Net Insight AB has repurchased a total of 10,693,000 of its own Series B shares for a total amount of SEK 50 million during the period June 7, 2023 to February 28, 2024 under the buyback program decided by the Board in accordance with the mandate given by the Annual General Meeting on May 12, 2023. The buyback program is thereby concluded.
The buyback program was announced on June 2, 2023, and included repurchases of up to SEK 50 million. The purpose of the repurchases is to provide flexibility regarding the company's capital structure and to enable the company to distribute capital to its shareholders.
Nordea Bank Abp has been engaged to execute the buyback program. Nordea Bank has decided on the repurchases and their timing based on irrevocable instructions and with complete independence.
At the time of this press release, the number of outstanding shares in the company amounted to 1,000,000 A-shares and 358,038,009 B-shares, totaling 359,038,009 shares. Net Insight AB's holding of own shares amounts to 10,795,000 B-shares as of February 28, 2024.
For further information, please contact:
Joakim Schedvins, CFO, +46 8 685 04 00, joakim.schedvins@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
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