Valor Computerized Systems Ltd.
Valor Pursues Capital Reduction
Valor Computerized Systems Ltd. / Capital Reorganisation Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Yavne, Israel - March 17, 2009 - Valor Computerized Systems [Prime Standard: VCR, WKN 928731], a global provider of productivity-enhancing software solutions for the electronics industry, announces today that its board of directors has decided to approve that the company, subject to the approval of the court of an additional petition to be submitted, further reduces its capital in a total amount of up to US$ 10 million ('Capital Reduction'). Once the Capital Reduction is approved by the court and no later than December 31, 2009, the Company may use the Capital Reduction's amount to: (a) Buy Back some more of its shares for a price not exceeding US$ 1.6 per share (or any other price per share to be later determined by the Board) ('Buy- Back' and 'Purchased Shares', respectively); and/or (b) Distribute dividends to the Company's shareholders. For the removal of any doubt, the above mentioned US$ 10 million is in addition to the previous amounts designated for 'buy backs' of the Company's shares. Without derogating of the generality of the above the Buy Back shall be done / executed only as long as the Company has an accumulative positive cash flow in accordance with its then last four quarters reports. Dividend Distribution Policy ('DDP') The board of directors has also decided to approve that the company adopt a DDP according to which it intend to distribute, according to its discretion and at least one in each calendar year, 50-100% of the Company's than current net distributable profits. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Valor Valor is a global provider of productivity improvement software solutions for the printed circuit board, or PCB, manufacturing supply chain. PCBs are the principal electronic interconnect technology used in the vast majority of electronic products sold today. Valor's solutions target three key segments in the PCB manufacturing market: design of the physical layout of the PCB, fabrication of the bare PCB, and assembly of PCB components. For further information, please contact: Valor Corporate Alon Erlich alon.erlich@valor.com Tel: +972-(0)8-943-2430 Risks Regarding Forward Looking Statements Certain statements included herein are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include statements regarding the size and timing of the proposed offering. These forward-looking statements are only predictions based on our current expectations and projections about future events. Many factors, including those indicated in the press release, as well as general market conditions, could impact the realization of these forward-looking statements. Valor wishes to caution prospective investors not to rely on any such forward-looking statements as predictions of future events. Valor does not undertake, and specifically disclaims any obligation, to update any forward-looking statements, which speak only as of the date made. For additional information, see our website at: www.valor.com/fls 17.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Valor Computerized Systems Ltd. 4 Faran Street 70600 Yavne Israel Phone: +972-(0)3 - 9432430 Fax: +972-(0)3 - 9432429 E-mail: IR@valor.com Internet: www.valor.com ISIN: IL0010845324 WKN: 928731 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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