Information  X 
Enter a valid email address

Visual Defence Inc. (VDI)

  Print      Mail a friend

Tuesday 22 November, 2005

Visual Defence Inc.

Share Buyback

Visual Defence Inc.
22 November 2005



                                                                22 November 2005


                              Visual Defence Inc.

                      ('Visual Defence' or the 'Company')

                                 Share Buyback

The Board of Visual Defence, a global leader in the delivery of
security-oriented communications and management systems over IP, today announces
that it has approved a share buyback of common shares in the Company's capital
('Common Shares').

The buyback will be conducted between the date of this announcement and 31
December 2005 in the open market and the total amount approved for the purchase
of the shares is up to £3.5 million (the 'Share Buyback Programme').

As discussed in the trading statement announced on 16 September 2005, the timing
changes in number of projects has meant that the Company no longer requires such
a large capital base as that currently available to it. The Directors,
therefore, believe it to be prudent to return capital to investors in the
Company.

The Common Shares purchased under the Share Buyback Programme will be cancelled
by the Company and it is, therefore, the Board's intention to apply to London
Stock Exchange plc for the cancellation of trading of any such Common Shares.

The Company's Chief Executive Officer, Oved Tal, has also indicated an intention
to employ an amount of up to £200,000 in purchasing Common Shares, subject to
any such shares available for purchase being first used to meet demand from the
Company under the Share Buyback Programme.

As of the date of this announcement, the number of Common Shares in issue was
82, 086,487.

                                    - ends -

For further information please contact
Visual Defence Inc.                                          ( 001) 905 731 1254
Noam Teltch, Chief Financial Officer

Weber Shandwick Square Mile                                        0207 067 0700
Nick Oborne or Susanne Walker






                      This information is provided by RNS
            The company news service from the London Stock Exchange