Capital increase in connection with exercise of warrants

Company Announcement No. 40-2023
Copenhagen, 8 December 2023

Penneo issued a total of 4,502,603 warrants in May 2020 prior to the IPO. 

Prior to the opening of the exercise window on 21 November 2023 a total of 679,842 warrants remain under the warrant scheme of May 2020.

Since 21 November 2023, instructions have been received to exercise warrants as follows: 

Warrant scheme May 2020

• One individual has issued instructions to exercise 50,000 warrants at the agreed price of 4.67 DKK per share with a nominal value of 0.02 DKK
• One individual has issued instructions to exercise 337,301 warrants at the agreed price of 4.33 DKK per share with a nominal value of 0.02 DKK
• One individual has issued instructions to exercise 16,061 warrants at the agreed price of 4.67 DKK per share with a nominal value of 0.02 DKK
• One individual has issued instructions to exercise 126,029 warrants at the agreed price of 4.33 DKK per share with a nominal value of 0.02 DKK
• One individual has issued instructions to exercise 31,132 warrants at the agreed price of 4.28 DKK per share with a nominal value of 0.02 DKK
• One individual has issued instructions to exercise 98.046 warrants at the agreed price of 4.67 DKK per share with a nominal value of 0.02 DKK

Today, the Board of Directors decided to carry out the capital increase relating to the exercised warrants. As a result of the capital increase, the share capital of Penneo will be increased by a nominal amount of 13,171.38 DKK from 668,653.86 DKK to 681,825.24 DKK through the issue of 658,569 shares.  As warrants under this May 2020 warrants scheme lapse without compensation when not striked by end of this exercise window following the release of the 2023-Q3 report, the remaining 21,273 warrants lapse.

Registration of the capital increase at the Danish Business Authority is expected to take place on 8 December 2023. Following the registration, the new shares are expected to be admitted to trading and official listing on NASDAQ Copenhagen on 13 December 2023 under the ISIN code of Penneo’s existing shares (DK0061283009).

The number of votes increases from 33,432,693 to 34,091,262. The new shares will entail a dilution of approximately 1.97% for existing shareholders of Penneo.