Business
AudioCodes Receives Approval for Extension of Share Repurchase Program
LOD, Israel, Jan. 21, 2021 /PRNewswire/ -- Details AudioCodes (NASDAQ: AUDC), a leading vendor of advanced communications software, products and productivity
About this update from Audiocodes Ltd.
[{"type":"text","content":"LOD, Israel, Jan. 21, 2021 /PRNewswire/ -- \nDetails\nAudioCodes (NASDAQ: AUDC), a leading vendor of advanced communications software, products and productivity solutions for the digital workplace, today announced that it has received Israeli court approval to repurchase up to an additional $30 million (\"Permitted Amount\") of its Ordinary Shares, NIS 0.01 nominal value. The share repurchases will be funded from available working capital. The court approval also permits the Company to use any portion of the Permitted Amount to declare a dividend, instead of effecting share repurchases, during the period covered by the court approval. The approval is valid through July 19, 2021.\nAny share purchases may take place in open market transactions or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. Such purchases will be made in accordance with all applicable securities laws and regulations. For all or a portion of the authorized repurchase amount, AudioCodes may enter into a plan that is compliant with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases. The repurchase program does not require AudioCodes to acquire a specific number of shares, and may be suspended from time to time or discontinued.\nThe court approval does not commit the Company to repurchase any shares or declare any cash dividends, and there can be no assurance that the Company will decide to effect repurchases or declare cash dividends payable to its shareholders.\nFollow AudioCodes' social media channels:\nAudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, Twitter, Facebook, and YouTube.\nAbout AudioCodes\nAudioCodes Ltd. (NASDAQ: AUDC) (TASE: AUDC) is a leading vendor of advanced communications software, products and productivity solutions for the digital workplace. AudioCodes enables enterprises and service providers to build and operate all-IP voice networks for unified communications, contact centers, and hosted business services. AudioCodes offers a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.\nFor more information on AudioCodes, visit http...