Research In Motion Limited today announced that RIMâ€™sBoard of Directors approved the repurchase by RIM, from time to time, on the NASDAQ National Market, of up to an aggregate of 9,500,000 common shares over the next 12 months. This represents approximately 5% of RIM shares outstanding.
RIM currently has 191,113,317 issued and outstanding common shares. Purchases may commence on October 17, 2005.
The Board of Directors of RIM believes that the proposed purchases are in the best interests of the Company and its shareholders and are a desirable use of corporate funds. All common shares purchased by RIM will be cancelled.