Radware Announces $20 Million Share Repurchase Plan in Addition to The Previous Plan
March 20 2020 - 07:36AM
Radware® (NASDAQ: RDWR), a leading provider of cyber security and
application delivery solutions, today announced that its board of
directors has authorized a new $20 million share repurchase plan
that is exceptional and in addition to the previously announced $40
million share repurchase plan.
The share repurchase plan authorizes management to
repurchase ordinary shares, from time to time, in open market
transactions, in privately negotiated transactions or in other
legally permissible ways depending on market conditions, share
price, trading volume and other factors. Such repurchases will be
made in accordance with applicable U.S. securities laws and
regulations, including Rule 10b-18 under the U.S. Securities
Exchange Act of 1934, as amended (the “Exchange Act”). The Company
may repurchase all or a portion of the authorized repurchase amount
pursuant to a plan that is compliant with Rule 10b5-1 of the
Exchange Act that is designed to facilitate these purchases. The
share repurchase plan does not obligate the Company to repurchase
any specific number of shares and may be suspended or terminated at
any time at management’s discretion.
Safe Harbor Statement
This press release includes “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements made herein that are not
statements of historical fact, including statements about Radware’s
plans, outlook, beliefs or opinions, are forward-looking
statements. Generally, forward-looking statements may be identified
by words such as “believes,” “expects,” “anticipates,” “intends,”
“estimates,” “plans,” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could.” Because such statements deal with future events, they are
subject to various risks and uncertainties, and actual results,
expressed or implied by such forward-looking statements, could
differ materially from Radware’s current forecasts and estimates.
Factors that could cause or contribute to such differences include,
but are not limited to: the impact of economic and political
uncertainties and weaknesses in various regions of the world,
including the commencement or escalation of hostilities or acts of
terrorism and natural disasters and public health crises, such as
the impact of the recent coronavirus outbreak; volatility of
the market for our products; changes in the competitive landscape;
inability to realize our investment objectives; timely availability
and customer acceptance of our new and existing products; risks and
uncertainties relating to acquisitions or other investments;
intense competition in the market for Application Delivery and
Network Security solutions and in our industry in general; changes
in government regulation; outages, interruptions or delays in
hosting services or our internal network system; compliance with
open source and third party licenses; the risk that our intangible
assets or goodwill may become impaired; our dependence on
independent distributors to sell our products; long sales cycles
for our solutions; changes in foreign currency exchange rates;
undetected defects or errors in our products or a failure of our
products to protect against malicious attacks; the availability of
components and manufacturing capacity; the ability of vendors to
provide our hardware platforms and components for our main
accessories; our ability to protect our proprietary technology;
intellectual property infringement claims made by third parties;
changes in tax laws; our ability to attract, train and retain
highly qualified personnel; and other factors and risks over which
we may have little or no control. This list is intended to identify
only certain of the principal factors that could cause actual
results to differ. For a more detailed description of the risks and
uncertainties affecting Radware, refer to Radware’s Annual Report
on Form 20-F, filed with the Securities and Exchange Commission
(SEC) and the other risk factors discussed from time to time by
Radware in reports filed with, or furnished to, the SEC.
Forward-looking statements speak only as of the date on which they
are made and, except as required by applicable law, Radware
undertakes no commitment to revise or update any forward-looking
statement in order to reflect events or circumstances after the
date any such statement is made. Radware’s public filings are
available from the SEC’s website at www.sec.gov or may be obtained
on Radware’s website at www.radware.com
About Radware
Radware® (NASDAQ: RDWR), is a global leader of
cyber security and application delivery solutions for physical,
cloud, and software defined data centers. Its award-winning
solutions portfolio secures the digital experience by providing
infrastructure, application, and corporate IT protection and
availability services to enterprises globally. Radware’s solutions
empower more than 12,500 enterprise and carrier customers worldwide
to adapt to market challenges quickly, maintain business continuity
and achieve maximum productivity while keeping costs down. For more
information, please visit www.radware.com.
©2020 Radware Ltd. All rights reserved. Any Radware
products and solutions mentioned in this press release are
protected by trademarks, patents and pending patent applications of
Radware in the U.S. and other countries. For more details please
see: https://www.radware.com/LegalNotice/. All other trademarks and
names are property of their respective owners.
CONTACTS
Investor Relations:Anat Earon-Heilborn+972
723917548ir@radware.com
Media Contacts:Deborah
SzajngartenRadware201-785-3206deborah.szajngarten@radware.com
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