Velti Announces Purchase of Shares by Non-Executive Directors and Senior
SAN FRANCISCO, Nov. 20, 2012 (GLOBE NEWSWIRE) -- Velti plc (Nasdaq:VELT), the
leading global provider of mobile marketing and advertising technology and
solutions today announced that certain members of it board of directors,
including the CEO and the COO, have purchased ordinary shares of the Company
on the open market, at an aggregate value of over $1.5 million.
Velti also announced that Mr. Wilson Cheung and Ms. Sally Rau, Chief Financial
Officer and Chief Administrative Officer and General Counsel of Velti,
respectively, have filed notifications to sell ordinary shares of Velti in
aggregate value of approximately $65,000 upon vesting of deferred share awards
to cover the tax liability arising upon the vesting of such shares, and Mr.
Menelaos Scouloudis, Chief Commercial Officer, has filed notification to sell
ordinary shares of Velti in aggregate value of approximately $836,000. Mr.
Scouloudis receives all of his compensation in Velti deferred shares. Mr.
Cheung and Ms. Rau, each of whom receives a significant portion of their
compensation in Velti deferred share awards, will continue to sell Velti
ordinary shares as needed to cover the tax liability arising upon vesting of
such awards. Each expects to adopt a prearranged trading plan in accordance
with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of
1934 and the Company's policies to cover the tax liability accruing upon the
vesting of such shares.
The Company notes that purchases and sales of shares by its executive officers
and non-executive directors are not reported on Form 4 filed with the
Securities and Exchange Commission, as are such transactions by domestic
issuers, due to Velti's status as a foreign private issuer. The Company does
not expect to issue future press releases upon trading actions by its
insiders. Expected sales by such insiders will be reported quarterly on Form
144 filed with the SEC.
Velti is a leading global provider of mobile marketing and advertising
technology and solutions that enable brands, advertising agencies, mobile
operators and media to implement highly targeted, interactive and measurable
campaigns by communicating with and engaging consumers via their mobile
devices. The Velti platform, called Velti mGage™, allows customers to use
mobile and traditional media to reach targeted consumers, engage the consumer
through the mobile Internet and applications, convert them into customers and
continue to actively manage the relationship through the mobile channel. Velti
is a publicly-held corporation based in Jersey, and trades on the NASDAQ
Global Select Market under the symbol VELT. For more information, visit
The Velti logo is available at
CONTACT: For further information, please contact:
Wilson W. Cheung
Chief Financial Officer
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