Board-veteran and venture capitalist Arne Nabseth is up for election at White Pearl Technology Group’s next AGM

“Arne Nabseth brings deep industry knowledge from SAP business, along with extensive experience as a CFO and CEO and is currently om several listed companies board of Directors. His multifaceted background in the IT-industry, business development and finance will support our mission to grow the company group. Arne Nabseth is the perfect candidate to the WPTG Board”, says Anna Jiffer Weiner, head of the nominee committee and board member of WPTG.

The mission of the board for the coming years is to secure the company’s sustainable governance while supporting the group’s expansive growth trajectory, which includes both organic growth as well as mergers and acquisitions.

“I see an exciting potential in WPTG by combining and utilizing solutions, skills and resources cost-effectively over large geographies as in South America, Africa and Middle East to optimize customer delivery and service and support. As I have been involved in growing Technology companies cross-border and especially in the SAP area, I have both experience and network to contribute to this journey.” says Arne Nabseth.

Arne Nabseth has over 30 years of experience in finance and IT industries and a significant background in developing companies and businesses through entrepreneurship. He is currently serves on the board of two listed companies, Attana AB as Chairman and as board member of Dividend AB.

His career encompasses roles such as entrepreneur, CFO, investor, Board Member, and Venture Capitalist. He is experienced in venture capital from Ledstiernan, specializing in early-stage investments and buyouts within the IT and telecom sectors in particularly in SAP-management at Philips Electronics, KPMG, Bearing Point US, MAS, and Applicon.

Other members up for the vote at next AGM are:

Marco Marangoni, Group CEO

Marco brings extensive global leadership experience through strategic roles held at multinational technology firms such as SAP. During his 18-year tenure at SAP, Marco led billion-dollar partner ecosystems and high-performance sales teams, garnering deep expertise in driving enterprise growth across international markets. Degree in Administrative and Commercial Technical – ITC Milan, Italy. 

Sven Otto Littorin, Chairmen of the Board

Chairman of the board of Raytelligence AB, Innowearable AB, KlickData AB and of Landskapsbyggen i Sverige AB. Vice Chairman of AB Igrene (publ). Board member of Stadsholmen Equity AB and of Asolega Svenska AB. Previous assignments: Chairman of the board of BeowulfMining Plc and of Nordic Sustainability Trade Organisation. Board member of Afripods AB (publ), Clira AB, Sista versen 73922 and Sista versen 73923. CEO of Gibran Associates Ltd filial. BSc, Economics and Business, Lund University. 

Anna Jiffer Weiner, Board member

Experiences leading business development, product development and entrepreneurship in cross disciplinary environments from multiple industries. Currently holds several assignments as chairman and board member in companies such as HållbarTillväxt AB, Fortinova AB and Serendipity AB. MSc, Civil Engineering and MSc, Management Innovation and Entrepreneurship, Chalmers University of Technology. Nasdaq Main Market training. GCP, GMP, Clinical Trials and Ethical Rules, The Swedish Academy of Pharmaceutical Sciences. 

This information is such that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out below on 2024-06-20 9:00 CEST.

Comment to Press Release regarding unilateral liquidation application issued by Ayima

Subsequent to WPTG’s acquisition of Ayima  in March 2024, following a review of operations, WPTG injected a loan of 3 MSEK during April 2024 to enable Ayima to meet its cash commitments. This cash requirement was known at the time of the acquisition. WPTG’s investigations in June 2024 discovered that the cash requirements in Ayima’s business had increased substantially. WPTG requested more detailed information from Ayima on the 12th of June 2024 as grounds for a strategic decision on a possible injection of further loans to Ayima. Such information has not been presented to WPTG.

We hold the Board and Management of Ayima; CEO, Michael Jacobson, Chairman, Mike Nott and Board Member, Tim Webb solely responsible for the present situation and will seek to recover any financial losses that may be caused to WPTG.

WPTG, as a group, has a strong financial position. The loan of 3 MSEK is the only asset at risk, there are no further guarantees or other commitments to Ayima.

