TEL AVIV, Israel, Dec. 30, 2021 /PRNewswire/ — SuperCom Ltd. (NASDAQ: SPCB), a global provider of Multi-Identity, IoT, Connectivity, and Cyber Security solutions for the global Public and Private Sectors, today announced that its Chairman of the Board, Mr. Arie Trabelsi, has notified the Company that he has purchased recently 512,000 SPCB shares in the open market, 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 recent 512,000 SPCB shares purchase, and my purchase program 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.
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
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. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated impact of the COVID-19 outbreak on travel and physical locations and the anticipated impact of such outbreak on our business and results of operations. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These risks and uncertainties include, but are not limited to, the effects of the COVID-19 outbreak, including 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 the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, risks and uncertainties described under the heading “Forward Looking Statements” in any report and the risk factors described in our Annual Report on Form 20-F for the year ended December 31, 2020 and our subsequent filings with the U.S. Securities and Exchange Commission and reports on Form 6-K are uncertain. 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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SOURCE SuperCom Ltd