Haivision Announces Renewal of Normal Course Issuer Bid

MONTREAL, Jan. 27, 2025 /CNW/ - Haivision Systems Inc. ("Haivision" or the "Company") (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced that it has received approval from the Toronto Stock Exchange ("TSX") respecting the renewal of its normal course issuer bid ("NCIB").

Management believes that, from time to time, the market price of the common shares of the Company (the "Shares") may not fully reflect the underlying value of the Shares and that at such time the purchase of Shares under the NCIB would be in the best interest of Haivision and its shareholders.

Under the renewed NCIB, the Company may purchase for cancellation up to 1,924,404 Shares, representing 10% of Haivision's public float as of January 15, 2025, calculated in accordance with TSX rules. As at January 15, 2025 Haivision had 28,171,565 Shares issued and outstanding. The Shares will be purchased on behalf of the Company by a registered broker through the facilities of the TSX and/or eligible alternative Canadian trading systems at the market price at the time of purchase. Purchases may commence on January 29, 2025 and will conclude on the earlier of the date on which the Company has purchased the maximum number of Shares permitted under the NCIB and January 28, 2026. The average daily trading volume of the Shares over the most recently completed six calendar months was 33,944 Shares. Accordingly, for purposes of the TSX rules, the Company is entitled to purchase, on any trading date, up to 8,486 Shares and to make block purchases of its Shares which exceed such daily limits no more frequently than once per calendar week. All shares purchased under the NCIB will be cancelled.

In connection with the NCIB, the Company has entered into an automatic share purchase plan (the "ASPP") with its designated broker to allow for the purchase of Shares under the NCIB when Haivision normally would not be active in the market due to internal trading black-out periods. Such purchases will be determined by the broker at its sole discretion, based on the purchasing parameters set out by the Company in accordance with the rules of the TSX. The ASPP will terminate on the earliest of the date on which: (i) the NCIB expires; (ii) the maximum number of Shares have been purchased under the NCIB; and (iii) the Company terminates the ASPP in accordance with its terms. The ASPP constitutes an automatic purchase plan for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.

The renewal of the NCIB follows on the conclusion of Haivision's NCIB that expired on January 21, 2025, under which Haivision was authorized to purchase up to 2,007,521 Shares for cancellation. From January 22, 2024 to January 15, 2025, Haivision purchased 843,000 Shares through the facilities of the TSX at a weighted average price of $4.37 per Share.

There can be no assurance as to how many Shares, if any, will be acquired by Haivision pursuant to the renewed NCIB.

Forward-Looking Information

This release includes "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable securities laws, including, without limitation, statements concerning future purchases of Shares pursuant to the NCIB. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance.

Forward-looking statements are necessarily based on opinions, assumptions and estimates that, while considered reasonable by Haivision as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under "Risk Factors" in the Company's latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect Haivision. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Haivision undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.

SOURCE Haivision Systems Inc.

For further information: Glen Akselrod, Bristol Capital, 905-326-1888 ext. 1, [email protected]; Dan Rabinowitz, Chief Financial Officer and EVP, Operations, 847-362-6800 ext. 7209, [email protected]