Nexxen International reports director dealings under Rule 10b-5

TEL AVIV, Israel - Nexxen International Ltd. (formerly known as Tremor International Ltd.), a company specializing in computer programming and data processing services, disclosed today that its directors have engaged in transactions in accordance with pre-established non-discretionary trading plans under Rule 10b-5.

The company, which is listed under the SEC file number 001-40504, made the announcement in compliance with the AIM Market Rules. These transactions are part of the directors' planned financial management strategies and are executed through plans that allow insiders to trade shares at predetermined times and prices, thereby avoiding potential conflicts of interest or accusations of insider trading.

Nexxen International's Chief Financial Officer, Sagi Niri, signed the report, confirming the company's adherence to the necessary regulatory requirements.

The transactions under Rule 10b-5 are designed to facilitate the fair and orderly trading of Nexxen International's shares while providing transparency regarding the trading activities of its directors.

The company's business address is listed as 82 Yigal Alon Street, Tel Aviv 6789124, Israel, and it operates under the standard industrial classification code 7370 for services related to computer programming and data processing.

In other recent news, Nexxen International Ltd. reported robust financial performance in the second quarter. RBC Capital has raised its price target for Nexxen from $9 to $11, maintaining an Outperform rating, indicating the firm's continued confidence in Nexxen's prospects.

This positive adjustment is influenced by expectations of revenue growth in the second half of the year, driven by Nexxen's enhanced go-to-market strategies and increasing momentum in Connected TV (CTV).

Moreover, Nexxen has announced that certain directors have engaged in trading activities under pre-established, non-discretionary plans, demonstrating regulatory compliance.

The company also reported that it will release its financial results for the second quarter of 2024 soon, providing investors with a detailed snapshot of its financial health and operational progress.

In addition, Nexxen's first-quarter results exceeded projections, with a contribution excluding Traffic Acquisition Costs (ex-TAC) 4% higher than expected and EBITDA $1.8M above consensus. Following these robust financial results, the company initiated a new $50M share repurchase program.

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