White Pearl Technology Group acquires Lumi4ry AB
INSIDE INFORMATION
White Pearl Technology Group AB (WPTG) has today entered into a binding agreement to acquire 100% of the shares in Lumi4ry AB (“Lumi4ry”), a Swedish IT services provider. Lumi4ry, with a workforce of 100 people based in Stockholm, is expected to contribute with an annual revenue of approximately SEK 140 million and a profit of SEK 5 million. The purchase price amounts to SEK 9 million, paid in cash and a performance-based earn-out structure over 4 years, with potential additional consideration of up to SEK 11 million in WPTG shares. The acquisition strengthens WPTG’s presence in the Nordic market and creates significant synergy opportunitie
Transaction Highlights:
- Purchase price: Initial cash payment of SEK 9 million
- The performance-based earn-out structure over 4 years, with potential additional consideration of up to SEK 11 million in WPTG shares
The acquisition will be financed through existing cash resources and newly issued WPTG shares for the earn-out component. The earn-out structure is divided into four periods:
- Year 1: Up to SEK 2.75M in shares
- Year 2: Up to SEK 2.75M in shares
- Year 3: Up to SEK 2.75M in shares
- Year 4: Up to SEK 2.75M in shares
Strategic Rationale:
- Strengthens WPTG’s direct presence in the Swedish market
- Adds complementary IT service capabilities
- Creates cross-selling opportunities in the Nordic region
- Provides access to skilled IT professionals
- Expected to be earnings accretive from year one
Marco Marangoni, CEO of White Pearl Technology Group, commented: “The acquisition of Lumi4ry marks an important step in our Nordic growth strategy. Their strong client relationships and technical expertise complement our existing operations and will help accelerate our expansion in Sweden.”
Tony Lynden, CEO of Lumi4ry, added: “Joining WPTG provides an excellent platform for our continued growth. We look forward to leveraging WPTG’s international presence and broader service offering to benefit our clients.”
This information is such that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 10:00 CET on 24 February 2025.
For further information, please contact: Investor Relations White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age. It offers services ranging from ICT and system integration to business software and digital innovation.
WPTG Subsidiary Secures Multi-Year AI, Cyber Security, Fraud Detection Contract in Africa
Key Highlights: · Strategic contract with a value of SEK 100M · 3-year deal with a 2-year option to extend · Part of WPTG’s broader revenue optimisation initiative
White Pearl Technology Group AB (WPTG) subsidiary OmnitellTech today announced the award of a significant contract with a major metropolitan municipality in Southern Africa. Due to contractual confidentiality requirements, the specific municipality cannot be named at this time. The contract, for 3 years with an option to extend for a further 2 years, is worth over SEK 100M and forms part of WPTG’s strategic revenue optimisation initiative.
The contract encompasses AI-driven cyber security solutions with high margins, leveraging advanced data analytics capabilities over the multi-year engagement period.
Ibrahim Srour, Group COO of WPTG, commented: “This contract represents a significant milestone in our revenue optimisation strategy. By combining our innovative AI, Cyber Security and Fraud management expertise with our deep understanding of public sector needs, we’re creating new opportunities for metropolitan municipalities to enhance their revenue streams while improving citizen services.”
Stephen Thorne, Chief Architect of WPTG, added: “The Southern African market has shown strong demand for AI-driven Cyber Security solutions. These projects will demonstrate how technology can transform municipal revenue collection while enhancing citizen engagement. We’re excited to implement these solutions and create a model that can be replicated across other African markets.”
The project is expected to commence immediately and will contribute significantly to WPTG’s financial performance for the fiscal year 2025.
This information is regulated information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 11:00 CET on 14 February 2025.
For more information, please contact: Investor Relations Manager White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB: White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
White Pearl Technology Group AB terminates liquidity provider agreement
White Pearl Technology Group AB (“WPTG”) announces the termination of its liquidity provider agreement with Pareto Securities AB. The last day of liquidity support services will be February 5, 2025.
The purpose of the liquidity provider has been to increase the liquidity of stock trading and reduce the volatility of the Company’s stock to facilitate trading. The Company has assessed that the need for a liquidity provider is now limited and has, therefore, terminated the agreement.
For more information, please contact:
Investor Relations Manager White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB: White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 680 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
White Pearl Technology Group AB Reports Record 2024 Results with 29% Revenue Growth
White Pearl Technology Group AB (Nasdaq First North: WPTG), a leading global provider of digital transformation solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2024.
