SmartForce announces proposed share repurchase

SmartForce (soon to be SkillSoft) has announced that its Board of Directors has authorised a share repurchase programme of up to 8.0 million of the company's American Depositary Shares (ADSs).

This repurchase programme is subject to the approval of the company's shareholders, and no repurchases may be made until that approval is obtained.

The company intends to hold a special shareholders meeting in November to seek such approval.

Additionally the company announced that its Board of Directors authorised the change of the name of the company to SkillSoft. This name change is also subject to shareholder approval.