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Michael Moesgaard Andersen steps down from the Board of Directors of Penneo. Steffen Heegaard will be recommended as new member of the Board of Directors

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Company Announcement No. 17-2021
Copenhagen, 7 July 2021

Today, Michael Moesgaard Andersen has informed the Board of Directors of Penneo that he, as of today, has decided to step down from his position as member of the Board of Directors.

“I have been a member of the Board of Penneo since 2019 with the intention to contribute to the IPO and to the future growth of Penneo as a listed company. The purpose of my Board work has thus been successfully completed and I am proud of the significant next natural step for Penneo migrating to Nasdaq Copenhagen Main Marked (Company announcement No 16-2021)” says Michael Moesgaard Andersen.

Michael Moesgaard Andersen continues “Furthermore, my position as a member of the Board of Directors involves significant restrictions and regulatory requirements in relation to my options to buy or sell shares in Penneo. Parts of these restrictions cease when I am no longer serving on the Board”.

In connection with Michael Moesgaard Andersen's resignation from the Board of Directors of Penneo Chairman of the Board Christian Sagild says:
“It has been a great pleasure to work with Michael Moesgaard Andersen in the Board. Both the Board of Directors and the executive management team will take the opportunity to thank Michael for his valuable contribution to the IPO of Penneo and the subsequent organization of executing Penneo’s growth strategy”.

The Board of Directors recommends that Steffen Heegaard will be elected as a new member of the Board of Directors at the next ordinary shareholders meeting. Steffen Heegaard has more than 20 years of experience within capital market communication, IR and ESG, primarily from Topdanmark. As an independent board member, Steffen Heegaard will be a unique addition to the existing board competencies and a key contributor in realizing Penneo’s capital market aspirations.

Further information
Chairman of the Board, Christian Sagild
Mobile (+45) 21 41 04 87

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00

About Penneo A/S
Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automated solutions that digitizes company workflows related to the onboarding of customers (KYC), as well as signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive manner. Penneo has a strong position in the Nordic countries and in Denmark, where more than 620,000 persons used Penneo’s workflow in 2020.

For information about Penneo, please visit https://penneo.com/investors/
 

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