Full Year 2024 Highlights:
- Revenue increased 29.3% to SEK 309.70M (2023: SEK 239.56M)
- EBITDA rose 49.5% to SEK 50.47M (2023: SEK 33.76M)
- EBIT increased 51.4% to SEK 50.22M (2023: SEK 33.17M)
- Profit before extraordinary adjustments improved 84.1% to SEK 49.67M (2023: SEK 26.98M)
- Profit decreased 6.1% to SEK 25.34M (2023: SEK 26.97M)
- Earnings per share (EPS) improved 22% to SEK 0.97 (2023: SEK 0.80)
Fourth Quarter 2024 Highlights:
- Revenue grew 39.9% to SEK 83.76M (Q4 2023: SEK 59.80M)
- EBITDA increased 89.4% to SEK 14.67M (Q4 2023: SEK 7.70M)
- EBIT rose 94.2% to SEK 14.70M (Q4 2023: SEK 7.58M)
- Profit before extraordinary adjustments increased 278.3% to SEK 15.70M (Q4 2023: SEK 4.15M)
- Profit grew 465.2% to SEK 16.92M (Q4 2023: SEK 2.99M)
- Earnings per share (EPS) increased 378% to SEK 0.62 (Q4 2023: SEK 0.13)
Financial Position:
- Cash position strengthened to SEK 23.7M (December 2023: SEK 11.2M)
- The debt-to-equity ratio improved significantly to 0.51 (from 1.21)
- Current assets increased 13% to SEK 97M
Marco Marangoni, CEO of WPTG, commented: “Our 2024 results demonstrate the strength and diversity of our business model, with substantial improvements across all key metrics. The combination of reduced working capital, increased cash balance, and decreased group liabilities has delivered an impressive set of results. We are well-positioned to achieve our 2028 strategic goals, further validating that White Pearl’s business model continues to create substantial shareholder value.”
Significant Events Q4 2024 (October-December 2024)
Corporate Governance
- EGM held on November 8, 2024, approving warrant programs and share issuance authorisation
- Implementation of share option program for executives and board members (December 3)
- Strengthened senior leadership with Ashley de Klerk appointed as Executive VP and Ibrahim Srour as Group COO
Strategic Acquisitions
- Completed acquisition of 51% stake in OneBrain
- Acquired Nuport Sverige AB, adding world-class software consulting capabilities
- Completed directed share issue raising SEK 9.0M
Business Development
- ECC signed a SEK 7.1M contract with EgyptAir for digital transformation
- The board visited African operations, reinforcing the regional growth strategy
- Successful US investor presentations in New York
- Initiated OTC Markets listing process in the US
Significant Events After Reporting Period (January 2025)
Strategic Growth
- Signed LOI to acquire Lumin4ry Consulting AB (SEK 20M deal)
- Outlined technology-driven growth strategy led by AI innovation
- Projected revenue growth to SEK 700M by 2028 with >17% EBITDA margin
Technology Development
- Enhanced AI platform deployment across multiple sectors
- AI and proprietary platforms are projected to contribute SEK 45M in revenue in 2025
Outlook
The Company maintains a positive outlook for 2025, with strong growth prospects across its markets. A revised forecast and guidance will be issued later in the year.
Investor Conference Call
WPTG will host an investor conference call on February 3, 2025, at 13:00 CET. Management and Board members will discuss the results and answer questions from investors and shareholders. Registration is available at https://whitepearltech.com/earnings-call/
For the complete financial report, please visit our investor relations website at https://whitepearltech.com/wp-content/uploads/2025/02/Q4-Report-Final.pdf
For further information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
This information is regulated information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the contact person’s agency set out above at 08:00 CET on February 3, 2025.
White Pearl Technology Group AB: Q4 2024 Report Publication Brought Forward
White Pearl Technology Group AB is pleased to announce that the publication of its fourth quarter 2024 report has been brought forward to February 3, 2025, from the previously announced date of February 10, 2025.
The accelerated timeline reflects the efficiency of the Group’s reporting processes, allowing for earlier completion of the quarterly results.
For more information, please contact:
Investor Relations Manager White Pearl Technology Group AB Email: ir@whitepearltech.com Phone: +46 707 340804
The company’s Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB: White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
[Correction: The correction is regarding the wrong date and time in the MAR Label] WPTG Signs Letter of Intent to Acquire Lumin4ry Consulting AB in Significant Swedish Expansion
White Pearl Technology Group AB (WPTG) today announces signing a Letter of Intent to acquire 100% of Lumin4ry, a Swedish ICT staffing company. The transaction represents a significant step in WPTG’s growth strategy and expansion into the Nordics.
