Fra Spenn Technology:
Publication of 2021 Interim Report26.8.2021 09:54:51 CEST | SPENN Technology A/S | Company Announcement Company Announcement 59 / 2020 26 August 2021 CVR nr.: 26518199 Publication of SPENN Technology A/S Interim Report 2021 (all amounts in DKK) The financial result in this announcement relates to SPENN Technology A/S which constitutes all the SPENN Technology AS Group’s (“the Group”) activities. The full 2021 H1 interim report is attached to this company announcement and available at the following link: https://investor.spenn.com/ The company’s 2021 H1 interim report has been approved by the Board of Directors today, 26 August 2021. The 2021 H1 interim report is unaudited. Financial summary for the 2021 H1 Interim Report The Group’s balance sheet as of 30 June 2021 shows a balance sheet total of t.DKK 188,238 and equity of t.DKK 184,897. The share capital as of June 30 2021 shows a total of 2,390,880,849 shares with a nominal value of DKK 0.10 per share. Key Figures for the Group
Main Activities of the Group Since its establishment in 2015, Blockbonds core focus has been to provide technology to banks based on a Software as a Service (SaaS) solution: SPENN. Through SPENN, which is built on blockchain technology, Blockbonds has developed an advanced financial platform build into a user-friendly mobile banking application, which targets financial inclusion by connecting the unbanked with the banked population, as well as businesses in the world. Netposten A/S provides financial news, stock comments, analyses and market data targeted private investors and traders. Share Swap Transaction with Blockbonds AS As a result of the transaction, the Company’s share capital increased nominally from DKK 1,006,103.4 to DKK 239,088,084.9. The Company is in the process of seeking approval for the listing of the new shares, pending Nasdaq approval Development in Financial activities Revenue for the period amounted to t.DKK 536. t.DKK 222 was generated through Blockbonds. Blockbonds’ rapidly growing application, SPENN, is currently fully operational in three African markets – Rwanda, Tanzania and Zambia. t.DKK 314 was generated through the operations of Netposten A/S. Employee expenses amounted to t.DKK -11,541 for the period as headcount in the Blockbonds group increased because of the continued growth of operations within the SPENN live markets. General and administrative expenses amounted to t.DKK -22,615 for the period. This includes capital raising costs of t.DKK -8,912 in relation to the capital raise completed by Blockbonds in the first half of 2021. IT and external service costs amounted to t.DKK -7,013 as spending increased on the SPENN IT infrastructure. Other general and administrative costs were incurred to support the growing global operations of the SPENN Technology A/S group. Assets Current assets at the period end were t.DKK 40,241. The Company had cash and cash equivalents on hand of t.DKK 38,892 as of 30 June 2021. The increase relative to 30 December 2020 is due to the successful capital raise in Blockbonds AS, completed during the first half of the year. Equity and Liabilities Current liabilities as of June 30, 2021, amounted to t.DKK 3,341, consisting largely of trade and other payables. Cash Flow and Investments Cash flow from investing activities for the period was t.DKK -2,643 largely because of increased spending on SPENN Business IT Infrastructure. Cash flow from financing activities for the period was t.DKK 69,448 as a result of the successful capital raise by Blockbonds AS. The total net cash flow for the period ending was t.DKK 30,808. Outlook for 2021 Post financial period events Uncertainty in recognition and measurement Foreign Subsidiaries Blockbonds AS, Norway Blockbonds Global Ltd, United Kingdom EAK SPENN Ltd, Kenya SPENN Rwanda Ltd, Rwanda SPENN Zambia Ltd, Zambia SPENN Tanzania Ltd, Tanzania
Financial Calendar
The company’s articles of association can be found on the company’s website: https://investor.spenn.com/ SPENN Technology A/S: For more information, please contact: Certified Advisor: Baker Tilly Corporate Finance P/S, Att: Gert Mortensen, Partner, Phone: +45 33 45 10 00, www.bakertilly.dk
About SPENN Technology A/SAbout SPENN Technology A/S 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 recently launched new integrated services in the platform and expects to launch more crypto services going forward. SPENN 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. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion. Following the purchase of Norwegian fintech company Blockbonds AS, SPENN Technology A/S is in what is referred to as a change of identity process. As such, we are required by Nasdaq to note that failure to conclude such process could mean that the company’s share could be de-listed. SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SPENN Technology AS Interim H1 2021 Report.pdf |