Perion Network board terminates shareholders’ rights plan

The Company’s Board of Directors has approved the early termination of the rights plan adopted earlier this year; the termination is effective immediately. The rights plan was adopted to protect the interests of the Company’s shareholders after a dramatic decline in the Company’s share price. Given the significant value the Company has created to its shareholders since then and the significant increase in Perion’s implied enterprise value, the board of directors determined that the rights plan had served its purpose and was no longer necessary to protect the interests of shareholders.