4 Sep 2012 07:00
Emblaze Ltd ("Emblaze" or "the Company")
SHARE REPURCHASE PROGRAMME
Herzeliya, Israel, 04 September 2012: Following the release of its interim results for the period ending 30 June 2012 and the Company's subsequent exit from Closed Period, Emblaze announces that it will resume the share repurchase programme, which was previously approved by the Company's board of directors up to a maximum consideration of US$2 million. Less shares already purchased by the Company during June 2012, the remaining consideration for the share repurchase programme is approximately US$1.8 million representing approximately 2.1% of the Company's issued and outstanding share capital (not including shares held in Treasury). The repurchase programme will be undertaken in accordance with Israeli Companies Law, the FSA Listing Rules (the "Listing Rules") and the Commission Regulation (EC) No 2273/2003 (the "EC Buy-back Regulations").
Subject to market conditions, the programme will be undertaken by way of market purchases of the Company's own shares for transfer into Treasury. In accordance with the Listing Rules, the maximum price which may be paid by the Company shall be no more than the higher of (i) an amount equal to 105% of the average market closing price (as derived from the London Stock Exchange Daily Official List) for the five dealing days immediately preceding such purchase; and (ii) the amount stipulated by Article 5(1) of the EC Buy-back Regulations, exclusive of expenses.
Enquiries:
Piers Coombs / Kit Stephenson +44 20 7523 8000
Canaccord Genuity LtdHagit Gal +972 9 7699333Company Secretary
The Emblaze Group is traded on the London Stock Exchange since 1996. www.emblaze.com
XLON