Deal Rationale:
- Swedish/Nordic based income for Group
- Enhances Swedish presence and management
- Diversification of Revenue Streams
- ICT staffing revenue complements existing project implementation, annuity, software and IP earnings of the group
- Cross-selling opportunities into Customer base in Nordics and across other WPTG markets globally
- Income shock absorber to the group aligned to the diversification strategy
Key Transaction Points:
- WPTG to purchase 100% of shares for consideration of SEK 20 million
- Lumin4ry is forecasting to earn revenues of over SEK 140 million in the current fiscal year
- Initial cash payment of SEK 9 million upon signing the final agreement
- Performance-based earn-out structure over four years
- Earn-out payments in WPTG shares linked to revenue and profit targets
- Deal structured to align long-term interests and retention of key Lumin4ry staff
Earnout Model:
- First Period (12 months): SEK 2.75M in shares (if earnout Y1 targets met)
- Second Period (24 months): SEK 2.75M in shares (if earnout Y2 targets met)
- Third Period (36 months): SEK 2.75M in shares (if earnout Y3 targets met)
- Fourth Period (48 months): SEK 2.75M in shares (if earnout Y4 targets met)
Additional Performance Incentives:
- Overachievement bonus: Sellers are eligible for 25% of profits from revenue exceeding cumulative targets over the four years, payable in cash at the end of the warrant period
Risk Assessment and Mitigation:
Profitability
- Risk: Initial profit margins
- Mitigation: Lumin4ry is forecasting a 5% profit margin in FY2024 with incremental increases over the next 5 years. Earn-out model protects shareholder value.
Business Focus
- Risk: Potential dilution of core business focus
- Mitigation: Lumin4ry complements WPTG expansion plans through earnings diversification and Nordic market opportunities
Margin Management
- Risk: Traditional staffing business margins
- Mitigation: WPTG’s increased focus on IP and software solutions will balance overall group margins
Revenue Stability
- Risk: Cyclical nature of staffing revenue
- Mitigation: Complementary revenue streams create a robust earnings model; the earn-out structure protects against volatility
Market Perception
- Risk: Staffing model perception
- Mitigation: Lumin4ry operates in stable Nordic markets with a 12+ year history of long-term blue-chip customer engagements
Marco Marangoni, CEO of WPTG: “The proposed acquisition of Lumin4ry aligns perfectly and accelerates our growth strategy. The structured earn-out demonstrates our confidence in Lumin4ry’s growth potential and further protects WPTG shareholders. Our acquisition model is becoming more robust and is designed to protect WPTG and its shareholders against unforeseen events.”
Tony Lydén, CEO of Lumin4ry: “We are excited to join the WPTG family and look forward to growing Lumin4ry and the group in the Nordics and contributing to the group’s growth globally. We aim to implement WPTG’s know-how and expertise to enhance Lumin4ry’s profitability and growth in the future.”
Integration Timeline:
- Due diligence is to be completed within 20 working days
- Sale of Share agreement to be signed within 7 working days after due diligence completion
- Initial closing expected by Q1 2025
This information is such that White Pearl Technology Group AB is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out below at 2025-01-19, 21:15 CET.
For further information, please contact: Investor Relations Manager White Pearl Technology Group AB.
Email: ir@whitepearltech.com
Phone: +46 707 340804
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
About Lumin4ry:
Lumin4ry is a Swedish IT consultancy combining deep theoretical expertise with extensive practical experience in solving complex client challenges. Founded over 15 years ago, the company has built a unique network of specialist IT consultants and industry experts. Lumin4ry’s consultants possess specific domain expertise across various IT sectors, leveraging their extensive professional networks and relationships with technology and service providers to deliver exceptional value to clients. The company’s distinctive approach to consulting is built on longstanding partnerships with both experts and clients, ensuring the delivery of sophisticated IT solutions that drive business transformation (www.luminary.se).
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
WPTG Signs Letter of Intent to Acquire Lumin4ry Consulting AB in Significant Swedish Expansion
White Pearl Technology Group AB (WPTG) today announces signing a Letter of Intent to acquire 100% of Lumin4ry, a Swedish ICT staffing company. The transaction represents a significant step in WPTG’s growth strategy and expansion into the Nordics.
