012 Smile Communication's Board Approves $10 Million Share Repurchase Program
30 Décembre 2008 - 12:12PM
PR Newswire (US)
PETACH TIKVA, Israel, December 30 /PRNewswire-FirstCall/ -- 012
Smile.Communications Ltd. (Nasdaq and TASE: SMLC) announced that
its Board of Directors has authorized the repurchase of up to $10
million of the Company's ordinary shares (approximately NIS 38
million). The purchases will be made from time to time by the
Company, or other corporation controlled by the Company, in the
open market on the NASDAQ Global Market and the Tel Aviv Stock
Exchange. The timing and amount of any purchases will be determined
by the Company's management based on its evaluation of market
conditions and other factors. The repurchase program may be
suspended or discontinued at any time. Commenting on the repurchase
program, said, Stella Handler, CEO of 012 Smile.Communications
"This stock repurchase program, reflects our confidence in our
current operational and financial strength and prospects for the
future as well as our ongoing commitment to increasing shareholder
value." About 012 Smile.Communications 012 Smile.Communications is
a growth-oriented communication services provider in Israel with a
leading market position, offering a wide range of broadband and
traditional voice services. Its broadband services include
broadband Internet access with a suite of value-added services,
specialized data services and server hosting, as well as new
innovative services such as local telephony via voice over
broadband and a WiFi network of hotspots across Israel. Traditional
voice services include outgoing and incoming international
telephony, hubbing, roaming and signaling and calling card
services. 012 Smile.Communications services residential and
business customers, as well as Israeli cellular operators and
international communication services providers through its
integrated multipurpose network, which allows it to provide
services to almost all of the homes and businesses in Israel. 012
Smile is a 72.4 % owned subsidiary of Internet Gold Golden Lines
Ltd. (NASDAQ:IGLDNASDAQ:-NASDAQ:News) one of Israel's leading
communications groups with a major presence across all
Internet-related sectors. In addition to 012 Smile, its 100% owned
Smile.Media subsidiary manages a growing portfolio of Internet
portals and e-Commerce sites. Internet Gold and 012 Smile are part
of the Eurocom Communications Group. 012 Smile's shares trade on
the NASDAQ Global Market and on the Tel Aviv Stock Exchange.
Forward-Looking Statements This press release contains
forward-looking statements that are subject to risks and
uncertainties. Factors that could cause actual results to differ
materially from these forward-looking statements include, but are
not limited to, general business conditions in the industry,
changes in the regulatory and legal compliance environments in the
industries it is engaged, the failure to manage growth and other
risks detailed from time to time in 012 Smile communications
filings with the Securities Exchange Commission, including 012
Smile communications Annual Report on Form 20-F. These documents
contain and identify other important factors that could cause
actual results to differ materially from those contained in our
projections or forward-looking statements. Stockholders and other
readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update publicly
or revise any forward-looking statement. For further information,
please contact: For additional information about 012
Smile.Communications Ltd., please visit the Company's investors'
site at http://www.012.net/. For further information, please
contact: Ms. Idit Azulay 012 Smile.Communications Ltd
+972-72-2003848 DATASOURCE: 012 Smile.communications Ltd. CONTACT:
For further information, please contact: Ms. Idit Azulay, 012
Smile.Communications Ltd, +972-72-2003848,
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