Purchased 596,000 SuperCom Ordinary Shares to Date
HERZLIYA, Israel, December 26, 2018 /PRNewswire/ --
SuperCom Ltd. (SPCB), a global provider of Multi-Identity, IoT, Connectivity, and Cyber Security solutions for the global Public and Private Sectors, today announced that SuperCom President and CEO Arie Trabelsi has notified the Company that he has expanded his personal share purchase program from 1 million to 2 million shares. To date, he has purchased 596,000 SuperCom ordinary shares in the open market through this program, and he plans to continue to purchase shares through this program.
"SuperCom is executing against its business plan, and the Company's operations and capital structure are aligned to drive strong earnings growth going forward," commented Mr. Arie Trabelsi, President and CEO of SuperCom. "I see inherent, unrealized value in the Company, well above current stock trading levels, and I plan to continue to acquire shares going forward. My belief in the Company and in its prospects remains undiminished."
Under the CEO purchase program, the CEO may purchase shares in open market transactions or through other authorized methods. The extent to which the CEO purchases SuperCom ordinary shares and the timing of such purchases is at the discretion of the CEO and will depend upon market conditions and regulatory requirements. This program does not require the purchase of any minimum number of shares.
Since 1988, SuperCom has been a leading global provider of traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secured Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers advanced, secure mobile payments ranging from mobile wallet to mobile POS, using a set of components and platforms to enable secure mobile payments and financial services. SuperCom is a global provider of a superior all-in-one field-proven RFID & mobile PureSecurity advanced solutions suite, accompanied by advanced complementary services for various industries, including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation.
SuperCom's website: http://www.supercom.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among the factors that could cause actual results, performance or achievements to differ materially from those discussed in this press release are those detailed from time-to-time in prior press releases and in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 20-F and reports on Form 6-K, The Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
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