NASHUA, N.H., April 8, 2008 /PRNewswire-FirstCall/ -- SkillSoft PLC
(Nasdaq: SKIL), a leading SaaS provider of on-demand e-learning and
performance support solutions for global enterprises, government, education
and small- to medium-sized businesses, today announced that its shareholders
have authorized the repurchase from time-to-time by the Company and/or its
subsidiaries of up to 10 million ordinary shares (represented by American
Depositary Shares). Under Irish law, the share repurchase authorization
expires on October 7, 2009.
Although shareholders have approved the program, the purchase of shares,
if any, is, under Irish law, subject to the availability of distributable
profits in the Company or its subsidiary companies. Further, the timing and
amount of any shares repurchased will be determined by the Company based on
its evaluation of market conditions and other factors, and may be commenced or
suspended at any time or from time to time without prior notice.
"Under Irish law, the Company is required to obtain the approval of its
shareholders to buy back its own shares. The Board, believing it to be in the
best interests of the shareholders and the Company, agreed that the Company
should request this approval to provide the Company with the flexibility to
buy back shares if it determines that the benefits associated with such a
program can be realized," said Chuck Moran, President and CEO of SkillSoft.
As of March 14, 2008, SkillSoft had approximately 111.6 million ordinary
SkillSoft PLC (Nasdaq: SKIL) is a leading SaaS provider of on-demand
e-learning and performance support solutions for global enterprises,
government, education and small to medium-sized businesses. SkillSoft enables
business organizations to maximize business performance through a combination
of comprehensive e-learning content, online information resources, flexible
learning technologies and support services.
Content offerings include business, IT, desktop, compliance and
consumer/SMB courseware collections, as well as complementary content assets
such as Leadership Development Channel video products, KnowledgeCenter(TM)
portals, virtual instructor-led training services and online mentoring
services. SkillSoft's Books24x7(R) product offering includes access to more
than 18,000 digitized IT and business books, as well as book summaries and
executive reports. Technology offerings include the SkillPort(R) learning
management system, Search-and-Learn(R), SkillSoft(R) Dialogue(TM) and virtual
SkillSoft courseware content described herein is for information purposes
only and is subject to change without notice. SkillSoft has no obligation or
commitment to develop or deliver any future release, upgrade, feature,
enhancement or function described in this press release except as specifically
set forth in a written agreement.
SkillSoft, the SkillSoft logo, SkillPort, Search-and-Learn, SkillChoice,
Books24x7, ITPro, BusinessPro, OfficeEssentials, GovEssentials,
EngineeringPro, FinancePro, AnalystPerspectives, ExecSummaries,
ExecBlueprints, Express Guide and Dialogue are trademarks or registered
trademarks of SkillSoft PLC in the United States and certain other countries.
All other trademarks are the property of their respective owners, countries.
SOURCE SkillSoft PLC
/CONTACT: Tom McDonald, Chief Financial Officer of SkillSoft PLC,
+1-603-324-3000, x4232; or Investor Contacts: Michael Polyviou, or Peter
Schmidt, both of Financial Dynamics, +1-212-850-5748/
CO: SkillSoft PLC
ST: New Hampshire
IN: ITE MLM EDU CPR
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1420 04/08/2008 09:25 EDT http://www.prnewswire.com