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By Staff (SP) Toronto - Telecommunications equipment marketer, Aastra Technologies, Ltd. (TSX: AAH) thinks its stock is too cheap announcing Thursday a bid to repurchase for cancellation up to 12.2 per cent of its shares in a Dutch auction. Aastra's shares traded up 6 cents at $32.54 on the news. Since August 2006, Aastra has purchased for cancellation 757,500 common shares at prices ranging from $27.37 to $30.54. The Dutch auction tender procedure allows shareholders to select the prcie, within the specified range, at which each shareholder is willing to sell all or a portion of the common sharse he or she owns. Upon expiration of the offer, Aastra will select the lowest purchase price that will allow it to buy $62 million of shares. Shares tendered at or below the Purchase Price will be purchased at the Purchase Prcie subject to pro-ration to the extent that the aggregate cost to purchase all of such common shares exceeds $62 million.
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