Company announcement no 15-2024

Søborg, October 8, 2024

Konsolidator to issue new shares in private placement

The Board of Directors of Konsolidator A/S (“Konsolidator”) has today exercised its authorization to issue new shares in a private placement of new shares with expected gross proceeds of up to DKK 2.2m. As announced in the H2 2024 report, the equity on June 30, 2024, was negative and management would take the necessary steps to reestablish it.

The Board of Directors of Konsolidator has today exercised its authorization to resolve on an increase of the share capital in a directed issue without pre-emption rights for Konsolidator’s existing shareholders according to 3.1.8 of the articles of association.

Consequently, the board of directors has resolved to issue up to a total of 573,979 new shares at a subscription price of DKK 3,92 per share corresponding to the volume weighted average of Konsolidator’s share price over the 5 trading days preceding the decision of the Board of Directors. Gross proceeds from the private placement corresponds to approximately DKK 2.2m.

Use of net proceeds

In the H1 2024 report published on August 22, 2024, Konsolidator continues to focus on the new growth initiatives including developing the new banking segment. Further, Konsolidator focuses on supporting Konsolidator Iberia in Spain and Portugal as well as developing Konsolidator into being a partner-sales driven company within the Microsoft D365 partner channel.

In company announcement no 14-2024 on August 22, 2024, Konsolidator announced that the focus for Q3 2024 would be to strengthen the capital structure and improve operations as well as securing funding of the operations.

CEO Claus Finderup Grove says: “We have asked a lot from our shareholders in 2024, and we are very appreciative for their patience. We have restructured our cost base in August and maintain our focus on becoming cash flow positive.”

The resolution on the private placement of new shares

The new shares issued as a result of the private placement will be registered at the Danish Business Authority upon receipt of final subscriptions and cash payments for the new shares. Following registration, the share capital will increase by the number of new shares subscribed, where each share will have a nominal value of DKK 0.04. Today, the company has a registered share capital of nominal DKK 886,428.84 and with full subscription the share capital will increase to nominal DKK 909,388.00.

The new shares represent approximately 2.6% of Konsolidator’s share capital before the capital increase and 2.5% of Konsolidator’s share capital after the capital increase.

The new shares will be negotiable instruments, and no restrictions will apply to their transferability. The new shares will not carry any special rights. The rights conferred by the new shares, including voting and dividend rights, will apply from the date when the capital increase is registered with the Danish Business Authority. The new shares are to be registered in the name of the holder in Konsolidator's register of shareholders.

Admission to trading and expected timetable

Konsolidator expects to have received final subscriptions and subscription amounts no later than on October 14, 2024, following which the capital increase will be registered with the Danish Business Authority. The new shares will be issued under the ISIN code of Konsolidator’s existing shares (DK0061113511), and are expected to be admitted to trading on Nasdaq First North Growth Market Denmark no later than on 17 October, 2024.

The offering of new shares and the admission to trading is exempt from the obligation to publish a prospectus.

Contacts

• CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
• CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com

Certified Adviser

• Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk
  
  

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL