SOURCE: On Track Innovations Ltd.
ROSH PINA, ISRAEL--(Marketwired - Dec 20, 2013) - On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global leader in cashless payment solutions based on contactless transactions and near-field communication (NFC), has reported board members have purchased an additional 258,548 shares of OTI common stock in the open market since the company last reported insider transactions in a press release on November 19, 2013. These purchases were pursuant to Rule 10b5-1 plans executed in June 2013 and/or during open trading windows pursuant to OTI's insider trading policy.
OTI was advised these purchases total approximately 1,243,700 shares to date. OTI's directors will be required to report their holdings and changes in ownership of OTI securities by filing Forms 3, 4 and/or 5 beginning January 1, 2014, when OTI commences reporting as a U.S. issuer and no longer reports as a foreign private issuer.
On Track Innovations Ltd. (OTI) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems, and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.