Stockholm, Sweden - Net Insight, the leading provider of live, interactive and on-demand media transport, today announced that the board of directors has resolved to use the authorisation 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 authorisation 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 2,775,000 own shares (treasury shares).
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight, +46 8 685 04 00, fredrik.tumegard@netinsight.net
Thomas Bergström, CFO of Net Insight AB, +46 8 685 06 05, thomas.bergstrom@netinsight.net
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 8, 2016 at 18.00 pm CET.
About Net Insight
Net Insight's vision is to enable a live and interactive media experience for anyone on earth. Net Insight delivers media transport solutions that empower broadcasters, content owners and network service providers to activate their audiences by providing a quality-of-experience worth paying for, live and local content that's part of their world and interactive experiences they want to be part of.
The company's solutions enable live, interactive and on-demand media transport, with operational simplicity, to let customers focus on delivering the best possible experience to their audiences. Net Insight's strength lies in enabling lossless video transport at any scale, from live contribution via the Internet, to ultra-high-definition distribution in managed media networks spanning the globe.
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
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Net Insight AB via Globenewswire
Source(s) : Net Insight AB
