Stockholm, Sweden - The following decisions were passed at the Annual General Meeting (the "AGM") in Net Insight AB on 10 May 2016. The board of directors' complete proposals has previously been published and is available at the company's website, www.netinsight.net
Approval of the annual report, appropriation of result and discharge from liability
The AGM decided to adopt the income statement and balance sheet, consolidated income statement and balance sheet for 2015. Furthermore, it was decided that the company's results shall be carried forward and thus no dividend will be distributed. The AGM decided to discharge the board members and the managing director from liability.
Number of board members and auditors, election of board members and auditors and fees to the board members and auditors
The AGM decided that the number of board members, appointed by the shareholders' meeting, should be seven without deputies. Lars Berg, Gunilla Fransson, Anders Harrysson, Cecilia Beck-Friis, Crister Fritzson and Jan Barchan were re-elected and Charlotta Falvin was elected members of the board. Lars Berg was re-elected chairman of the board.
The AGM decided that the number of auditors shall be one without deputies. PricewaterhouseCoopers AB was re-elected as the company's auditor with Mikael Winkvist as auditor in charge.
The AGM decided that the remuneration to the board should amount to SEK 1,870,000 to be allocated with SEK 550,000 to the chairman of the board of directors and SEK 220,000 to each other member of the board of directors who are not employees in the company. For work relating to committees, each member appointed by the Board of Directors shall receive SEK 10,000 per meeting. Remuneration to the auditor will be on approved account.
Resolution regarding the nomination committee and guidelines for remuneration and other terms of employment for the group management
The AGM resolved to approve the proposed instructions for the nomination committee and the board of directors' proposal regarding guidelines for remuneration and other terms of employment for the group management.
Resolution on the issue of synthetic options
The AGM resolved to introduce a cash-based option programme related to Net Insight's share price development, mainly in line with the synthetic option programme adopted by the annual general meeting 2015. The opportunity to acquire synthetic options shall include all of the approximately 140 employees within the Swedish organization of the Net Insight group that are residents in Sweden. A maximum total of 1,150,000 synthetic options may be issued in Option Programme 2016.
Resolution regarding authorization for the board of directors to resolve to repurchase and transfer of own shares
The AGM resolved to authorize the board of directors to resolve to repurchase, on one or several occasions until the next annual general meeting, as many own shares as may be purchased without the company's holding at any time exceeding 5 per cent of the total number of shares in the company. Further, the AGM resolved to authorize the board of directors to resolve, on one or several occasions until the next annual general meeting, to transfer (sell) own shares.
The purpose of the authorization to repurchase own shares is 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. The purpose of the authorization to transfer own shares is to enable the board of directors to make corporate acquisitions, product acquisitions or enter into collaboration agreements, or to raise working capital or broaden the shareholder base or for use in the context of the company's incentive plans or to provide hedging for the company's option programme.
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight, +46 8 685 04 00, firstname.lastname@example.org
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 May 10, 2016 at 12.15 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