Sign In
7 Jun 2012 11:54
Emblaze Ltd ("Emblaze" or "the Company")
SHARE REPURCHASE PROGRAMME
Herzeliya, Israel, 7 June 2012: Emblaze announces that on 3 June 2012 the Directors of the Company approved a share repurchase programme of the Company's shares up to a maximum consideration of US$2 million, representing approximately 3% of the Company's issued share capital. 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 / Nick Stamp / Kit Stephenson +44 20 7523 8000
Canaccord Genuity Ltd
Amlika Lal +44 20 7932 1871
Grayling Amlika.Lal@grayling.com
Hagit Gal +972 9 7699333
Company Secretary
The Emblaze Group is traded on the London Stock Exchange since 1996. www.emblaze.com
XLON
Follow the stocks
