SuperCom Chairman Purchased a Total of 917,000 SPCB Shares in the Open Market
SuperCom Ltd. (NASDAQ: SPCB) announced that its Chairman, Arie Trabelsi, has purchased an additional 405,000 shares of SPCB, bringing his total acquisitions to 917,000 shares as part of a commitment to buy up to 3 million shares. Trabelsi expressed confidence in the company's intrinsic value, despite current stock prices not reflecting it. The share purchases are made through a program allowing discretion based on market conditions.
- Chairman Trabelsi has demonstrated confidence in SPCB by purchasing a total of 917,000 shares recently.
- The ongoing share purchase program indicates a belief in the company's long-term value.
- None.
TEL AVIV, Israel, Feb. 16, 2022 /PRNewswire/ -- SuperCom Ltd. (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IOT and Cybersecurity sectors, today announced that its Chairman of the Board, Mr. Arie Trabelsi, has notified the Company that he has recently purchased an additional 405,000 SPCB shares in the open market, on top of the 512,000 SPCB shares he purchased and announced on December 30 2021. This leads to a total of 917,000 SPCB shares purchased recently as part of his purchase program to purchase up to 3 million SPCB shares in the Open Market.
"I believe the SPCB current stock price levels do not reflect the high intrinsic value of the company. This purchase program, through which I purchased an additional 405,000 SPCB shares following the 512,000 share purchase announced in December, provides me the ability to opportunistically acquire SuperCom shares and underscores my ongoing belief in the Company," commented Mr. Arie Trabelsi, Chairman of the Board of SuperCom.
Under the Chairman purchase program, the Chairman may purchase shares in open market transactions or through other authorized methods. The extent to which the Chairman purchases SuperCom shares, and the timing of such additional purchases is at the discretion of the Chairman and will depend upon market conditions and regulatory requirements.
About SuperCom
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.
Cautionary Note Regarding Forward-Looking Statements
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 or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated effects of the COVID-19 outbreak on travel and physical locations, the levels of consumer, business and economic confidence generally, the duration of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, the effect on our supply chain, our ability to implement cost containment and business recovery strategies and resulting anticipated impact of such outbreak on our business, financial condition and results of operations; the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 30, 2021, our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we not undertake any 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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SuperCom Investor Relations:
ir@supercom.com
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SOURCE SuperCom Ltd.
FAQ
What recent share purchasing activity has occurred for SuperCom (SPCB)?
How many shares does the Chairman of SuperCom plan to purchase in total?
What is the reason behind the Chairman's recent share purchases of SPCB?
