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SPENN Technology A/S: Capital increase registered

SPENN Technology A/S: Capital increase registered

SPENN Technology A/S executes capital increase as previously announced in company announcement of 9 June 2021 (company announcement no. 56) due to implementation of the strategic transaction with shareholders of Blockbonds AS.

In company announcement of 9 June 2021 (company announcement no. 56) SPENN Technology A/S informed that shareholders of Blockbonds AS would contribute 24,048,685 shares of nominally NOK 1 each in Blockbonds AS against issue of 2,380,819,815 new shares of nominally DKK 0.10 each in SPENN Technology A/S and that the transaction was to be completed end June and no later than 30 June 2021.

SPENN Technology A/S has now received the expected subscriptions for 2,380,819,815 new shares of nominally DKK 0.10 each.

The capital increase will be completed and filed with the Danish Business Authority on expiration of the subscription period on 30 June 2021 and the share capital of SPENN Technology A/S will be increased to nominally DKK 239,088,084.9 divided in to 2,390,880,849 shares of nominally DKK 0.10 each.

The updated articles of association will be available on the company’s website from 30 June 2021 at 10:00hrs [npinvestor.com].

The new shares will be issued in a separate and temporary ISIN DK0061666799 which is planned merged with the ISIN DK0060827269 of the existing shares of SPENN Technology A/S. However, this is contingent upon Nasdaq’s approval and admittance to trading of the new shares (and revocation of the current suspension of trading in the existing shares ISIN DK0060827269).  

After the capital increase SPENN Technology A/S will be the majority owner of Blockbonds AS and holds 98.44 per cent of Blockbonds AS’ share capital.

For further Information, please contact:
Jens B. Glasø, CEO of 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.

Following the purchase of Norwegian fintech company Blockbonds AS, SPENN Technology A/S is in what is referred to as a change of identity process. As such, we are required by Nasdaq to note that failure to conclude such process could mean that the company’s share could be de-listed.