AudioCodes Receives Court Approval for $15 Million Share Repurchase Program (January 2016)

AudioCodes Receives Court Approval for $15 Million Share Repurchase Program (January 2016)

Jan 04, 2016

Lod, Israel – January 4, 2016 - AudioCodes (NASDAQ: AUDC), a leading provider of converged voice solutions that enable enterprises and service providers to transition to all-IP voice networks, today announced it has received a court approval to repurchase up to an additional $15 million of its Ordinary Shares, NIS 0.01 nominal value, through May 19, 2016. The share repurchases will be funded from available working capital.

Share purchases will 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.

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