The Board of Net Insight AB has decided to utilize the repurchase mandate that was given by the AGM on May 7, 2021, and initiate a repurchase of own shares. The repurchase program will commence on November 11, 2021, and run until the next AGM on May 13, 2022, and compromises a maximum of 16 million shares or SEK 70 million.
Net Insight has entered into an agreement with Nordea Bank Abp on placing an irrevocable order for the repurchase of own shares. The shares will be bought on Nasdaq Stockholm in accordance with its Rule Book 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. 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 7,150,000 B shares.
For further information, please contact:
Joakim Schedvins, CFO of Net Insight AB, +46 8 685 04 00, email@example.com
About Net Insight
Net Insight (Nasdaq: NETI B) is defining new ways to deliver media, opening up opportunities for content owners, broadcasters, production companies, service providers and enterprises to produce and deliver the future of live sport, news and online content. The company is driving the transformation to IP, virtualization and cloud workflows and has built the market’s most open and cloud-ready media delivery platform for contribution, distribution, live production, and orchestration.
For over 20 years the world’s leading media brands have trusted Net Insight and the company is recognized for having set the benchmark for media transport. Now Net Insight is combining its broadcast heritage and R&D expertise with the deep IP knowledge gained from developing its own streaming solution to evolve Nimbra, its Emmy® Award winning video transport solution, for the new media era. With a strong vision for the future of IP and cloud, Net Insight is helping the world’s leading media brands to simply and cost-effectively produce and deliver content to viewers anywhere.