Top Image Systems’ Executive Managers Purchase TISA Shares
March 24 2016 - 9:00AM
Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of
intelligent content processing solutions, today announced that
members of the executive management team have in recent days
purchased shares and will continue to make additional
purchases of the Company’s common stock in the open market
using their own personal funds in compliance with applicable
securities regulations.
The purchase of common stock in the open market is a
reflection of the confidence that the executive management team has
in the strategy to refocus the company from being a technology
platform provider to delivering end to end solutions that
drive growth and profitability.
The strategy is designed to capitalize on the accelerated
adoption of cloud and hybrid financial process automation solutions
with shorter sales cycles, higher volumes and more predictable
recurring revenue streams while extending market coverage through
global partnerships, such as the recently announced partnership
with Xerox.
Coupled with the recently announced restructuring to take
costs out of the business, the executive management team is
committed to returning the company to profitable
growth, earning the confidence of its stakeholders and
generating sustainable customer and shareholder value.
“I deeply appreciate this expression of personal commitment and
the belief of our entire management team in the future of Top Image
Systems,” commented Michael Schrader, CEO Top Image Systems. “The
support and leadership from this team will drive the company to new
levels of success.”
About Top Image Systems
Top Image Systems™ (TIS™) is a leading innovator
of enterprise solutions for managing and validating content
entering organizations from various sources. Whether originating
from mobile, electronic, paper or other sources, TIS solutions
deliver the content to applications that drive the organization.
TIS's eFLOW is a common platform for the company's solutions. TIS
markets its platform in more than 40 countries through a multi-tier
network of distributors, system integrators, value-added resellers
as well as strategic partners. Visit the company's website
http://www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking
Statements
Certain matters discussed in this news release
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially
different from any future results expressed or implied in those
forward looking statements. Words such as "will," "expects,"
"anticipates," "estimates," and words and terms of similar
substance in connection with any discussion of future operating or
financial performance identify forward-looking statements. These
statements are based on management's current expectations or
beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially including, but not
limited to, risks in product development, approval and introduction
plans and schedules, rapid technological change, customer
acceptance of new products, the impact of competitive products and
pricing, the lengthy sales cycle, proprietary rights of TIS and its
competitors, risk of operations in Israel, government regulation,
litigation, general economic conditions and other risk factors
detailed in the Company's most recent annual report on Form 20-F
and other subsequent filings with the United States Securities and
Exchange Commission. We are under no obligation to, and expressly
disclaim any obligation to, update or alter our forward-looking
statements, whether as a result of new information, future events
or otherwise.
Company Contact:
Shelli Zargary
Director of Corporate Marketing
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President, Hayden IR
james@haydenir.com
+ 1 646 755 7412
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