Published:
VUANCE Ltd. Announces Stock Purchase By Management
ROCKVILLE, Md., May 20 /PRNewswire-FirstCall/ -- VUANCE Ltd.
(Nasdaq and Euronext: VUNC), a leading provider of state-of-the-art security
solutions for viewing, tracking, locating, credentialing, and managing
essential assets and personnel, announced today that members of management
purchased shares of VUANCE in the open market using their own personal funds.
In specific, Company Chief Executive Officer and President Eyal Tuchman
purchased $15,000 worth of shares.
"Management believes that the current share price of VUANCE's stock does
not accurately reflect the Company's true growth and development over the past
year; nor does it reflect our future expectations based on these events," said
Eyal Tuchman.
"As noted in our most recent conference call, based on projects already in
our pipeline, VUANCE expects sales in 2008 to grow by over 80% compared to the
prior year," added Mr. Tuchman. "We're consistently forging closer relations
with our existing business partners, including leading system integrators and
distributors, as well as adding new ones to our team to augment our sales
channel. These established organizations appreciate our extensive range of
Active RFID, Electronic Access Control, Credentialing and Critical Situation
Management System products and our goal of providing end-users with
end-to-end, seamless solutions."
Mr. Tuchman continued, "During the past quarters, we've completed
integrating our acquisitions and built a strong, sales-focused organization to
achieve record sales. Now, we are implementing cost-control measures that will
allow us to achieve operational breakeven by the end of the year. Based on my
assessment of management's strategy and execution, and the opportunities in
front of our organization, I believe purchasing VUANCE shares in the open
market is a good investment."
About VUANCE Ltd.
VUANCE Ltd. develops and markets state-of-the-art security solutions for
viewing, tracking, locating, credentialing, and managing essential assets and
personnel. VUANCE solutions encompass electronic access control, urban
security, and critical situation management systems as well as long-range
Active RFID for public safety, commercial, and government sectors. The
Company's comprehensive range of products enables end-to-end solutions that
can be employed to successfully overcome the most difficult security
challenges. Its Critical Situation Management System (CSMS) is the industry's
most comprehensive mobile credentialing and access control system, designed to
meet the needs of Homeland Security and other public initiatives.
VUANCE Ltd. is headquartered inRockville, MD. Its common stock is listed
on the NASDAQ Capital Market and on the Euronext Exchange under the symbol
"VUNC". For more information, visit www.vuance.com.
Safe Harbor
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements are subject
to known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements. Statements preceded or followed by or that
otherwise include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", and similar expressions or future or
conditional verbs such as "will", "should", "would", "may" and "could" are
generally forward-looking in nature and not historical facts. Forward-looking
statements in this release also include statements about business and economic
trends. Investors should also consider the areas of risk described under the
heading "Forward Looking Statements" and those factors captioned as "Risk
Factors" in the Company's periodic reports under the Securities Exchange Act
of 1934, as amended, or in connection with any forward-looking statements that
may be made by the Company.
The Company also disclaims any duty to comment upon or correct information
that may be contained in reports published by the investment community.
Investor/Media Contact
Jerry Cahn, Ph.D., J.D.
Target 3 Communications
Tel: 646-290-7664
Fax: 509-278-7664
Jerry@target3.com
SOURCE VUANCE Ltd.
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Copyright © 2008, NewsBlaze,
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