TEL AVIV, Israel, Sept. 5, 2019 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB), a global provider of Multi-Identity, IoT, Connectivity, and Cyber Security solutions for the global Public and Private Sectors, today announced that its CEO, Mr. Arie Trabelsi, has notified the Company that he has initiated a new purchase program to purchase up to 3 Million of the company's ordinary shares on the open market.
The Company CEO has also notified the Company that his previously announced program launched in 2018 program ended on August 15, 2019, and under this program he has purchased 609,000 SuperCom ordinary shares.
"As shared in recent quarterly releases, SuperCom is executing effectively against its business plan and has optimized much of its operations to support strong earnings along with increasing customer demand for our leading technology solutions, " commented Mr. Arie Trabelsi, President and CEO of SuperCom.
"I believe the SPCB current stock price levels do not reflect the high intrinsic value of the company. This program provides me the ability to opportunistically acquire SuperCom shares and underscores my ongoing belief in the Company, " Arie concluded.
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 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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