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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 well-capitalized 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.

For further information, please contact:
Annika Muskantor, Interim CFO of Net Insight, +46 (0) 8-685 04 00, ir@netinsight.net

Rickard Dahlgren, General Counsel of Net Insight AB, +46 (0) 8-685 04 00, ir@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 the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight

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.

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Net Insight launches buyback program of SEK 50 million

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Net Insight and ACES extend their partnership for GNSS-independent infrastructure in Saudi Arabia

Net Insight and ACES extend their partnership to facilitate a GNSS-independent time synchronization infrastructure in Saudi Arabia. As part of this, ACES will invest in a pilot system to showcase GNSS-independent 5G synchronization across the kingdom. This is the first order for Net Insight's Zyntai solution in the Middle East region and will be delivered in Q2, 2024.

The Kingdom of Saudi Arabia is investing strongly in 5G networks and critical infrastructure where security and resilience are priorities and ACES have worked closely with local stakeholder to evaluate the next steps with GNSS-independence as an important component in this.

Time synchronization is a fundamental function in 5G and other critical infrastructure often delivered through GPS/GNSS satellites. However, GPS/GNSS is highly vulnerable to jamming and spoofing and Net Insight and ACES have proposed a GPS/GNSS independent solution which can effectively be deployed nationwide. The initiative is a key step in assuring a secure and resilient infrastructure, which is a strategic objective for the Kingdom of Saudi Arabia.

"Saudi Arabia is a thought leader globally when it comes to the digitalization of society, and 5G plays a big part in this evolution. It is therefore crucial to guarantee resilient 5G and other critical networks that are unaffected by GPS interference," says Dr Akram Aburas, CEO of ACES. "This makes Net Insight's solution very important for us and we look forward to the next step in our collaboration."

"Our 5G sync solution Zyntai is a cornerstone for making critical networks more resilient, by enabling them to work independently of external sync sources like GNSS/GPS," says Crister Fritzson, CEO of Net Insight. "5G networks in Saudi Arabia are among the most advanced networks in the world, and I am very pleased to see that Net Insight can contribute to making the networks in the country become even more secure."

Investor Highlights

ACES is a strong partner in the region: ACES is a strong regional partner acting both as system integrator and a neutral digital infrastructure company across the EMEA reqion.

The pilot order is small, but the joint initiative is a strategic step for Net Insight in addressing the 5G synchronization market in the region and expanding the overall market reach.

For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net

About ACES

ACES is an International Neutral Digital Infrastructure Company with the vision to diversify its portfolio and continue evolving as a Champion Neutral Host Operator, Managed Service provider, and a Full Turnkey System Integrator undertaking EPC contracts while enhancing its technical capabilities by partnering and investing in R&D and patents to promote localization and local manufacturing.

ACES is a Pioneering Saudi Company with its Global Head office in Riyadh and regional offices in the EMEA region. ACES have been an innovative firm introducing new telecom solutions and business concepts to clients, helping them achieve their strategic objectives.

For more information, please visit https://www.aces-co.com/

About Net Insight

Net Insight (Nasdaq: NETI B) offers a GNSS/GPS independent time synchronization solution for TDD 5G networks through its Precision TimeNet product that provides the highest accuracy and performance while dramatically reducing CAPEX and OPEX for MSOs and speeding up 5G roll-outs by working over existing IP/MPLS networks.

With over 25 years of experience from the professional media industry where the world's leading media providers have relied on Net insight's Emmy®-winning Nimbra solution to guarantee their media transport and to accurately synchronize TV and media services over existing IP networks independently of GNSS/GPS. Net Insight now brings this uniquely established knowledge into the future mobile networks to solve 5G TDD time synchronization independent of GNSS/GPS. Solving time synchronization in 5G and 6G TDD networks through approaching it as an open disaggregated virtualized end-to-end service provided independent of the underlying network is for Net Insight the only future proof approach.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight X: twitter.com/NetInsight

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Net Insight and ACES extend their partnership for GNSS-independent infrastructure in Saudi Arabia

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Net Insight's CEO has sold shares

Stockholm - Net Insight's CEO Crister Fritzson has sold about 5 million B shares in Net Insight AB (publ).

