Tucows Announces Commencement of Dutch Auction Tender Offer to
Repurchase up to 2.9 Million Common Shares
TORONTO— September 17, 2010 —Tucows Inc. (NYSE AMEX:TCX, TSX:TC) a global provider of
domain names, email and other Internet services, announced today that it is commencing a modified “Dutch
auction” tender offer to repurchase up to 2,900,000 shares of its common stock, representing approximately
5.1% of Tucows’ outstanding shares. The closing price of Tucows common stock on the NYSE Amex on
September 16, 2010 was $0.67.
Under the tender offer, shareholders will have the opportunity to tender some or all of their shares at a price
within the range of $0.61 to $0.70 per share. Based on the number of shares tendered and the prices specified
by the tendering shareholders, Tucows will determine the lowest per share price within the range that will enable it
to buy 2,900,000 shares, or such lesser number of shares that are properly tendered. If shareholders of more
than 2,900,000 shares properly tender their shares at or below the determined price per share, Tucows will
purchase shares tendered by such shareholders, at the determined price per share, on a pro rata basis.
Additionally, if more than 2,900,000 shares are properly tendered, the number of shares to be repurchased by
Tucows pursuant to the tender offer may, at the discretion of Tucows, be increased by up to 2% of Tucows’
outstanding shares, or approximately 1,147,000 shares, without amending or extending the tender offer.
Shareholders whose shares are purchased in the offer will be paid the determined purchase price per share net in
cash, without interest, after the expiration of the offer period. The offer is not contingent upon any minimum
number of shares being tendered. The offer is subject to a number of other terms and conditions specified in the
offer to purchase that is being distributed to shareholders. The offer will expire at 5:00 P.M., New York City
Time, on Tuesday, October 19, 2