Stockholm, Sweden, June 18, 2015 – Net Insight, a leading provider of efficient and scalable transport solutions for media, IP and broadcast networks, today announced that the board of directors has resolved to use the authorization given by the annual general meeting regarding repurchases of own shares.
The repurchases will be carried out in batches over time, not longer than up to the next annual general meeting. The execution of the repurchases will depend on market conditions and the repurchases are to be made in accordance with applicable rules. Among other things, the number of shares repurchased on any given day, with the exception for any block transactions, cannot amount to more than 25 percent of the average daily volume during the four calendar weeks immediately preceding the week during which shares are repurchased.
Repurchases may only be made at a price per share within the price range applicable, i.e. the range between the highest purchase price and the lowest selling price. In line with the purposes set out in the authorization given by the annual general meeting, the repurchases are made 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 option programme.
Repurchases may be made of a maximum number of shares corresponding to five (5) percent of the total number of shares in the company, i.e. a maximum of 19,496,650 shares. As of today, Net Insight holds no own shares (treasury shares).
Net Insight AB discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on June 18, 2015 at 13.30 CET.
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight, +46 8 685 04 00, firstname.lastname@example.org
Thomas Bergström, CFO of Net Insight, +46 8 685 04 00, email@example.com
The bulletin from the annual general meeting can be found on the company’s website:
About Net Insight
Net Insight delivers the world’s most efficient and scalable transport solution for Broadcast and IP Media, Digital Terrestrial TV and IPTV/CATV networks.
Net Insight products truly deliver 100 percent Quality of Service with three times improvement in utilization of bandwidth for a converged transport infrastructure. Net Insight’s Nimbra(TM) platform is the industry solution for video, voice and data, reducing operational costs by 50 percent and enhancing competitiveness in delivery of existing and new media services.
More than 200 world class customers run mission critical video services over Net Insight products in over 60 countries. Net Insight is quoted on the NASDAQ OMX, Stockholm.
For more information, please visit www.netinsight.net