutions, intelligent industrial systems, and innovation and
licensing. Quarterhill's emphasis is on seeking out acquisition
opportunities at reasonable valuations that provide a foundation
for recurring revenues, predictable cash flows and margins,
profitable growth, intimate customer relationships and dedicated
management teams. Quarterhill is listed on the TSX and NASDAQ
under the symbol QTRH. For more information:
www.quarterhill.com.
Forward-looking Information
This news release contains
forward-looking statements and forward-looking information within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other United States and
Canadian securities laws. Forward-looking statements and
forward-looking information are based on estimates and assumptions
made by Quarterhill in light of its experience and its perception
of historical trends, current conditions, expected future
developments and the expected effects of new business strategies,
as well as other factors that Quarterhill believes are appropriate
in the circumstances. Many factors could cause Quarterhill's actual
performance or achievements to differ materially from those
expressed or implied by the forward-looking statements or
forward-looking information. Such factors include, without
limitation, the risks described in Quarterhill's February 28, 2019 annual information form for the
year ended December 31, 2018 (the
"AIF"). Copies of the AIF may be obtained at www.sedar.com
and as part of Quarterhill's Form 40-F for the year ended
December 31, 2018 filed with the U.S.
Securities and Exchange Commission and available at www.sec.com.
Quarterhill recommends that readers review and consider all of
these risk factors and notes that readers should not place undue
reliance on any of Quarterhill's forward-looking statements.
Quarterhill has no intention, and undertakes no obligation, to
update or revise any forward-looking statements or forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
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SOURCE Quarterhill Inc.