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Stock Market & Financial Investment News

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November 20, 2012
18:05 EDTVELTVelti Announces purchase of stock by non-executive directors & senior management
Velti 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 $1.5M. 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.
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