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Net Insight
Transaction in Own Shares • May 29, 2024
3180_iss_2024-05-29_00a039a6-0c63-47a7-bc82-b7031c365466.pdf
Transaction in Own Shares
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Net Insight launches buyback program of SEK 50 million
The Board of Directors of Net Insight AB, with support of the mandate given at the 2024 Annual General Meeting, has decided to commence a program for the repurchase of own B shares with a value of SEK 50 million. The program will commence on June 3, 2024, and run until the next Annual General Meeting.
The purpose of the repurchases is to provide flexibility as regards the company's capital structure and possibilities to distribute capital to its shareholders.
Within the mandate from the Annual General Meeting 2024, the Board is given the opportunity, if deemed appropriate, to decide on repurchase of own shares on one or multiple occasions, in such a way that the company's holdings at any given time do not exceed 10% of all shares in the company.
In its decision on the size of the program, the board has taken into account that the company is still in an expansion phase within both product area Synchronization and Media, with establishments in new market segments and customer segments, and a high investment rate in the company's product development. It is the Board's assessment that the company is wellcapitalized to deliver on the company's strategic goals also in consideration of the buyback program.
The buybacks will be carried out by a bank that, based on the company's initial instructions, will make trading decisions regarding timing with complete independence. All buybacks will be conducted on Nasdaq Stockholm and in accordance with applicable restrictions regarding price and trading volumes. Trading will not take place during the silent period, which runs for 30 calendar days before the announcement of an interim report or a year-end report.
At the time of this announcement, the number of outstanding shares in the company is 1,000,000 A shares and 358,038,009 B shares, 359,038,009 shares in total, of which 10,795,000 B shares were in Net Insight's own custody. It can be noted that a reduction of share capital with cancellation of shares is ongoing, whereby the amount of B shares will be reduced by 10,795,000.
Net Insight AB (publ) Box 1200, SE-171 23 Solna, Sweden Visit: Smidesvägen 7, Solna Office: +46 8 685 04 00 Corp.id.no: 556533-4397. Vat.no: SE556533439701 Email: [email protected] www.netinsight.net
For further information, please contact:
Annika Muskantor, Interim CFO of Net Insight, +46 (0) 8-685 04 00, [email protected]
Rickard Dahlgren, General Counsel of Net Insight AB, +46 (0) 8-685 04 00, [email protected]
About Net Insight
Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows.
For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net
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This information is information that Net Insight is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-29 08:55 CEST.