DonkeyRepublic Holding A/S carries out a private placement

*Contains inside information*

Company announcement No. 17 – 2023 

DonkeyRepublic Holding A/S carries out a private placement of new shares to new and existing investors at a subscription price of DKK 5.79 per share, raising gross proceeds of DKK 18.6M

Reference is made to the company announcement No. 14 - 2023, where DonkeyRepublic announced its intention to carry out a private placement to provide the necessary capital for onboarding new long-term subsidized city contracts. These contracts will be directly contributing to the positive EBT of the company and also have a positive operating cash flow. This will also set up the company for a profitable growth path beyond 2024. 

Today the Board of Directors of DonkeyRepublic Holding A/S (the “Company”) resolved to carry out a private placement (the "Private Placement") of new shares to new and existing investors and issue 3,214,791 new shares of nominally DKK 0.10 each (the "New Shares") against cash contribution, raising gross proceeds of DKK 18.6M (EUR 2.5M). 

The subscription price for the New Shares is DKK 5.79 each, which corresponds to the average trading price during the period 26 – 30 June 2023.

The private placement of New Shares is led by a new investor Bladt Invest ApS subscribing for appr. 65% of the Private Placement and joined by the Company’s two existing main investors Denmark’s Export and Investment Fund and CDM Holding 2016 ApS as well as one more existing private investor, and NH Rasmussen Holding II ApS (controlled by DonkeyRepublic’s CEO Niels Henrik Rasmussen). 

Following completion of the Private Placement, the three main shareholders will hold the following ownership:

Denmark’s Export and Investment Fund – 33%

CDM Holding 2016 ApS – 10%

Bladt Invest ApS – 10%

The share capital increase pertaining to the Private Placement is carried out without pre-emptive rights for the Company’s existing shareholders in accordance with the authorization granted to the Board of Directors and set out in article 4.4 of the Company’s articles of association. 

The New Shares will, upon issuance and registration with the Danish Business Authority and admission to trading on Nasdaq First North Growth Market Denmark, rank pari passu with the Company’s existing shares and carry the same rights as the existing shares.

The share capital increase related to the Private Placement is expected to be registered with the Danish Business Authority on or around 25 July 2023. 

The New Shares will upon registration of the capital increase be issued through VP Securities in the permanent ISIN of the Company’s existing shares DK0061540770. 

The New Shares are sought admitted to trading on Nasdaq First North Growth Market Denmark in the permanent ISIN of the Company’s existing shares as soon as possible after registration of the capital increase with the Danish Business Authority, expectedly on or around 27 July 2023.

Subject to completion of the Private Placement the share capital of the Company will be nominally DKK 2,070,127.60 of nominally DKK 0.10 each. Each share carries one vote.