Write-down of Shares in Subsidiaries

Stockholm - 2024-01-10

MyFirstApp Sweden AB (publ) ("MyFirstApp") has, with the principle of caution in mind, identified an impairment need in connection with the ongoing preparation of the financial statements. The board has decided on an impairment of the value of shares in the subsidiary MyFirstApp Group S AB and Oy 10Monkeys.com Ltd totaling approximately SEK 11.6 million. The impairment negatively affects the parent company's equity and results for the fourth quarter of 2023 but has no impact on the group's overall results. The impairment does not affect the company's cash flow.

After the impairment, the shares in the subsidiary MyFirstApp Group S AB will be recorded at a value of approximately SEK 14.3 million, and Oy 10Monkeys.com Ltd at a value of approximately SEK 9,0 million.

This information is information that MyFirstApp Sweden AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was provided by the above contact, for publication 2024-01-10

For further information, please contact:
Jesper Nord, CEO MyFirstApp Sweden AB (publ)
Mobile: +4673 329 13 29
Email: jesper@myfirstapp.com

MyFirstApp Sweden AB (publ)
MyFirstApp is an IT company. The company offers a range of digital services, mainly consisting of digital applications specifically tailored for children. These solutions are used by a number of preschools, where the apps are designed with varying levels of learning and personal development. The apps operate under different names and cover areas such as basic mathematics and cognitive abilities.