Background to the proposal for a name change It is the Board's assessment that a new company name is more consistent with the company's current operations, strategic direction and long-term development plans. The proposed name is expected to create a clearer and more appropriate market positioning and strengthen the company's profile towards customers, investors and other stakeholders.
Notice of the Extraordinary General Meeting with a proposal for a resolution on amendment of the Articles of Association due to a change of company name will be published through a separate press release.
Torgny Hellström, Chairman of the Board of Directors of Terranet comments: "The company is in an intense and exciting phase. Thus, the proposal for a name that is more compatible with the company's current operations is important and completely timely. The name Terranet is today associated with a history that does not reflect the technology and potential that currently constitutes the company. It is with great confidence that I look forward to leading the company with the new name Blincvision forward at an exciting stage together with the fantastic team we have in place."