DecideAct raises a further DKK 14.8 million from private investors, including the Chairman of the Board, to accelerate growth.

DecideAct A/S [ACT], company announcement no. 17-2021:

The investment represents a major strengthening of the Company’s capital base and will be deployed to enhance the implementation of DecideAct’s growth strategy over the next two years.

The transaction: Software company DecideAct (the Company) has agreed with private investors, including Jens Munch (J. Munch Holding ApS) and Peter Søndergaard (Chairman of DecideAct) that they will invest a further DKK 14.8 million in total into DecideAct by way of a directed issue. The transaction has been agreed at DKK 12.07 per share which is 1% above the 10-day weighted average of traded shares from July 8 to July 21, 2021 (incl) of DKK 11.94. The capital increase results in the total issuance of 1,225,670 new shares and is executed by the Board by use of the existing authorization to perform directed issues in the Company’s Articles of Association.

The motivation: The deviation from the normal pre-emptive rights was decided due to the desire to enable the Company to pursue its strategy with even greater force and at the same time to secure a continued full focus upon the business. By agreeing with key individuals who are already very knowledgeable about the Company, the transaction could be performed without any major distraction to management. Last but not least, management, board and founders see the commitment to such significant additional investment as a very strong signal, given that it comes from investors who are already close to the business. In particular this is the case when it comes to the Chairman of the Board, Peter Søndergaard.

The purpose: The investment represents a major strengthening of the Company’s capital base and will be deployed to accelerate the implementation of DecideAct’s growth strategy over the next two years. The main part of the capital will be deployed to widen DecideAct’s sales and marketing bandwidth and allow the Company to pursue its pipeline with greater force. This will also allow for allocation of additional sales resources in favor of larger, corporate prospects which are potential game changers for DecideAct, but which are also known for having extended processes, special feature/function requests and high dependency upon single corporate management members (Chief Strategy Officers, CFOs or CEOs). Furthermore, the investment enables expedited delivery of the technical roadmap.

In previous statements, Jens Munch has made it clear that he considers DecideAct's solution to be both relevant in the market and highly scalable, and he believes that DecideAct has proven this assumption correct with the addition of customers in multiple industries and geographies. Commenting on the current capital injection, Jens Munch says: "Investment is about confidence, and I have confidence in DecideAct as an investment case and in the people behind it. The product is rock solid and very much in line with a global trend in strategy. In addition, the Company is staffed by a highly competent team of people, from the management and board level down to the individual functions."

Chairman of the Board, Peter Søndergaard, former Executive Vice President of Gartner Group expects the capital injection to provide the decisive boost to a concept that has already proven its viability and relevance in many different businesses. Commenting on his own involvement, he states: "I have previously expressed the view that DecideAct has the potential to become a dominant player in its category. And I want to help unlock that potential."

CEO and Co-founder, Flemming Videriksen says: "If you compare us to a football team that aspires to play at the absolute top, then it is crucial that in addition to having a good team, you also have the resources to work on the things that tip the margins in your favor. I am convinced we will get that now. We are pleased that our investors have confidence in DecideAct's long-term potential and we will continue to do our utmost to live up to it. The additional financial muscles that follow from this transaction only further reinforces my belief that we will succeed in capturing a significant slice of the billion-dollar potential that our category is estimated to represent."

The details: A large majority of the transaction, DKK 9,052,500.00 (or 61%) comes from the external investor Jens Munch (J. Munch Holding ApS), which before the current injection owned 15.6% of the share capital of the Company. With the increase in share capital, J. Munch Holding ApS will own 21.9% of the shares of the Company. Peter Søndergaard, Chairman of the Board (Maximus Trust LLP) is committing DKK 3,017,500.00 and will go from 2.4% to 4.9% of the shares of the Company with this investment. The other investors in this directed issue are board and management members as well as externals as follows: JAKSLAND Capital & More ApS: DKK 1,498,792.25 (external), Jacob Tackmann Thomsen (JTT Invest ApS): DKK 999,999.50 (Board member), Bjarni Snæbjörn Jónsson (BKK Holding DK IVS): DKK 75,015.05, Flemming Videriksen (FSV 1966 Holding IVS): DKK 75,015.05 (both Co-Founders), Lilja Rut Graetz: DKK 75,015.05 (who is also a minor owner of Katla Seed Invest) (all three last mentioned are key management members). The total amount in this transaction is DKK 14,793,836.90. Due to the transaction the total number of issued shares goes up from 7,683,177 to a new total of 8,908,847 and the share capital goes up from 768,317.70 to 890,884.70 based upon the nominal value of 0.10 DKK/share, which corresponds to a dilution of 13.8% of non-participating shareholders.

(Please refer to pdf version of this news release at https://www.decideact.net/investor-relations/ for details in attached table).

The new shares will be identical with the existing shares and application will be made for them to be admitted to trading on Nasdaq First North Growth Market, Denmark under the ticker ‘ACT’. Gemstone Capital acted as Financial Adviser in this transaction.

About DecideAct A/S [ACT]

DecideAct is a provider of SaaS software and solutions that move manual execution and follow-up of strategy to a cloud-based Strategy Execution Management platform. By rethinking the way strategy is executed, DecideAct has created a groundbreaking tool that is relevant to all companies and organizations, public or private, in all industries, geographies, functional roles and their mission critical priorities related to achieving strategic goals. DecideAct’s vision is to modernize strategic leadership through technology.

This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.

Contact Information

Company:
CEO, Flemming Videriksen
+ 45 78756550
E-mail: [email protected]
DecideAct A/S
Østre Kajgade 3, 3730 Nexø, Denmark

Financial Adviser:
Managing Partner Søren Jonas Bruun
+45 40561109
E-mail: [email protected]

Certified Adviser:
Keswick Global AG
+ 43 1 740 408045
E-mail: [email protected]