Deal Rationale:
- Swedish/Nordic based income for Group
- Enhances Swedish presence and management
- Diversification of Revenue Streams
- ICT staffing revenue complements existing project implementation, annuity, software and IP earnings of the group
- Cross-selling opportunities into Customer base in Nordics and across other WPTG markets globally
- Income shock absorber to the group aligned to the diversification strategy
Key Transaction Points:
- WPTG to purchase 100% of shares for consideration of SEK 20 million
- Lumin4ry is forecasting to earn revenues of over SEK 140 million in the current fiscal year
- Initial cash payment of SEK 9 million upon signing the final agreement
- Performance-based earn-out structure over four years
- Earn-out payments in WPTG shares linked to revenue and profit targets
- Deal structured to align long-term interests and retention of key Lumin4ry staff
Earnout Model:
- First Period (12 months): SEK 2.75M in shares (if earnout Y1 targets met)
- Second Period (24 months): SEK 2.75M in shares (if earnout Y2 targets met)
- Third Period (36 months): SEK 2.75M in shares (if earnout Y3 targets met)
- Fourth Period (48 months): SEK 2.75M in shares (if earnout Y4 targets met)
Additional Performance Incentives:
- Overachievement bonus: Sellers are eligible for 25% of profits from revenue exceeding cumulative targets over the four years, payable in cash at the end of the warrant period
Risk Assessment and Mitigation:
Profitability
- Risk: Initial profit margins
- Mitigation: Lumin4ry is forecasting a 5% profit margin in FY2024 with incremental increases over the next 5 years. Earn-out model protects shareholder value.
Business Focus
- Risk: Potential dilution of core business focus
- Mitigation: Lumin4ry complements WPTG expansion plans through earnings diversification and Nordic market opportunities
Margin Management
- Risk: Traditional staffing business margins
- Mitigation: WPTG’s increased focus on IP and software solutions will balance overall group margins
Revenue Stability
- Risk: Cyclical nature of staffing revenue
- Mitigation: Complementary revenue streams create a robust earnings model; the earn-out structure protects against volatility
Market Perception
- Risk: Staffing model perception
- Mitigation: Lumin4ry operates in stable Nordic markets with a 12+ year history of long-term blue-chip customer engagements
Marco Marangoni, CEO of WPTG: “The proposed acquisition of Lumin4ry aligns perfectly and accelerates our growth strategy. The structured earn-out demonstrates our confidence in Lumin4ry’s growth potential and further protects WPTG shareholders. Our acquisition model is becoming more robust and is designed to protect WPTG and its shareholders against unforeseen events.”
Tony Lydén, CEO of Lumin4ry: “We are excited to join the WPTG family and look forward to growing Lumin4ry and the group in the Nordics and contributing to the group’s growth globally. We aim to implement WPTG’s know-how and expertise to enhance Lumin4ry’s profitability and growth in the future.”
Integration Timeline:
- Due diligence is to be completed within 20 working days
- Sale of Share agreement to be signed within 7 working days after due diligence completion
- Initial closing expected by Q1 2025
This information is such that White Pearl Technology Group AB is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out below at 08:00 CET on 18 January 2025.
For further information, please contact: Investor Relations Manager White Pearl Technology Group AB.
Email: ir@whitepearltech.com
Phone: +46 707 340804
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
About Lumin4ry:
Lumin4ry is a Swedish IT consultancy combining deep theoretical expertise with extensive practical experience in solving complex client challenges. Founded over 15 years ago, the company has built a unique network of specialist IT consultants and industry experts. Lumin4ry’s consultants possess specific domain expertise across various IT sectors, leveraging their extensive professional networks and relationships with technology and service providers to deliver exceptional value to clients. The company’s distinctive approach to consulting is built on longstanding partnerships with both experts and clients, ensuring the delivery of sophisticated IT solutions that drive business transformation (www.luminary.se).
The company’s Certified Adviser is Amudova AB, email: info@amudova.se, phone: +46 8 546 017 58.
Regulatory Release – Inside Information White Pearl Technology Group AB: Trading Update – Own Products and IP Drive Improvement in Gross Margins and Revenue at WPTG in 2024
White Pearl Technology Group AB (publ) provides a trading update for the fourth quarter and full year ending December 31, 2024
White Pearl Technology Group AB (publ) (“WPTG” or “the Company”) (Nasdaq First North: WPTG) announces a trading update for Q4 and the full year ending December 31, 2024. The Company’s focus on its products and intellectual property has significantly improved gross margins and revenue throughout 2024, a trend expected to persist.