WPTG is currently evaluating the Ayima situation and will take appropriate action to protect the interests of its shareholders. Furthermore, the employees, customers and related stakeholders of Ayima remain WPTG’s primary concern. WPTG leadership will engage with the Administrator appointed by the District Court as soon as possible, with the objective of rescuing the business and fulfilling customer expectations.

This information is such that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out below on 2024-06-17 8:45 CEST.

White Pearl Technology Group updates Financial Calendar and postpones Annual Report 2023 and AGM

The Annual Report for 2023 will be published on July 5, 2024, and the AGM is rescheduled to July 29, 2024, instead of the previously communicated dates. 

A new Notice to the AGM will be published on the 28th of June 2024. 

Updated Financial Calendar 2024:

Dates in 2024

5th of July: Annual Report 2023

29th of July: Annual General Meeting

30th of August: H1 Report 2024

22nd of November: Quarterly Financial Update (not a report)

The full updated calendar is available on WPTG’s website: www.whitepearltech.com

White Pearl Technology Group comments on further postponing of AGM 2024 and Annual Report 2023

The Board and Management of WPTG have resolved to further postpone the Annual General Meeting (AGM) and the release of the Annual Report 2023 due to administrative reasons. Update to Board nomination process.

The group’s CEO, Marco Marangoni, comments on the situation: “- It is unfortunate that the annual report is delayed, and it is the responsibility of the management and the board to ensure that it is published on time. A series of circumstances, misinformation, and the fact that 2023 is the first year for WTPG as a public company have collectively led us to underestimate the time required in the process. Both the Board and I regret this. On the positive side I would like to stress that on the 26 February 2024 WPTG published a very strong Year-End Report for 2023 which demonstrated 31,3 % growth in net revenue to 239,6 MSEK and a net profit of 28,4 MSEK.”

As this is WPTG’s first year listed at Nasdaq First North Growth Market, the Board and Management are committed on making sure that all reporting, guidelines and instructions are fully implemented in all subsidiaries and across the Group, which operates in many countries on several continents.

The delay will also give the nomination committee more time to finalise nominations for the Board. The recent media reports regarding one of the company’s founders in connection with his nomination to the board of WPTG are as far as known to the Board, incorrect and otherwise previously known. Mr. Laher was sued by his former employer in 2019. Mr Laher is refuting this lawsuit and has never been indicted, prosecuted or convicted for any wrongdoing. Nevertheless, Mr. Laher has decided to withdraw his nomination to the Board. In no way is the withdrawal of Mr. Laher’s nomination to be construed as an acknowledgement of any wrongdoing on his part. 

Furthermore, WPTG has reported its previous Certified Advisor to Nasdaq for confidentiality breach and negligent misrepresentation. The company expects to appoint a new Certified Advisor shortly.

An updated financial calendar will follow. 

White Pearl Technology Group postpones Annual Report 2023

White Pearl Technology Group AB (WPTG) postpones the publication of the Annual Report for the Financial Year 2023 and adjusts its Financial Calender. More time was needed for translation to Swedish from English. 

The Annual Report for 2023 to be published on Friday, 7th of June 2024. 

Updated Financial Calendar 2024:

Dates in 2024

7th of June: Annual Report 2023

20th of June: Annual General Meeting

30th of August: H1 Report 2024

22nd of November: Quarterly Financial Update (not a report) 

28th of February: Year End Report 

The full updated calendar is available on WPTG’s website: www.whitepearltech.com

Termination av Certified Adviser

North Point Securities has per May 23, 2024, terminated the contract as Certified Adviser. The notice period is 6 months. Swedish North Point Securities AB will continue to act as Certified Adviser for the Company until November 23, 2024. Until then, the Company will look for the role regarding the position as Certified Adviser.

– We are thanking North Point Secruties for a good co-operation, says Marco Marangoni, Group CEO White Pearl Technology Group. Nasdaq has been informed and we will announce a new CA as soon as possible.

White Pearl Technology Group postpones Annual Report 2023

The Annual Report for 2023 to be published on Tuesday, 4th of June 2024. 

