Aastra Delays the Filing of its Business Acquisition ReportTORONTO, ONTARIO (July 16, 2008) -- Aastra Technologies Limited - (TSX: “AAH”) has been advised by the Ontario Securities Commission that it has been put on the list of reporting issuers in default by the Ontario Securities Commission for failing to file a Business Acquisition Report (“BAR”) on or before July 14, 2008 in connection with the completion of its acquisition of Ericsson’s Enterprise Communications Business on April 30, 2008. Aastra has been advised that it will remain on the list of reporting issuers in default until the BAR is filed.
Aastra is taking all necessary steps to file the BAR as soon as possible and expects to file the BAR in October 2008.
About Aastra Technologies Limited
Aastra Technologies Limited (TSX: “AAH”), is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications networking products, including terminals, systems, and applications. For additional information on Aastra, visit our website at http://www.aastra.com/ .
Our expectation that we will file the BAR in October 2008 constitutes a forward-looking statement within the meaning of applicable Canadian securities legislation. By their very nature, forward-looking statements involve numerous factors and assumptions, and are subject to inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts and projections will not be achieved.
We caution readers not to place undue reliance on this forward-looking statement as a number of important factors could cause our actual results to differ materially from the expectations expressed herein. The material factors that could cause our actual filing date for the BAR to differ materially from the forward-looking statement made herein include: the complexity of the carve-out of the related assets and liabilities of Ericsson’s Enterprise Communications Business from numerous Ericsson affiliates, including, but not limited to, that the acquired business is global in nature but did not comprise a stand-alone business unit within Ericsson and, as such, did not prepare its own audited financial statements; Ericsson providing reasonable access to the books and records and necessary staff of Ericsson and its affiliates in order for us to prepare the BAR; and Ericsson ensuring that its auditors provide us and our auditors with access to necessary audit papers to complete the BAR.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the forward-looking statement made herein to make decisions with respect to us, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events as further described in detail under the heading “Risk Factors” in our 2007 Annual Information Form filed on www.sedar.com .
For further information contact:
Allan Brett, CFO