Key Performance Indicators:
- Revenue growth of 23-28% for FY 2024 (FY 2023: SEK 239.6M)
- Gross margin improvement of 3-5 % (FY 2023: 37%)
- EBITDA growth of 32-37% during FY 2024 (FY 2023: SEK 33.7M)
- Cash and cash equivalents increased by over 100% during FY 2024 (Cash Dec 2023: SEK 11.2M)
In line with WPTG’s strategic commitment to operational excellence, gross margin significantly improved, increasing between 3 and 5% during 2024, compared to 36% in the same period last year. This improvement has primarily been driven by the selling of more IP solutions, the implementation of AI products for customers, and enhanced operational efficiency.
Ashley de Klerk, Group Executive VP, commented: “We believe these improvements and our focus on our own IP and AI products are sustainable and will continue to prioritise initiatives that drive long-term profitability. Looking ahead, we are confident in our ability to deliver continued value to our shareholders.”
Chetan Ottam, Group CFO, added: “We have seen a significant improvement in cash across the group driven by increases in revenue, profits and collections during 2024.”
Marco Marangoni, Group CEO, concluded: “WPTG continues to deliver significant shareholder value. With building blocks in place, we are excited about the future and foresee established trends continuing.”
Outlook
The Company maintains its strategic target of SEK 700M revenue with >17% EBITDA margin by 2028, supported by:
- Strong demand for WPTG IP and software solutions across all markets
- Increased adoption of WPTG’s AI solutions
The financial figures presented in this trading update are preliminary and unaudited. Complete results for Q4 2024 will be published on February 10, 2025.
This disclosure contains information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on January 16, 2025.
For further information, please contact: Investor Relations Manager WPTG AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The Company’s Certified Adviser is: Amudova AB
Email: info@amudova.se
Phone: +46 8 546 017 58
About White Pearl Technology Group AB White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
Forward-looking statements This announcement includes forward-looking statements that reflect the Company’s current views with respect to future events and financial and operational performance. These statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “will,” “may,” “should” and similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of WPTG to be materially different from those that may be expressed or implied by such statements.
WPTG subsidiary ECC signs digital transformation contract with EgyptAir
White Pearl Technology Group AB (WPTG) announces that its subsidiary ECC has signed a contract to drive EgyptAir’s digital transformation through SAP S4HANA implementation. The contract, valued at SEK 7.1 million, will be delivered over 12 months.
The contract covers EgyptAir Holding and its subsidiaries to establish a standardised digital platform to enhance business operations and lay the foundation for future growth. The implementation will accelerate business processes and enhance operational efficiency across business functions by creating a single integrated system for finance and operations.
EgyptAir, established in 1932, is one of Africa’s largest airlines and the country’s national carrier. The airline serves over 80 destinations across more than 50 countries, operating a modern fleet of approximately 70 aircraft. As a member of Star Alliance since 2008, EgyptAir has played a crucial role in connecting Africa with the global aviation network.
“This contract reflects ECC’s strong position in the aviation sector and our ability to deliver complex digital transformation projects,” says Marco Marangoni, CEO of WPTG. “EgyptAir’s choice of ECC for this strategic implementation demonstrates the trust major enterprises place in our capabilities.”
“This project represents a significant step in EgyptAir’s digital transformation journey,” says Osama Elsayed, ECC Founder & Co-CEO. “Our deep expertise in SAP implementations, combined with our understanding of the aviation sector’s unique requirements, positions us perfectly to deliver this strategic initiative.”
The project aims to provide real-time insight into key business metrics, eliminate inconsistencies between forecasts and actuals, and enable more efficient financial and controlling processes across EgyptAir’s operations. Key objectives include:
- Establishing a standardised platform for accountability and transparency
- Accelerating business processes and enhancing operational efficiency
- Creating a single integrated system for finance and operations
- Gaining real-time insight into key business metrics
- Eliminating inconsistencies between forecasts and actuals
- Enabling more efficient financial and controlling processes
For more information:
Marco Marangoni, CEO White Pearl Technology Group AB (publ)
E-mail: marco.marangoni@whitepearltech.com
Phone: +598 93 370 044
Investor Relations White Pearl Technology Group AB (publ)
E-mail: ir@whitepearltech.com
Phone: +46 707 340804
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation. For more information, see www.whitepearltech.com.
