Incredimail 2010 Annual Report Download - page 108

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INCREDIMAIL LTD AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Ordinary shares entitle their holders to voting rights, the right to receive cash dividend and the right to a share in
excess assets upon liquidation of the Company. On January 6, 2011 the shareholders resolved to increase the authorized
share capital of the Company to 40,000,000 ordinary shares with a nominal value of NIS 0.01 each.
In July 2008, the Company's Board of Directors authorized the repurchase of up to $3,750,000 in the open market, subject
to normal trading restrictions. During 2008 and 2009, the Company purchased 300,564 and 45,455 of its Ordinary shares
for total consideration of $882,000 and $120,000, respectively which were recorded as Treasury stock, at cost as part of
shareholders' equity.
In 2003, the Company adopted a share option plan ("the 2003 Option Plan"). Under the 2003 Option Plan, employees,
officers and non-
employees may be granted options to acquire Ordinary shares. Pursuant to the 2003 Option Plan, the
Company has reserved for issuance a total of 2,368,000 Ordinary shares. As of December 31, 2010, 108,363 options were
still available for future grant under the 2003 Option Plan. On January 20, 2011, the Company registered an additional
1,000,000 Ordinary Shares, which are reserved for offer and sale under the 2003 Israeli Share Option Plan.
Options granted under the 2003 Plan vested over three to four years from the grant date. The options expire no later than
five years from the date of grant.
NOTE 10:
-
SHAREHOLDERS' EQUITY
a.
Ordinary share:
b.
Treasury shares:
c.
Share option plans:
F
-
25