Konsolidator to issue new shares in a directed issue and due to exercise of warrants - inside information

Company announcement no 9-2022

Søborg April 28, 2022

Konsolidator to issue new shares in a directed issue and due to exercise of warrants

Konsolidator announces today the completion of a directed issue and the exercise of warrants totaling proceeds of DKK 4 million which streghthens Konsolidator’s capital base and enables the company to continue its growth journey.

As part of the directed issue Konsolidator A/S (“Konsolidator”) will issue 204,861 new shares at a subscription price of DKK 14.40 per share corresponding to gross proceeds of approximately DKK 3 million. Further, 118,055 new shares will be issued as a result of a warrant exercise of 118,055 warrants at an exercise price of DKK 8.8 per share, corresponding to proceeds of DKK 1 million.

Directed Issue

The directed issue of new shares is directed to the respective holding companies of Konsolidator’s three founders, Claus Finderup Grove, Jack Skov, and Lars Højer Påske.

The subscription price is DKK 14.40 per share, equivalent to the closing price of Konsolidator’s shares today, April 28, 2022. The expected gross proceeds of the subscription is DKK 3 million.

Prior to the subscription of new shares, the respective holding companies of the three founders have sold a total of 256,074 of their shares in Konsolidator to a number of investors, including current Board Member in Konsolidator, Cecilia Hultén, at the closing price of Konsolidator’s shares at April 28 less 20%, equivalent to a price of DKK 11.52 per share and proceeds of DKK 3 million.

The Board of Directors has thus exercised a nominal value of DKK 8,194.44 out of its authorisation to increase the share capital without pre-emption rights for Konsolidator’s existing shareholders according to article 3.1.1 of the articles of association.

Exercise of vested warrants

In March 2019 Board Member Jesper Eigen Møller was granted 125,000 warrants, each of which entitles to subscribe for one share in Konsolidator at an exercise price of DKK 8.8 per share.

118,055 of the warrants have vested and been exercised by Jesper Eigen Møller. Payment of the total subscription amount will result in proceeds of DKK 1 million to Konsolidator.

The Board of Directors has decided to carry out the capital increase relating to the exercised warrants. As a result of the capital increase, the share capital of Konsolidator will be increased by a nominal amount of DKK 4,722.20 through the issue of 118,055 new shares.

Registration of capital increase

Subject to settlement, the new shares issued as a result of the directed issue and the exercise of warrants will be registered at the Danish Business Authority, and the share capital will increase by 322,916 shares to 15,777,462 shares each with a nominal value of DKK 0.04. The company will have a registered share capital of nominal DKK 631,098.48 after registration of the capital increase.

The new shares are expected to be admitted to trading on Nasdaq First North Growth Market Denmark on May 6, 2022 under the ISIN code of Konsolidator’s existing shares (DK0061113511).

The new shares will rank pari passu with the existing shares in Konsolidator. The new shares will be negotiable instruments, and no restrictions will apply to their transferability. No shares, including the new shares, 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.

Strengthening the capital base

Claus Finderup Grove, CEO, comments: “We are happy to welcome our new shareholders in Konsolidator and to experience such a strong commitment from our two board members Cecilia Hultén and Jesper Eigen Møller. We will continue to focus on delivering on our growth strategy 2022-2024, Unfolding the potential including strengthening our capital base further and we look forward to keeping you updated on the progress.”

The guidance for 2022-2024 remain unchanged according to our company announcement on March 30, 2022.

Expected timetable

• May 4, 2022: Settlement and payment for the new shares
• May 4, 2022: Registration of the capital increase with the Danish Business Authority
• May 6, 2022: Shares to be admitted to trading on Nasdaq First North Growth Market
  
  
  
  

Contacts

• CEO: Claus Finderup Grove, mobile ,
• CFO: Jack Skov, mobile, , js

Certified Adviser

• Grant Thornton, Jesper Skaarup Vestergaard, phone ,
  
  
  
  

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

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