Stockholm, December 10th 2001 - Net Insight´s Board of Directors today decided to issue shares in a private placement amounting to 18,750,000 SEK. The board thereby makes full use of the general meeting´s authority to increase the total share capital by way of deviation from the shareholders´ pre-emptive rights.
According to the authorization, the Board of Directors issues 3,750,000 new shares of series B to a group of investors with great knowledge of the data and telecommunications industry. The shares will be issued at a price of 5 SEK per share, implying a 7 % discount compared to the average volume-weighted closing price of the month of November.
The issue of new shares results in a dilution equivalent of approximately 6,4 % of the number of shares, and 4,3 % of the number of votes in Net Insight.
"Our progress on the market for media networks has resulted in a growing interest to invest in Net Insight. We see the approach by this group of investors as a sign of strength in the continued commercialization of this company", says Tomas Duffy, CEO, Net Insight.
For more information, please contact:
Lars Berg, Director of the Board, Net Insight AB.
Tel. + 46 8 685 04 00, e-mail: lars.berg@netinsight.net
Tomas Duffy, CEO, Net Insight AB.
Tel. + 46 8 685 04 00, e-mail: tomas.duffy@netinsight.net
Carl-Johan Blomberg, CFO, Net Insight AB.
Tel. + 46 8 685 06 20, e-mail: carl.johan.blomberg@netinsight.net
About Net Insight
Net Insight develops and markets network switches for fibre-optic broadband networks. Using Net Insight solutions, operators can offer everything from new advanced real-time services to studio-quality video, and Internet communication to traditional telephony and data. The services can be supplied across one and the same infrastructure simply and cost-effectively. Net Insight has around 140 employees in Sweden and the USA. The company is listed on the Stockholm Stock Exchange. For more information, please see www.netinsight.net