On April 1, 2007, the Company’s board authorized the repurchase of Ordinary Shares
of the Company for an aggregate purchase price not to exceed $10,000,000 or for
a maximum aggregate of 500,000 shares. The combined total authorization is now $20,000,000.
To date, the Company has repurchased approximately 465,000 shares.
Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems, said, "Aladdin’s
board continues to see fundamental value represented in the current share price
and the increased buy back authorization is further evidence of our commitment to
enhancing long-term shareholder value."
Purchases shall be made periodically in the open market, based on market conditions,
share price and other factors. Purchases shall be made in compliance with the applicable
provisions of Section 302 of the Israeli Companies Law, 1999, the applicable provisions
of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), and Regulation M promulgated under the Exchange Act. In accordance with the
Israeli law, shares to be purchased by the Company under the buy back program shall
not confer upon the Company any voting rights (although entitle the Company to participation
rights upon distribution). As of March 31, 2007 Aladdin had approximately 14,691,738
ordinary shares outstanding.
About Aladdin
Aladdin Knowledge Systems' Software Rights Management products are the #1 choice
of software developers and publishers to protect intellectual property, increase
revenues, and reduce losses from software piracy. Aladdin eToken is the world's
#1 USB-based authentication solution. The Aladdin eSafe secure Web gateway provides
the most advanced protection against the latest Web-based threats and attacks. Aladdin
has offices in 12 countries, a worldwide network of channel partners, and has won
numerous awards for innovation. For more information, visit the Aladdin Web site
at
www.Aladdin.com.
Safe Harbor Statement
Certain information presented herein constitutes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the company to
be materially different from any future results, performance or achievements expressed
or implied by such forward-looking statements. Such factors include general economic
and business conditions, the loss of market share, changes in the competitive landscape
and other factors over which the company has little or no control. For more information,
please refer to the Company's filings with the Securities and Exchange Commission,
which are available on the Commission's website at
www.sec.gov.
The approved share buy back plan does not obligate Aladdin to repurchase any
particular amount of ordinary shares and the Company maintains the right to suspend
or discontinue the plan at any time.
