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Regulatory press release

Napatech A/S : Heine Thorsgaard new CFO

Napatech
(Copenhagen, 3 September 2018) Napatech A/S ("Napatech", OSE: NAPA) today announced Heine Thorsgaard as new Chief Financial Officer effective 1 December 2018, as Carsten Kaalund is stepping down due to a personal matter. The company is working to establish an interim solution in anticipation of Thorsgaard's commencement, which may occur earlier than 1 December 2018.

"We have accepted Carsten Kaalund's resignation, and fully understand his decision to spend more time with his family going forward. We are grateful for his contributions as controller and CFO of Napatech, and wish him well," says Ray Smets, CEO of Napatech.

Heine Thorsgaard has been recruited as the company's new CFO effective 1 December 2018. Thorsgaard comes with extensive experience from CFO and Finance Manager positions in several IT companies and engineering consultancies, like Orbicon, Alectia, NetDesign and Columbus IT Partner. In addition, Thorsgaard holds a Ph. D. in Management Accounting/Technologies of Management from Copenhagen Business School. He is a Danish citizen.

"I am pleased to welcome Heine as Napatech's new CFO. He brings comprehensive experience from senior financial positions and has in-depth knowledge within our field of expertise and in building investor relationships. His experience in strategic financial planning will bring Napatech much needed expertise as we continue to drive improvements in our financial position and as we build momentum back towards growth and profitability," says Smets.

Napatech is working to extablish an interim solution in anticipation of Thorsgaard's commencement, which may occur earlier than 1 December 2018.

For additional information, please contact:

Ray Smets, Chief Executive Officer
Phone: +45 4596 1500
E-mail: rsm@napatech.com

About Napatech
Napatech helps companies to reimagine their business by bringing hyperscale computing benefits to IT organizations of every size. We enhance open and standard virtualized servers to boost innovation and release valuable computing resources that improve services and increase revenue. Our reconfigurable computing platformTM is based on a broad set of FPGA software for leading IT compute, network and security applications that are supported on a wide array of FPGA hardware designs. Additional information is available at www.napatech.co


This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Napatech A/S via Globenewswire

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