MapsPeople A/S: Share capital increase upon bonus share issuance
MapsPeople A/S | Issuance of bonus shares
Company Announcement No. 13 - 2022
Aalborg, August 30, 2022
Increase in share capital and number of votes due to bonus share issuance
With reference to section 12.1.5 of the Prospectus (available on https://investors.mapspeople.com/), the Board of Directors has introduced an employee share program covering the period June 1st, 2021 to May 31st, 2022 for all full-time employees at the Company and its subsidiaries at the time of the IPO in 2021. The employee share program has provided a possibility for the employees to have part of their salaries paid in MapsPeople shares. The maximum number of shares which was made available for the employee share program is 722,230, of which 372,758 shares are now due to be transferred to the 47 employees who are participating in the share program.
According to the terms of the employee share program, MapsPeople is obligated to transfer the shares to employees participating in the share program following the publication of the 2022 half-year financial report.
Consequently, the Board of Directors has today partly exercised its authorization pursuant to section 3.1.4 of the articles of association to increase MapsPeople’s share capital by issuance of 372,758 bonus shares with a nominal value of DKK 0.02 per share without pre-emption rights for MapsPeople’s existing shareholders, equivalent to a total nominal value of DKK 7,455.16.
Following the decision of the Board of Directors, the remaining authorization pursuant to section 3.1.4 of the articles of association amounts to a nominal value of DKK 41,248.84.
The issuance of bonus shares is completed by way of transferring to the share capital an amount of DKK 7,455.16, which was recorded as retained earnings according to the 2021 annual report.
As a result of the capital increase, the share capital of MapsPeople will be increased by a nominal amount of DKK 7,455.16 from DKK 1,102,928.00 to DKK 1,110,383.16. The number of shares and votes will be increased from 55,146,400 to 55,519,158.
The capital increase is expected to be registered with the Danish Business Authority (Erhvervsstyrelsen) on August 30, 2022. The new shares are expected to be admitted to trading on Nasdaq First North Premier Growth Market Denmark no later than September 5, 2022 under the ISIN code of MapsPeople’s existing shares (DK0061549052).
The new shares will rank pari passu with the existing shares in MapsPeople. The new shares will be negotiable instruments, and no restrictions will apply to their transferability. No shares, including the new shares, carry any special rights. The rights conferred by the new shares, including voting and dividend rights, will apply from the date when the capital increase is registered with the Danish Business Authority. The new shares are to be registered in the name of the holder in MapsPeople’s register of shareholders.
Source: MapsPeople