Agillic has entered into an agreement for new equity capital amounting to a minimum of DKK 21.6 million to fund continued growth and to strengthen the balance sheet
Announcement no. 5 2020
Copenhagen – 16 March 2020 – Agillic A/S (Nasdaq First North Copenhagen: AGILC) announces that it plans to issue new equity capital amounting to a guaranteed minimum of DKK 21.6 million and a maximum of DKK 26.1 million. The new equity capital is going to fund the Company’s continued growth and strengthen the balance sheet. The agreement is based on the closing price of Agillic’s shares as of Friday 13 March 2020, corresponding to DKK 19.20. Minority shareholders are offered to subscribe new shares pro-rata at the same price up to a total of DKK 4.5 million. The combined issue of new shares is subject to the approval of Nasdaq Copenhagen.
Emre Gürsoy, CEO of Agillic comments:
“We are both humbled and delighted with the support of both current and new shareholders. This will enable Agillic to continue capitalising from the product investments made in 2018 and 2019 and to exploit the Company’s growth and profitability opportunities fully. However, in the short term, as a result of the current global outbreak of COVID-19, our priority is the safety of our employees, the uninterrupted business continuity of our platform - and for the time being - fully virtual support to Agillic’s clients.”
The background of raising new capital via the issue of new shares
The background for raising new equity capital is to support the continuous growth of Agillic, which combined with profitability is the main priority for 2020 and going forward. A further objective is to strengthen the balance sheet of the Company.
The composition of Agillic’s new equity capital
In the below table the expected composition of Agillic’s new equity capital is set out.
| Transaction (pending) | Terms | DKK (market value) | Comments |
| Targeted issue of new shares | @DKK 19.20 per share *) | 4,300,000 | Directed at three new shareholders, one of them being Agillic’s CEO, Emre Gürsoy. The issue of new shares is expected to take place according to the current authorisation in Agillic’s articles of association |
| Conversion of debt to Agillic from existing shareholders | @DKK 19.20 per share *) | 5,349,516 | Subject to approval at the coming annual general meeting of Agillic to be held on 24 March 2020. Non-cash effect |
| Issue of new shares with pre-emption rights for existing shareholders | @DKK 19.20 per share *) | 12,000,000 | Guaranteed by Agillic’s existing majority shareholders as to 72.8% of the issue of new shares with pre-emption rights for existing shareholders. The issue is pending the approval of Nasdaq Copenhagen |
| Total (guaranteed) | 21,649,516 | Of which DKK 16,300,000 will be in cash | |
| Issue of new shares with pre-emption rights for existing shareholders | @DKK 19.20 per share *) | 4,484,574 | To be offered to the Agillic’s minority existing shareholders. The issue is pending the approval of Nasdaq Copenhagen |
| Total (potential maximum new equity capital) | 26,134,090 | If the overall issue of new share is fully subscribed, DKK 20,784,574 will be in cash | |
| *) The closing price of Agillic’s shares as of Friday 13 March 2020. The combined issue of new shares is subject to the approval of Nasdaq Copenhagen. | |||
Expected issue of new shares with pre-emption rights for existing shareholders to be announced shortly
Agillic expects shortly to issue an announcement setting out the details, including the timing, of the Company’s coming expected issue of new shares with pre-emption rights for existing shareholders. The issue is currently pending the approval of Nasdaq Copenhagen.
2020 guidance
On 31 January 2020, Agillic announced the Company’s guidance for 2020. Agillic will attempt to achieve the announced financial guidance for 2020. However, with the current global outbreak of COVID-19, a significantly higher uncertainty must now be attributed to the Company’s earlier announced financial guidance for 2020.
For further information, please contact:
Emre Gürsoy, CEO, Agillic A/S
Christian Tange, CFO, Agillic A/S
Certified Adviser
Tofte & Company
Sasja Dalgaard
Christian IX’s Gade 7, 1111 Copenhagen K
About Agillic A/S
Agillic is a Nordic software company enabling marketers to maximise the use of data and translate it into relevant and personalised communication establishing strong relations between people and brands. Our customer marketing platform uses AI to enhance the business value of customer communication. By combining data-driven customer insights with the ability to execute personalised communication, we provide our clients with a head start in the battle of winning markets and customers.
Besides the company headquarter in Copenhagen, Agillic has sales offices in London (UK) and Stockholm (Sweden), Zurich (CH), as well as a development unit in Kiev (Ukraine). For further information, please visit
Agillic A/S (publ) (Nasdaq First North Copenhagen: AGILC) is obligated to publish the above information in compliance with the EU Market Abuse Regulation. The information was published via agent by Agillic A/S on 16 March 2020.
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