The Company’s Certified Adviser is Amudova AB
Box 5855, SE-102 40 Stockholm, Sweden,
Phone +46 (0)8-546 017 58,
E-mail: info@amudova.se
WPTG completes a directed share issue of 1,494,262 new shares, raising proceeds of approximately SEK 9.0 million
The board of directors of White Pearl Technology Group AB (publ) (“WPTG” or the “Company”) has today resolved to carry out a directed share issue of 1,494,262 new shares at a subscription price of SEK 6 per share, corresponding to a premium of approximately 13.2% compared to the volume-weighted average price (VWAP) for the WPTG share over the last 30 days, a premium of 4.35% compared to the 7-day VWAP, and a premium of 1.4% compared to the spot price. Through the directed share issue, WPTG will receive proceeds amounting to approximately SEK 8.97 million before transaction costs, which will be used to support the Company’s growth initiatives and expansion plans. Total transaction costs are estimated at SEK 55,000.
The board of directors of WPTG has today, based on the authorisation granted by the extraordinary general meeting on November 8, 2024, resolved to carry out a directed share issue with deviation from the shareholders’ preferential rights of 1,494,262 new shares to two strategic investors: Capmate AB and Yellowstone Investment Trust.
The subscription price has been determined through negotiations and agreements with the subscribing investors. The price, SEK 6.0, has been determined through negotiations with the investors, and the board of directors thus assesses that the subscription price fairly reflects prevailing market conditions and demand. Due to the current volatile market climate, compensation for guarantee commitments in a rights issue would likely exceed the value of the directed share issue. Therefore, the board assesses that the market value of the subscription price has been ensured. Payment of the subscription price shall be made in cash at the latest on December 20, 2024. The board of directors has the right to postpone the last date for payment.
The reasons for executing the directed issue and to deviate from the shareholders’ preferential rights are as follows:
The Company’s board has investigated and considered various financing alternatives, among other things, it has investigated the prerequisites for carrying out a successful rights issue (Swedish: Företrädesemission). Due to the prevailing market climate, the board considers that there are currently no suitable conditions for carrying out a rights issue on favourable terms. The board has noted that the majority of rights issues that have been carried out on the market have been negatively affected by the volatile market climate. In those cases where rights issues have been carried out, it has been noted that the market value of shares has fallen below subscription prices despite heavy discounts. As a result, the subscription rate outside of guarantee and subscription commitments has been low. It is, therefore, deemed beneficial to conduct a directed share issue to avoid exposure to price fluctuations in the market. Obtaining underwriting and guarantee commitments is a time-consuming and costly process. Taking into account that the subscription rate in rights issues on the market many times does not exceed the subscription and guarantee commitments, the board considers that it is not advantageous to pay compensation for the liquidity one expects to receive. Due to the above, the board does not consider it appropriate to carry out a rights issue under such conditions as described. The board assesses that a directed share issue ensures the most time- and cost-effective financing of the development of the Company.
The board also assesses that the signing investors have provided and are likely to continue to provide significant strategic, long-term value for the Company and its shareholders.
The board’s overall assessment is that the above-mentioned reasons outweigh the reasons that justify the main principle that issues must be carried out with applicable shareholders’ pre-emptive rights and that an issue with a deviation from shareholders’ pre-emptive rights is, therefore, in the interests of the Company and all shareholders.
Through the directed issue, the number of shares and votes in the Company increases by 1,494,262 from 27,425,476 to 28,919,738, and the share capital increases with SEK 32,874 from SEK 603,360 to SEK 636,234. The directed issue results in a dilution for existing shareholders of approximately 5.17% of the number of shares and votes in the Company, based on the total number of shares and votes in the Company after the directed issue.
This disclosure contains information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication through the agency of the contact person on 8 December 2024 at 22:15 CET.
For more information on White Pearl Technology Group, please contact:
Marco Marangoni, CEO
Phone: +598 93 370 044
E-mail: marco.marangoni@whitepearltech.com
Investor Relations White Pearl Technology Group AB
E-mail: ir@whitepearltech.com
Phone: +46 707 340804
About White Pearl Technology Group AB (publ):
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation. For more information, see www.whitepearltech.com.
White Pearl Technology Group AB (publ) is listed on the Nasdaq First North Growth Market.
The Company’s Certified Adviser is Amudova AB, Box 5855, SE-102 40 Stockholm, Sweden, tel: +46 (0)8-546 017 58, info@amudova.se
