OTI Starts to Repurchase Ordinary Shares as Part of Its Repurchase Program

The share repurchase is the implementation of the program authorized by OTI's Board of Directors and approved by the Israeli District court to repurchase ordinary shares in a total amount of up to $2 million. As reported previously, OTI is not obligated to acquire any specific number of shares, and the program may be suspended or discontinued at any time. 

About OTI

Established in 1990, OTI designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking and loyalty programs. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost &  Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.