{"id":523167,"date":"2021-08-04T10:13:34","date_gmt":"2021-08-04T14:13:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program\/"},"modified":"2021-08-04T10:13:34","modified_gmt":"2021-08-04T14:13:34","slug":"ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program\/","title":{"rendered":"Ituran Location and Control Ltd. Announces Execution of Rule 10b-15 and Rule 10b-18 for Share Repurchase Program"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>AZOUR, <span class=\"xn-location\">Israel<\/span>, <span class=\"xn-chron\">Aug. 4, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Ituran Location and Control Ltd. (NASDAQ: ITRN) (TASE: ITRN), announced today that as part of implementation of its Board of Directors decision of <span class=\"xn-money\">25 million USD<\/span> share repurchase program, which was partially executed during year 2019 (<span class=\"xn-money\">6 million USD<\/span>) and following Board of Directors decision in <span class=\"xn-chron\">July 2021<\/span> to implement the remainder of the aforementioned Board of Directors decision, its wholly owned subsidiary resolved to execute agreements pursuant to Rule <span class=\"xn-money\">10b<\/span>-5 and Rule <span class=\"xn-money\">10b<\/span>-18 to commence from <span class=\"xn-chron\">August 25<\/span><sup>th<\/sup>\u00a02021.<\/p>\n<p>Share repurchases, if any, will be funded by the wholly owned subsidiary with available cash. Repurchases of the Company&#8217;s ordinary shares will be made based on Rule10b-18 terms. Share repurchases may be suspended or discontinued at any time.<\/p>\n<p>\n        <b>Management Comment<\/b>\n      <\/p>\n<p>\n        <b>Eyal Sheratzky, Co-CEO of Ituran<\/b>\u00a0<b>said:<\/b>\u00a0&#8220;We believe that the ability to buy back our own shares, depending on market conditions, is a tool that will contribute to shareholder value over the long term.&#8221;<\/p>\n<p>\n        <i>Certain statements in this press release are &#8220;forward-looking statements&#8221; within the meaning of the Securities Act of 1933, as amended.\u00a0 These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as &#8220;expects&#8221;, &#8220;anticipates&#8221;, &#8220;intends&#8221;, &#8220;plans&#8221;, &#8220;believes&#8221;, &#8220;seeks&#8221;, &#8220;estimates&#8221; or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.<\/i>\n      <\/p>\n<p>\n        <b>About Ituran<\/b>\n      <\/p>\n<p>Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management &amp; control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in <span class=\"xn-location\">Latin America<\/span>. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the <span class=\"xn-location\">Tel-Aviv<\/span> based DRIVE startup incubator to promote the development of smart mobility technology.<\/p>\n<p>Ituran&#8217;s subscriber base has been growing significantly since the Company&#8217;s inception to approaching 2 million subscribers using its location-based services with a market leading position in <span class=\"xn-location\">Israel<\/span> and <span class=\"xn-location\">Latin America<\/span>. Established in 1995, Ituran has approximately 3,000 employees worldwide, with offices in <span class=\"xn-location\">Israel<\/span>, <span class=\"xn-location\">Brazil<\/span>, <span class=\"xn-location\">Argentina<\/span>, <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">Ecuador<\/span>, Columbia, <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">Canada<\/span> and <span class=\"xn-location\">the United States<\/span>.<\/p>\n<p>For more information, please visit Ituran&#8217;s website, at:\u00a0<u><a target=\"_blank\" href=\"http:\/\/www.ituran.com\/\" rel=\"nofollow noopener\">www.ituran.com<\/a><\/u><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt1 prnsbr1 prnsbb1 prnsbl1\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Company Contact: <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Udi Mizrahi<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u><br \/>\n                    <a target=\"_blank\" href=\"mailto:udi_m@ituran.com\" class=\"prnews_a\" rel=\"nofollow noopener\">udi_m@ituran.com<\/a><br \/>\n                  <\/u><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Deputy CEO &amp;VP Finance, Ituran<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Israel) +972 3 557 1348<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Ehud Helft<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u><br \/>\n                    <a target=\"_blank\" href=\"mailto:ituran@gkir.com\" class=\"prnews_a\" rel=\"nofollow noopener\">ituran@gkir.com<\/a><br \/>\n                  <\/u><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>GK\u00a0 Investor &amp; Public Relations<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(US) +1 646 201 9246<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LN64793&amp;sd=2021-08-04\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program-301348391.html\">https:\/\/www.prnewswire.com\/news-releases\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program-301348391.html<\/a><\/p>\n<p>SOURCE  Ituran Location and Control Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LN64793&amp;Transmission_Id=202108041010PR_NEWS_USPR_____LN64793&amp;DateId=20210804\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire AZOUR, Israel, Aug. 4, 2021 \/PRNewswire\/ &#8212;\u00a0Ituran Location and Control Ltd. (NASDAQ: ITRN) (TASE: ITRN), announced today that as part of implementation of its Board of Directors decision of 25 million USD share repurchase program, which was partially executed during year 2019 (6 million USD) and following Board of Directors decision in July 2021 to implement the remainder of the aforementioned Board of Directors decision, its wholly owned subsidiary resolved to execute agreements pursuant to Rule 10b-5 and Rule 10b-18 to commence from August 25th\u00a02021. Share repurchases, if any, will be funded by the wholly owned subsidiary with available cash. Repurchases of the Company&#8217;s ordinary shares will be made based on Rule10b-18 terms. Share repurchases may be suspended &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ituran Location and Control Ltd. Announces Execution of Rule 10b-15 and Rule 10b-18 for Share Repurchase Program&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-523167","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ituran Location and Control Ltd. Announces Execution of Rule 10b-15 and Rule 10b-18 for Share Repurchase Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ituran-location-and-control-ltd-announces-execution-of-rule-10b-15-and-rule-10b-18-for-share-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ituran Location and Control Ltd. Announces Execution of Rule 10b-15 and Rule 10b-18 for Share Repurchase Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire AZOUR, Israel, Aug. 4, 2021 \/PRNewswire\/ &#8212;\u00a0Ituran Location and Control Ltd. (NASDAQ: ITRN) (TASE: ITRN), announced today that as part of implementation of its Board of Directors decision of 25 million USD share repurchase program, which was partially executed during year 2019 (6 million USD) and following Board of Directors decision in July 2021 to implement the remainder of the aforementioned Board of Directors decision, its wholly owned subsidiary resolved to execute agreements pursuant to Rule 10b-5 and Rule 10b-18 to commence from August 25th\u00a02021. Share repurchases, if any, will be funded by the wholly owned subsidiary with available cash. Repurchases of the Company&#8217;s ordinary shares will be made based on Rule10b-18 terms. Share repurchases may be suspended &hellip; Continue reading &quot;Ituran Location and Control Ltd. 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(NASDAQ: ITRN) (TASE: ITRN), announced today that as part of implementation of its Board of Directors decision of 25 million USD share repurchase program, which was partially executed during year 2019 (6 million USD) and following Board of Directors decision in July 2021 to implement the remainder of the aforementioned Board of Directors decision, its wholly owned subsidiary resolved to execute agreements pursuant to Rule 10b-5 and Rule 10b-18 to commence from August 25th\u00a02021. Share repurchases, if any, will be funded by the wholly owned subsidiary with available cash. Repurchases of the Company&#8217;s ordinary shares will be made based on Rule10b-18 terms. Share repurchases may be suspended &hellip; Continue reading \"Ituran Location and Control Ltd. 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