Mapspeople announces result of rights issue - The rights issue has been fully subscribed

Nasdaq First North Growth Market Denmark

Company announcement no. 16-2024

Aalborg, 3 September, 2024

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Announcement regarding result of offering of new shares with pre-emptive rights

On 12 August 2024, MapsPeople A/S announced in company announcement no. 14-2024 an offering of up to 18,012,589 new shares (the "New Shares") in the company by increasing the share capital with up to a nominal amount of DKK 360,251.78 with pre-emptive rights (the "Pre-emptive Rights") for the existing shareholders at a subscription price of DKK 2.00 per 1 new share.

The subscription period for the New Shares ended on 30 August 2024. At the end of the subscription period, Pre-emptive Rights and binding orders had been exercised for a total of 5,443,993 New Shares, corresponding to 15,1% of the rights issue. In addition, MapsPeople A/S had received guarantee commitments from  guarantors, as described in company announcement no. 14-2024, for 13,264,706  New Shares, bringing the total subscribed amount to DKK 37,417,398 which is over the maximum amount. Consequently, the guarantors’ subscription will be reduced equally, so the total gross proceeds of the rights issue amounts to (the maximum) DKK 36,025,178 for MapsPeople A/S. 

18,012,589 New Shares of DKK 0.02 will be issued and the share capital be increased from a nominal value of DKK 1,621,133.08 with a nominal value of DKK 360,251.78 to a nominal value of DKK 1,981,384.86. 

On the result of the rights issue, CEO Morten Brøgger says the following:

"I am very pleased that MapsPeople has completed the capital increase in such an impressive way with support from many existing shareholders and some really impressive new shareholders. We now have the capital to both continue our high organic growth rates and an option to identify smaller acquisition opportunities that can further accelerate our growth, and accelerate our trajectory to become cash flow breakeven and profitable. This is important to me and to MapsPeople in order to secure our global leadership position for the coming years in this exciting high growth industry”

The registration with the Danish Business Authority of the New Shares is expected to take place on 5 September 2024. The New Shares will be issued through VP Securities A/S (Euronext Securities Copenhagen) immediately thereafter under the interim ISIN code DK0063180450 which will not be admitted to trading, but will be merged with MapsPeople A/S' existing ISIN code DK0061549052, which is expected to take place on 10 September 2024.

The New Shares are expected to be admitted to trading under MapsPeople A/S' existing ISIN code on 9 September 2024.

After completion of the rights issue, MapsPeople A/S will have a nominal share capital of DKK 1,981,384.86 divided between 99,069,243 shares of DKK 0.02 each. 

Any inquiries regarding this announcement should be directed to:

MapsPeople A/S

Morten Brøgger, CEO

Mobile  (+45) 31 23 48 72

Email [email protected]

Stigsborgvej 60, 9400 Nørresundby

Denmark

Certified Advisor

Grant Thornton

Stockholmsgade 45

2100 Copenhagen Ø

Denmark