MapsPeople A/S announces change in management team

MapsPeople A/S |Changes board/management/certified advisors

Company Announcement No. 8- 2024

Aalborg, April 22, 2024

Strengthening momentum, focus  and execution of Strategy

Today, MapsPeople announces changes to its management team, to strengthen our momentum and increase the speed of executing the strategy through additional focus, high alignment, and simpler decision making processes.

MapsPeople will combine the Product and Technology organizations to generate better alignment on the product strategy and roadmap, through a clearer decision making process throughout all the functions. It is also mandated to derive and articulate how to further accelerate the use of AI both inside the product(s) and the way MapsPeople works and conducts the software development. 

MapsPeople will also adjust the Commercial organization, fine tuning the way it  works, to pick up pace in the efforts to make smart building partners at the center of what the company does in a well structured and efficient manner. 

MapsPeople announces change in management team
The effect of this is that Chief Technology Officer Jesper Winther will leave the company and the Technology function and product function will be combined under the leadership of Christian Christensen the current Chief Product Officer who will assume the role as Chief Product and Technology Officer.

Chief Commercial Officer Jannik Brouwers will also be leaving the company and the executive sales leadership team will report directly to CEO Morten Brøgger.

The company is grateful to both Jannik and Jesper for their contributions to MapsPeople over the past years.

For additional information, please contact

MapsPeople A/S

Morten Brøgger, CEO

Mobile (+45) 31 23 48 72

Email [email protected] 

Stigsborgvej 60, 9400 Nørresundby

Denmark

Certified Advisor

Grant Thornton

Jesper Skaarup Vestergaard

Mobile (+45) 31 79 90 00

Stockholmsgade 45

2100 Copenhagen Ø

Denmark

IMPORTANT INFORMATION

This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.

This announcement does not constitute an offering circular, company description or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople except as described in this company announcement.

Neither the existing shares of MapsPeople (the "Existing Shares") nor the New Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the Existing Shares nor the New Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Private Placement is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication up of a prospectus, registration or other measures.

Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. MapsPeople has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.