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In November 2021 Speqta AB ("Speqta") initiated a strategic review. The review concludes that Speqta will solely focus on marketing for e-commerce and the AI-based bidding SaaS service Bidbrain. The divestments of the other businesses have enabled amortization of all interest-bearing debts and resulted in a cash pool of approx. SEK 420 million. Given that financial position and the eCommerce focus, the board proposes a dividend to the Annual General Meeting of SEK 4.80 per share, amounting to a total SEK 316 million. 

Speqta has a strong financial position with a large cash pool and no interest-bearing debts, which is a solid foundation to invest in and build a leading position within AI-based marketing. With the SaaS service Bidrain Speqta is providing eCommerce stores a critical AI tool to help them become more granular in their bidding and become more efficient in winning conversions and customers. Bidbrain was launched in the summer of 2021 and Speqta is now fully investing and focusing on establishing Bidbrain as the leading AI tool for eCommerce companies. The strategic review has concluded that the C&C businesses have been, or shall be, divested:

Rahalaitos - In November 2021 the leading Finnish loan broker Rahalaitos was sold to Sambla Group AB, owned by Nordic Capital, giving a net cash contribution of SEK 384 million. Speqta acquired Rahalaitos in Janurary 2020 for SEK 249 million. Despite the negative pandemic effects Rahalaitos has delivered goos and stable profitability during the last twelve months with revenues of EUR 8.7 million and an EBITDA of EUR 3.0 million up until September 2021. The agreement includes an earnout of a maximum EUR 8.0 million, or approximately SEK 80 million, based on the outcome of revenues and EBITDA in Rahalaitos between November 2021 and October 2022. During this period Speqta will continue to operate Rahalaitos, and the company is well-positioned to continue to develop strongly as society begins to return to normal, following the pandemic restrictions. 

Vinklubben - On March 16th 2022 the agreement of divesting all shares of the subsidiary Mytaste Food & Beverage AB ("Vinklubben") to Viva Wine Group for cash SEK 120 million (on a cash and debt-free basis) was announced. Vinklubben is Sweden's leading player in performance-based wine online marketing with approximately 1.6 million members. In 2021 the revenue amounted to SEK 22.5 million and an EBITDA of SEK 12.4 million excl. management fees. In Vinklubben the sites myTaste and Matklubben are also included. 

Affilijet - There is ongoing work to find a new context for the comparison sites within Affilijet, where the business can continue to develop. In 2021 the Affilijet revenues were SEK 19.7 million with an EBITDA of SEK 1.4 million excluding management fees. In the Affilijet group the services Outletsverige, Kampanjjakt, Lånakuten and Låne-penger.com are also included. The expected return from this business is estimated to be limited in comparison to previous divestments. 

Given the strong financial position of Speqta, the board is proposing a dividend of SEK 4.80 per share to the Annual General Meeting, a total dividend of SEK 316 million. 

Speqta's CEO Fredrik Lindros comments:

"We are now transforming from being a mixed group of businesses within wine, loan comparison, discount codes, recipe sites, and e-commerce to becoming a single tech-focused company with a clear growing customer group: eCommerce stores. With the divestment of the other businesses, we have realized significant shareholder value. At the same time keeping the business with the largest growth potential and we can now fully invest and focus on Bidbrain, building the service and the team. We also believe that Speqta's more concentrated business will be more transparent and easier to understand for investors."

Speqta's chairman of the Board Fredrik Burvall comments:

"The board has, together with management, identified a significant growth potential within the Adtech area and has made the decision to invest in Bidbrain. Given that we have concluded that other businesses have better possibilities for growth with their new owners, we have realized a value that we now propose to be distributed to the shareholders. The board, therefore, proposes to distribute a significant part of that realized value as a dividend. At the same time, Speqta is now moving into a new exciting phase. A more focused Speqta take form."

The remaining business Adtech in Speqta, excluding the C&C segment with Rahalaitos, Vinklubben, and Affilijet, had in 2021 revenues of SEK 26.9 million with an adjusted EBITDA of SEK -20.1 million, including central costs like HR, finance, and administration for whole Speqta. After the Rahalaitos and Vinklubben divestments, Speqta will have 22 full-time employees, and today Affilijet also has five more employees. 

Speqta's CEO Fredrik Lindros comments:

"Speqta is now entering a new exciting phase where the main focus is to develop the best tools for e-commerce marketing. It will require significant investments in product development and marketing, and without other profitable businesses, Speqta will show red numbers for a while. With our solid knowledge within performance-based marketing, e-commerce, and strong financial position we have the resources to establish a leading position in AI-based marketing. Our vision is that Bidbrain shall become a key tool and first choice for e-commerce stores. With Bidbrain we offer a promising and competitive SaaS with fantastic opportunities to generate profitable growth." 

Speqta is also inviting shareholders and investors to a Q&A session moderated by Redeye on March 18th, 2022 at 10.00 here https://www.redeye.se/events/836413/speqta

This information is information that Speqta AB (publ) is obliged to make public, pursuant to the EU Market Abuse Regulation. The information in this press release has been released through the agency of the below person, to be published March 16, 2022 at 18:00 CET.