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Net Insight utilizes mandate to repurchase own shares
The Board of Net Insight AB has decided to utilize the repurchase mandate that was given by the AGM on May 13, 2022, and initiate a repurchase of own shares. The repurchase program will commence on July 22, 2022, and end no later than May 12, 2023, and compromises repurchases amounting to, at most, SEK 70 million.
The shares will be bought on Nasdaq Stockholm in accordance with its Rulebook for Issuers, at a price per share within the price range on Nasdaq Stockholm at any given time, by which is meant the range between the highest buying price and the lowest selling price published continuously by Nasdaq Stockholm. At any given time, the number of own shares held by Net Insight may not exceed 10% of all shares in in the company. The purpose of the repurchases is to provide flexibility as regards the company's capital structure and possibilities to distribute capital to its shareholders.
At the time of this announcement, the number of outstanding shares in the company was 1,000,000 A shares and 388,933,009 B shares, 389,933,009 shares in total, whereof Net Insight's holding of own shares was 21,175,000 B shares. It shall be noted that a reduction of share capital is on-going, whereby the amount of B shares will be reduced by Net Insight's holding of 21,175,000 own B-shares.
For further information, please contact:
Joakim Schedvins, CFO of Net Insight AB, +46 8 685 04 00, joakim.schedvins@netinsight.net
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 as the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net
Twitter: @NetInsight, twitter.com/NetInsight
LinkedIn: @Net Insight, www.linkedin.com/company/net-insight/
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