10.8.2022 18:45:41 CEST | SPENN Technology A/S |
Company Announcement

The SPENN Group continued its growth in H1 2022. Revenue for the period was DKK 70.3 million – up from DKK 0.2 million for the same period in 2021.

Company Announcement No. 88

Gross profit was DKK 8.2 million – up from DKK 0.03 million for the same period in 2021. 

The growth is primarily driven by Zambia and the contribution from the acquisition of Kazang Zambia Ltd, which continues to grow. The synergies of the acquisition is continuously contributing to the growth in revenue in SPENN Zambia. Combining all operations, the SPENN Group is close to reaching break-even in Zambia, and the organisation is adopting similar strategies to fast-track the growth of the other SPENN markets.

“The downturn in the global security markets is a stark contrast to the fact that SPENN revenues are significantly higher than a year ago,” says Jens Glaso, CEO of SPENN Technology.

In short, year-over-year revenues in the three active SPENN markets have increased as follows:

• SPENN Rwanda: +700%
• SPENN Zambia: +600 %
• SPENN Tanzania: +395%

The SPENN Group reported a loss of DKK 21.6 million for H1 2022 compared to a loss of DKK 34 million for the same period in 2021. 

“Our fantastic ground crew in all operational markets continues to build a base of SPENN users, businesses, and agents. They are continuously building partnerships with private and governmental entities to include more people in the financial system, and to offer products and services that are affordable for ordinary people and profitable for SPENN,” says Glaso.

During the first half of 2022, SPENN announced that the company is currently working on entries into new markets. Among the new markets is Nigeria. 

“Being the most populous country on the great African continent, Nigeria has more than 200 million inhabitants and an annual growth rate of approximately 5 million people. It is truly an exciting place to roll out SPENN products and services,” says Glaso.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

Attachments

• 2022_H1_SPENN Technology Interim Report_Final.pdf

20.7.2022 15:44:41 CEST | SPENN Technology A/S |
Investor News

A joint venture with a key Nigerian governmental body will greatly accelerate the penetration of SPENN products and services in the largest African market.

Investor News 5/22

Today, SPENN Nigeria – a subsidiary of SPENN Technology A/S – has signed an agreement to enter into a joint venture with the Nigerian National Agency for Science and Engineering Infrastructure (Naseni). The joint venture, to be named Naseni SPENN, will build a full-fledged digital eco-system for disbursements.

“This is a game-changer for us in Nigeria,” says Jens Glaso, CEO of SPENN Technology A/S.

“We are thrilled by the opportunities presented to SPENN because of this agreement. As a result, entry and distribution of SPENN services and products will be greatly accelerated in the most populous country on the great African continent,” says Glaso.

In Investor News 4/22, published on 7 June 2022, SPENN estimated that an entry into Nigeria could take 1 to 2 years.

“Following today’s agreement with Naseni, we expect to be operational in Nigeria in 6 to 12 months,” says Karl-Anders Grønland, Chairman of the Board of Directors of SPENN Technology.

The Nigerian National Agency for Science and Engineering Infrastructure (Naseni) is a governmental body created to amongst others establish and nurture an appropriate and dynamic science and engineering infrastructure base. The goal is to achieve home-initiated and home-sustained industrialization through the development of relevant processes, capital goods and equipment necessary for job creation, national economic well-being and progress. 

SPENN will provide Naseni with a digital disbursement solution for them to disburse certain national pension funds, agricultural and manufacturing disbursements as well as social intervention solutions.

The agreement was signed in Oslo, Norway today by Executive Vice Chairman of Naseni, Professor M. S. Haruna and Mr. Grønland.

According to the agreement, SPENN shall retain 70 percent of the joint venture Naseni SPENN, while Naseni shall retain the remaining 30 percent of the company.

Nigeria is the most populous country in Africa with an estimated 216 million people. At the current growth rate, Nigeria is adding approximately five million people to its population every year.

“We will work relentlessly to make Nigeria a huge market for SPENN. We are keen on exploring the opportunities for SPENN products and services in this great nation, and we are pleased to have come one step further in Nigeria. Building on experiences and results in our current markets, we are now able to plan a roll-out with larger public disbursement partners,” says Glaso.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

27.6.2022 10:00:55 CEST | SPENN Technology A/S |
Managers' transactions

Staffan Herbst, Chief Financial Officer of SPENN Technology A/S, has acquired 25 million shares of the company for DKK 3 million.

Company Announcement No. 87

The shares were acquired through a direct share issuance worth DKK 3 million, based on a share price of DKK 0.12.

“Herbst holds a key position at SPENN Technology A/S. It is of great value to the company to provide him with strong incentives for continuing his efforts as an important part of the management team, and to increase his incentives for an upcoming dual quotation in New York,” says Karl-Anders Grønland, Chairman of the SPENN Board of Directors.

CFO Staffan Herbst has been with SPENN Technology and subsidiary Blockbonds since 2018. Following this transaction, Herbst owns 28,564,000 shares of SPENN Technology.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

Attachments

• 87_Notification_Staffan_Herbst_20220627.pdf

7.6.2022 08:28:48 CEST | SPENN Technology A/S |
Investor News

SPENN Technology is preparing an entry into the largest country and market in Africa: Nigeria.

Investor News 4/22

Today, SPENN has entered into an agreement with the intention to establish a company that will offer SPENN products and services in Nigeria.

“Our intention is to build a Nigerian SPENN organization to penetrate the largest market on the African continent,” says Jens Glaso, CEO of SPENN Technology.

Nigeria is the most populous country in Africa with an estimated 216 million people. At the current growth rate, Nigeria is adding approximately 5 million people to its population every year.

“We will work relentlessly to make Nigeria a huge market for SPENN. We are keen on exploring the opportunities for SPENN products and services in this great nation, and we are pleased to have started the process of entering Nigeria. Building on experiences and results in our current markets, we are now able to plan a roll-out with larger public disbursement partners,” says Glaso. 

SPENN operations in Nigeria will be set up as a joint venture with Nigerian partners. SPENN Technology will have 70 per cent ownership of SPENN Nigeria.

When the joint venture is established, it will search for an appropriate bank partner and apply for approval from the Central Bank of Nigeria and other relevant Nigerian authorities. 

“This could take 1-2 years, but we hope that our local partners will be able to speed up the process,” says Karl-Anders Grønland, Chairman of the Board of SPENN Technology.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN