Benzinga | Dec 30, 2021 09:39AM EST

SuperCom Shares Move Higher; Chairman Buys 512K Shares As Part Of Purchase Program

SuperCom Ltd. (NASDAQ:SPCB), a global provider of Multi-Identity, IoT, Connectivity, and Cyber Security solutions for the global Public and Private Sectors, today announced that its Chairman of the Board, Mr. Arie Trabelsi, has notified the Company that he has purchased recently 512,000 SPCB shares in the open market, as part of his purchase program to purchase up to 3 million SPCB shares in the Open Market.

"I believe the SPCB current stock price levels do not reflect the high intrinsic value of the company. This recent 512,000 SPCB shares purchase, and my purchase program provides me the ability to opportunistically acquire SuperCom shares and underscores my ongoing belief in the Company," commented Mr. Arie Trabelsi, Chairman of the Board of SuperCom.

Under the Chairman purchase program, the Chairman may purchase shares in open market transactions or through other authorized methods. The extent to which the Chairman purchases SuperCom shares, and the timing of such additional purchases is at the discretion of the Chairman and will depend upon market conditions and regulatory requirements.