DecideAct strengthens its balance sheet with a further DKK 4.1 million
DecideAct A/S [ACT], company announcement no. 02-2023:
This press release constitutes inside information that DecideAct A/S is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
DecideAct receives an additional investment of DKK 4.1 million at DKK 4.26 per share equal to the average weighted market price for the last 10 trading days. The investment is a boost to the Company’s capital base and will enable DecideAct to navigate with a steady hand in today’s turbulent markets and will be deployed to further ensure the long-term scaling of DecideAct.
The transaction: Software company DecideAct A/S (the Company) has agreed with its largest shareholder, Jens Munch (J. Munch Holding ApS) that he will invest a further DKK 3.7 million into DecideAct by way of a directed issue, and in addition to that the chairman and CEO join with a total amount of DKK 400,000 on the same terms. The transaction has been agreed upon at DKK 4.26 per share which is equal to the average weighted market price for the last 10 days. The capital increase results in the total issuance of 962,440 new shares, corresponding to 8,0% of the share capital after the transaction, and is executed by the Board by use of the existing authorization to perform directed issues in the Company’s Articles of Association. By agreeing with an investor who knows the Company well, the transaction is performed without any major distraction to management.
The purpose: With the comfort of knowing that the strategy is working, that the core team and the technology are in place, and that the customer/reference footprint is growing, the capital injection will provide the Company with the necessary funding to scale what works. DecideAct’s mantra is to aim for the optimal path to growth with agile and fast decision-making, but with caution and step-by-step. To raise the necessary capital, no more, no less.
Commenting on the capital injection, Jens Munch says: "DecideAct is developing in the right direction, and I am pleased to be able to contribute to the company's continued development by providing this additional capital."
CEO and Co-founder, Flemming Videriksen says: “We stand today with the greatest opportunity to make breakthroughs and to set new standards in the emerging industry of Strategy Execution Management Software. The management, board, and founders see the investment as a strong vote of confidence in DecideAct's concept and overall strategy, and it will help us to continue towards our goals."
The details: The private investor, Jens Munch (J. Munch Holding ApS), which before the current injection owned 36.67% of the share capital of the Company, will now, with the increase in share capital, own 40.96% of the shares of the Company. Due to the transaction, the total number of issued shares goes up from 11,065,946 to a new total of 12,028,386 and the share capital goes up from 1,106,594.60 to 1,202,838.60 based upon the nominal value of 0.10 DKK/share, which corresponds to a dilution of 8.0%.
The new shares will be identical to the existing shares and an application will be made for them to be admitted to trading on Nasdaq First North Growth Market, Denmark under the existing ISIN DK0061414471 and the ticker ‘ACT’, when the capital increase has been registered with the Danish Business Authority. The Company will inform the market when the capital increase has been registered. Gemstone Capital acted as Financial Adviser in this transaction.
The deadline for payment of the new shares is 14 days from today. Following the Company’s receipt of payment for the shares, the associated capital increase will be nominally DKK 96,244, which will raise DecideAct’s share capital from nominally DKK 1,106,594.60 to nominally DKK 12,202,838.60 divided into 962,440 shares of nominally DKK 0.10 each carrying one vote.
The Company will publish a company announcement when the capital increase has been registered with the Danish Business Authority.
About DecideAct A/S [ACT]: DecideAct is a provider of SaaS software and solutions that move manual execution and follow-up of strategy to a cloud-based Strategy Execution Management platform. By rethinking the way strategy is executed, DecideAct has created a groundbreaking tool that is relevant to all companies and organizations, public or private, in all industries, geographies, functional roles, and their mission-critical priorities related to achieving strategic goals. DecideAct’s vision is to modernize strategic leadership through technology.
Contact Information
Company:
CEO, Flemming Videriksen
+ 45 78756550
E-mail: ir@decideact.net
DecideAct A/S
Østre Kajgade 3, 3730 Nexø, Denmark
Financial Adviser:
Managing Partner Søren Jonas Bruun
+45 40561109
E-mail: sb@gemstonecapital.com
Certified Adviser:
Keswick Global AG
+ 43 1 740 408045
E-mail: info@keswickglobal.com