Net Insight's CEO, Crister Fritzson, today on May 8th, sold about 5 million B-shares in Net Insight at a price of SEK 5.14 each, corresponding to the weighted average price over the last ten trading days. Following the sale, Crister Fritzson owns about 7.2 million shares in Net Insight, remaining as one of the company's largest shareholders. The transaction was conducted outside the marketplace before the market opening, with the buyer being Net Insight's largest shareholder, Briban Invest AB.

"In connection with my taking on the role as CEO of Net Insight, I wanted to make a larger investment in the company considering the significant potential I saw and still see. This investment was partially financed through a credit that has now matured. My view on the company's potential has only grown stronger, and I have retained the majority of my ownership in Net Insight," said Crister Fritzson.

The transaction will be reported to the Swedish Financial Supervisory Authority, according to applicable regulations.

For further information, please contact:
Rickard Dahlgren, General Counsel of Net Insight, +46 8 685 04 00, rickard.dahlgren@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 the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight

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 2024-05-08 08:30 CEST.

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Net Insight's CEO has sold shares

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Bulletin from Net Insight's Annual General Meeting 2024

The Annual General Meeting in Net Insight AB (publ) was held on 7 May 2024 in Solna, Sweden. The resolutions mentioned below, among others, were passed. The board's and the nomination committee's proposals have previously been published and are available at the company's website, www.netinsight.net.

Annual report, appropriation of result and discharge from liability

The meeting resolved to adopt the income statement and balance sheet, consolidated income statement and balance sheet for 2023. It was resolved that the company's results shall be carried forward and that no dividend will be distributed. The meeting resolved to discharge the board members and the managing director from liability for 2023.

Board members and board fees

The meeting resolved on board elections in accordance with the nomination committee's proposals. Anna Söderblom was elected as Chair of the Board. Jan Barchan, Cecilia de Leeuw, Karl Thedéen and Torbjörn Wingårdh were re-elected as board members. Axel Barchan was re-elected as personal deputy for Jan Barchan.

The meeting resolved on board fees in accordance with the nomination committee´s proposals, as follows: SEK 773,000 to the Chair of the Board, SEK 283,000 to each other board member elected by the meeting, SEK 139,000 to the deputy elected by the meeting, SEK 100,000 to the Chair of the Audit Committee and SEK 50,000 to each other member of the Audit Committee, SEK 50,000 to the Chair of the Remuneration Committee and SEK 40,000 to each other member of the Remuneration Committee.

Auditor

The meeting re-elected KPMG AB as the company's auditor for the period up until the end of the annual general meeting 2025. Remuneration to the auditor will be on approved account.

The board's remuneration report

The meeting approved the board's remuneration report for 2023.

Authorization for the board to resolve to repurchase and transfer own shares

The meeting resolved to authorize the board to resolve to repurchase, on one or several occasions until the next annual general meeting, as many own shares as may be purchased without the company's holding at any time exceeding ten per cent of the total number of shares in the company. Further, the meeting resolved to authorize the board to resolve, on one or several occasions until the next annual general meeting, to transfer (sell) own shares.

The purpose of the authorization to repurchase own shares is to promote efficient capital usage in the company, to provide flexibility as regards the company's possibilities to distribute capital to its shareholders and to provide hedging for the company's long-term share-related incentive programs. The purpose of the authorization to transfer own shares is to enable the board to make corporate acquisitions, product acquisitions or enter into collaboration agreements, or to raise working capital or broaden the shareholder base or for use in the context of the company's incentive plans or to provide hedging for the company's option programs.

Reduction of share capital through cancellation of shares

The meeting resolved that the company's share capital shall be reduced by SEK 431,800 for allocation to unrestricted equity with cancellation of 10,795,000 own B shares held by the company. The execution of the decision requires permission from the Swedish Companies Registration Office (Bolagsverket).

For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net

Rickard Dahlgren, General Counsel of Net Insight AB, +46 8 685 04 00,
rickard.dahlgren@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 the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight 

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Bulletin from Net Insight's Annual General Meeting 2024

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