1 Dec 2017 07:00
1 December 2017
SimiGon Ltd
("SimiGon" or "the Company")
Share buyback programme
SimiGon Ltd (LSE: SIM), a global leader in modeling, simulation and training solutions, announces that it has today put in place an irrevocable, non-discretionary programme for the repurchase of up to USD$106,000 (approximately £79,000) of its ordinary shares (the "Programme").
The Programme will be independently managed by finnCap Ltd, the Company's nominated adviser and broker, which will make trading decisions independently and without the influence of the Company. Any ordinary shares repurchased on behalf of the Company will be held in treasury and will be notified to a Regulatory Information Service in accordance with the AIM Rules for Companies.
The Programme will last until the end of the Company's general meeting in 2018 or until the full USD$106,000 has been utilized, whichever is the soonest. The Programme will be conducted within the pre-set parameters and in accordance with the authority granted by the Company's shareholders to repurchase shares at its last general meeting held on 8 September 2017 (the "General Meeting"). Further information on the authority granted by shareholders is set out in the notice to the General Meeting, available on the Company's website www.simigon.com.
The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU.
Enquiries:
SimiGon Ltd | |
Ami Vizer, Chief Executive Officer | +1 (407) 951 5548 |
Efi Manea, Chief Financial Officer | |
finnCap (NOMAD & Broker) |
+44 (0) 207 220 0500 |
Henrik Persson/Scott Mathieson (corporate finance) | |
Stephen Norcross (corporate broking) | |
Alma PR (Public Relations) | |
Hilary Buchanan/Josh Royston/Helena Bogle | +44 (0) 208 004 4217 |
About SimiGon
SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.