Stockholm, December 8, 2003 - The board of Net Insight AB (SX: NETI B), has decided, following the approval of the extraordinary general meeting, to conduct a new share issue directed at a number of institutional investors. The issue of 27.5 million class B shares will provide SEK 38.5 million.
The new share issue will significantly strengthen the company’s capital base. By showing customers, partners and other parties both a convincing financial strength and the support of strong institutional owners, the issue will enhance the company’s competitiveness, facilitate the commercialization of its products and enable a strong development of the company’s operations. Robur has subscribed for around half the new shares. Andra AP-Fonden, Banco Fonder, a number of Volvo-linked trust funds and four other Swedish institutions have subscribed for the remaining shares.
The extraordinary general meeting to approve the Board of Directors’ proposed issue is scheduled to be held on 29 December. Notification of the EGM will be published shortly.
Net Insight AB (publ)
For more information, please contact:
Tomas Duffy, CEO, Net Insight AB
Phone +46 8 685 04 00, e-mail: tomas.duffy@netinsight.net
Fredrik Trägårdh, CFO, Net Insight AB
Phone +46 685 06 01, e-mail: fredrik.tragardh@netinsight.net
About Net Insight
Net Insight develops video and data networking equipment that combines 100% QoS with maximum network utilization and multicast to provide a network with superior efficiency. Our customers benefit from significantly reduced CAPEX and OPEX, and the ability to launch new revenue generating TV and video related services. Net Insight is quoted on the Stockholm Stock Exchange´s O list and has offices in Sweden and the USA.