Company Announcement 50/2021
29. March 2021
CVR nr. 26518199
NPinvestor A/S changes its name to SPENN Technology A/S. The new name was approved by the General Meeting on 26 March and reflects a transaction with the Norwegian fintech and blockchain company Blockbonds.
Blockbonds operates digital banking and payment services in Africa and Asia offered through the mobile banking application SPENN. Blockbond’s rapidly growing solutions currently have more than 800,000 users and are managed by a staff of 140 employees across four operational markets – The Philippines, Tanzania, Rwanda and Zambia. Head offices are in Norway and the UK.
Prior to the General Meeting, NPinvestor (now SPENN Technology) had entered into an agreement to acquire Blockbonds. The transaction is implemented as a share swap by SPENN Technology’s issuance of new shares to the shareholders of Blockbonds based on a valuation of Blockbonds of DKK 1.4 billion. The transaction is expected to be completed in early Q3 2021. After the completion of the transaction, the new shareholders hold 99.48 per cent of SPENN Technology.
“This move provides us with an opportunity to grow and penetrate more markets. We are on a mission to serve the 1.7 billion people that are still unbanked. By bridging the crypto sphere with traditional finance, we have developed a unique digital banking platform for the unbanked, as well as the banked, to send and receive money completely cost-free in markets where the cost of financial services is the highest in the world,” says Jens Glasø, CEO of SPENN Technology.
The General Meeting elected the following persons to serve on the Board of Directors of SPENN Technology: Jan Andersen, Karl-Anders Grønland, Adiam Negassie, Magne Fretheim and Rune Glasø.
SPENN Technology remains as the parent company of the legal entities CPH Crypto A/S, Netposten A/S and Blockbonds AS.
For further Information, please contact:
Jens Glasø, CEO of SPENN Technology, phone +47 404 04 750
Certified Advisor: Västra Hamnen Corporate Finance AB, phone. + 46 40 200 250, e-mail: [email protected]
SPENN Technology A/S