NET INSIGHT AB: NET INSIGHT’S BOARD OF DIRECTORS HAS RESOLVED TO REPURCHASE OWN SHARES
Stockholm, Sweden –Net Insight, the leading providerin media transport and resource scheduling, todayannounced 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 program.
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 4,275,000 own B-shares (treasury shares).
For further information, please contact:
Thomas Ahlerup, Acting Head of Investor Relations, +46 760 896 63 00
Thomas Bergström, CFO of Net Insight AB, +46 8 685 06 05,
This information is information that Net Insight AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, at 8 pm CET on June 13, 2017.
About Net Insight
Net Insight's vision is to enable a live and interactive media experience for anyone on earth. Our aim is to lead progress and enable a global media marketplace where live content can be exchanged and interaction among TV audiences can take place in real-time. We want to create the media experience of the future, centered on content.
Net Insight delivers products, software and services for effective, high-quality media transport, coupled with the effective management of resources, all, which creates an enhanced TV experience. Net Insight's offerings span across the entire media spectrum, starting from TV cameras and TV studios, right through to the TV consumers. Our solutions benefit network operators, and TV and production companies, by lowering total cost of ownership, improving their workflow efficiencies and providing them with the ability to capture new business opportunities.
More than 500 world-class customers run mission critical media services using Net Insight's solutions, covering more than 60 countries worldwide. Net Insight is listed on Nasdaq Stockholm.
For more information,please visit netinsight.net
NET INSIGHT'S BOARD OF DIRECTORS HAS RESOLVED TO REPURCHASE OWN SHARES
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Source: Net Insight AB via Globenewswire