Clarification of Company Announcement No. 130
Company Announcement No. 131
With reference to company announcement 130 from 22. July 2024 regarding Tyrill AB's notification that the agreement with SPARK Technology AS to buy the company's shares in JengaX AS has been terminated and Tyrill AB will instead look at a replacement with a possible purchase of the assets in JengaX AS.
This means that SPARK Technology A/S' shares in JengaX AS are not included in the transaction with Tyrill AB. The separate value of SPARK Technology A/S' shares in JengaX AS in the Tyrill SPARK transaction was SEK 8M, out of SEK 210M. Which means that the total value of the transaction is SEK 202M. The part of the Tyrill SPARK transaction, of a cash amount of SEK 10M, will not be affected. It is the consideration in shares that will be reduced from SEK 200M to SEK 192M.
An agreement of sale of assets in JengaX AS will require an approval by the board of directors in JengaX AS as well as an approval from the general meeting in JengaX AS where SPARK Technology A/S currently owns 43 % of the shares.
As the negotiations between Tyrill AB and JengaX AS relating to purchasing assets has not been finished and agreed upon, SPARK Technology A/S, who is not a part in such an agreement, can't at this time give any additional information about the outcome of the contents in such agreement.
Certified Adviser
Company’s Certified Adviser is Baker Tilly Corporate Finance P/S (CVR-nr. 40073310), Poul Bundgaards Vej 1, 1., DK-2500 Valby, tlf. +45 3345 1000
For further Information, please contact:
Jens B. Glaso, CEO SPARK Technology A/S. Phone +47 40 40 47 50, e-mail: jens@spenn.com
SPARK Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 000
About SPARK Technology A/S
In a world where 1.7 billion people are still unbanked, SPARK Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology the company has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPARK Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.
The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has launched new integrated services in the platform and expects to launch more crypto services going forward.
SPARK Technology is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPARK Technology is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.
SPARK Technology A/S (under the name SPENN Technology) is listed on the Nasdaq First North Growth Market Denmark and on OTCQX in USA.
Ticker codes:
Europe – Nasdaq First North: SPENN
USA – OTCQX: SPNNF