Company announcement no 9-2023

Copenhagen, may 4, 2023

Konsolidator expects to complete the capital injection during May 2023, and extends the subscription period of the private placement

Konsolidator has received loan offers and expects to complete the capital restructuring of DKK 33-35 million during May 2023. The loan offers are still pending final approval and negotiation. As a result, The Board of Directors has extended the subscription period of the directed share issue by 4 weeks until June 2, 2023. The investors in the private placement of DKK 18.5 million have accepted the extension.

Konsolidator announced on March 20, 2023 and on March 29, 2023 that the Board of Directors of Konsolidator exercised its authorization to increase the share capital (see company announcement no 5-2023). Further, Konsolidator announced that it has received subscription commitments for a total amount of DKK 18.5 million (see company announcement no 8-2023).

The subscription commitments are conditional on Konsolidator being able to achieve final approval on a long-term loan in the size of DKK 14.5-16.5 million.

The loan offers are still pending final approval and negotiation, and consequently the Board of Directors has extended the subscription period of the directed share issue by 4 weeks, ending 2 June, 2023. The investors have all accepted the extension of the subscription period and confirmed their existing commitment.

In the event that the conditions for this directed issue cannot be met and the loans completed as expected, it has been agreed with the investors that they will have the right to participate in any other capital increase with their commitment on the terms and conditions that may be determined in connection with such other capital increase. Such a right will expire upon refinancing of Konsolidator’s loan with Formue Nord. The proceeds will provide Konsolidator with positive equity, and sufficient cash to fully repay the current loan and to finance the operations and growth.

Repayment of Formue Nord
With the proceeds from the capital increase and the long-term loan Konsolidator will have enough funds to repay the loan to Formue Nord, which is expected to be fully repaid in Q2 2023.

Registration of capital increase
Subject to settlement, the new shares issued as a result of the directed issue will be registered at the Danish Business Authority, and the share capital will increase by the number of new shares subscribed where each share will have a nominal value of DKK 0.04. Today, the company has a registered share capital of nominal DKK 644,667 and with the full subscription the share capital will be nominal DKK 798,257.60.

The subscription amount shall be paid to Konsolidator no later than June 9, 2023. The new shares are expected to be admitted to trading on Nasdaq First North Growth Market Denmark on or before June 16, 2023.

The Q1 2023 report will be announced on May 4, 2023, with a full update of the business activities and key metrics.

Contacts

• CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsoldator.com
• CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com

Certified Adviser

• Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk
  
  

About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL