Capital increase in connection with exercise of issued warrants and earn-out payment

Company announcement no. 7/2023
1 June 2023

The Board of Directors of Wirtek A/S issued 350,000 warrants in June 2020 following an authorisation given by the general meeting. Each warrant entitles the holder to subscribe for one Wirtek A/S share with a nominal value of DKK 0.15. The exercise price for the warrants was calculated at the time of issue to 5.35 DKK.

The vesting period was set to three years, and the warrants could be exercised by the holders in the first exercise period from 1 May to 15 May 2023. Instructions and payments have been received to exercise a total of 233,367 warrants by 33 warrants holders.

The Board of Directors of Wirtek A/S issued 250,000 warrants in June 2019 following an authorisation given by the general meeting. Each warrant entitles the holder to subscribe for one Wirtek A/S share with a nominal value of DKK 0.15. The exercise price for the warrants was calculated at the time of issue to 6.10 DKK.

The vesting period was three years, and the warrants could be exercised by the holders in the first exercise period from 1 May to 15 May 2022 where 28 warrants holders exercised 182,800 warrants. During the second exercise period this year, 1 May to 15 May 2023, an additional 19,000 warrants were exercised by 4 warrants holders. Instructions and payments have been received to exercise these 19,000 warrants.

The Board of Directors of Wirtek A/S issued 400,000 warrants in June 2018 following an authorisation given by the general meeting. Each warrant entitles the holder to subscribe for one Wirtek A/S share with a nominal value of DKK 0.15. The exercise price for the warrants was calculated at the time of issue to 3.87 DKK.

The vesting period was three years, and the warrants could be exercised by the holders in the first exercise period from 1 May to 15 May 2021 where 31 warrants holders exercised 343,500 warrants. During the second exercise period, 1 May to 15 May 2022, an additional 33,500 warrants were exercised by 5 warrants holders. During the exercise period this year, 1 May to 15 May 2023, an additional 14,000 warrants were exercised by 2 warrants holders. Instructions and payments have been received to exercise these 14,000 warrants.

In addition, Wirtek will issue 55,644 new shares, each with a nominal value DKK 0.15, to be transferred to the sellers of the CoreBuild acquisition as part of their 2022 earn-out. After this transaction, the CoreBuild acquisition will then have been paid in full.                

Today, the Board of Directors has decided to increase the capital related to the exercised warrants and earn-out payment to Corebuild sellers in accordance with the authorisations. The share capital of Wirtek will as a result be increased by a nominal amount of DKK 48,301.65 from DKK 1,119,331.80 to DKK 1,167,633.45. Dilution of the existing shareholders is 4.3%.

The new shares are expected to be admitted to trading and official listing on Nasdaq First North Growth Market Denmark after the formal issue. The first day of trading is expected to be no later than mid-June 2023.

Further information

• Michael Aaen, CEO, Wirtek A/S, Phone: +45 2529 7575, E-mail: ir@wirtek.com
  Niels Jernes Vej 10, 9220 Aalborg Ø, www.wirtek.com
• Kent Mousten Sørensen, Chairman, Wirtek A/S, Phone: +45 2125 9001
• Per Vestergaard, Certified Advisor, CDI Global, Phone: +45 2176 4317

About Wirtek

Wirtek A/S is a Danish IT consultancy company that provides software development, testing, and consultancy services to help clients worldwide. With a team of more than 200 talented professionals, Wirtek specializes in Digitalization, Energy, Workforce & Facility Management, Wireless Communication & Automation, and Trade & E-commerce.

At Wirtek, we prioritize building long-term client relationships, with some lasting over a decade. We believe that quality partnerships are just as important as software quality in achieving our client's goals. Established in 2001, we have offices in Denmark and Romania and have been listed on Nasdaq First North Copenhagen since 2006. 

Ticker Code: WIRTEK (DK0060040913)