Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN), a leader in digital security, today announced that Yanki Margalit, chairman and CEO, will purchase stock on the open market each month during 2003 equal to 15% of his net salary. The 12-month purchase plan will take place irrespective of the price of the stock and subject to applicable law.
Commenting on the stock purchase plan, Margalit said, "This plan to acquire stock on the open market represents my commitment and belief in the future success of the company. I believe Aladdin offers a strong investment opportunity both now and in the future, and I can think of no better way to show my confidence in the strength of Aladdin than to continually invest in the company no matter how the stock is performing."
Margalit continued, "I believe the combined strength of our product line, the opportunity that lies ahead within the digital security industry, and the recent operating cost reduction initiatives we have undertaken, present a strong platform for continued growth and profitability for the company."
Aladdin was founded in 1985 and provides solutions for software commerce and Internet security.
Published by Globes [online] - www.globes.co.il - on December 18, 2002