Updated Financial Calendar 2024:

Dates in 2024

4th of June: Annual Report 2023

20th of June: Annual General Meeting

31st of May: Quartley Financial update (not a report)

30th of August: H1 Report 2024

22nd of November: Quarterly Financial Update (not a report) 

The full updated calendar is available on WPTG’s website: www.whitepearltech.com

Notification of White Pearl Technology Group’s Annual General Meeting

Shareholders of White Pearl Technology Group AB, reg.nr 556939-8752 (the “Company“), are hereby invited to attend the Annual General Meeting on Thursday 20 June 2024, 9.00 CEST at Born Advokaters offices, Strandvägen 7A, 102 45 Stockholm.

REGISTRATION

Shareholders who wish to participate in the Annual General Meeting must:

• be included as a shareholder in the share register maintained by Euroclear Sweden AB regarding the status on 12 June 2024 and
• notify the Company of their and eventual proxies’ intention to attend the Annual General Meeting on Tuesday 18 June 2024 at latest. Notification can be made in writing to the address White Pearl Technology AB, Box 5216,102 45 Stockholm, by phone +46 8 6706557, or by e-mail ir@whitepearltech.com

Notification of participation must contain name/company name, personal or corporate identity number, address, phone number and, if applicable, information on a maximum of two representatives and/or deputies. Complete authorization documents such as registration certificates or equivalent must also be attached to the notification, where applicable, for example regarding legal entities.

NOMINIEE REGISTERED SHARES

Shareholders whose shares are held in the name of a nominee must, in order to have the right to participate in the meeting, request to be temporarily entered in the share register maintained by Euroclear Sweden AB. Such registration can be temporary (so-called “voting right registration”) and may be requested from the nominee in accordance with the nominee’s procedures at a time in advance as determined by the nominee. Voting right registration carried out not later than 14 June 2024 will be taken into account in the preparation of the share register.

PROXY-VOTING AND MORE

Shareholders who are represented by proxy must issue a written and dated power of attorney for the proxy or, in the event that the right to represent the shareholder’s shares is divided among different persons, the proxies, specifying the number of shares the respective proxy has the right to represent. The power of attorney is valid for a maximum of one year from issuance, or for the longer period of validity specified in the power of attorney, but no longer than five years from issuance. If the power of attorney was issued by a legal entity, a certified copy of the registration certificate or an equivalent document for the legal entity, that demonstrates authority to issue the power of attorney must be attached. The original power of attorney and any certificate of registration should be sent in good time before the meeting by letter to the Company at the above address. Proxy forms are kept available on the Company’s website no later than three weeks before the meeting.

PROPOSED AGENDA

1. Election of chairman of the meeting.
2. Preparation and approval of the voting list.
3. Approval of the agenda.
4. Election of one or two persons who shall approve the minutes of the meeting.
5. Determination of whether the meeting has been duly convened.
6. Presentation of the annual report and audit report as well as the consolidated report and consolidated audit report.
7. Resolution on:
   1. The adoption of the profit and loss statement and the balance sheet and, when applicable, the consolidated profit and loss statement and the consolidated balance sheet.
   2. The allocation of the Company’s profit or loss according to the adopted balance sheet.
   3. The members of the board of directors’ and the managing director’s discharge from liability.
8. Determining the number of board members and auditors.
9. Determining the fees for the board and the auditors.
10. Election of board members, board chairman and auditors.
11. Resolution to establish a nomination committee.
12. Closure of the meeting.

PROPOSAL FOR RESOLUTIONS

Item 1 – Election of chairman of the meeting

The board proposes that chairman of the board Sven Otto Littorin be elected chairman of the meeting.

Item 7 – b Resolution on the allocation of the Company’s profit or loss according to the adopted balance sheet

The board proposes that the company’s results according to the established balance sheet be balanced in a new account and that no dividend is thus paid.

Item 8-10 – Election of board members and auditor etc.

It is proposed that the board, for the time until the end of the next annual general meeting, shall consist of four (4) ordinary board members. Re-election is proposed of the ordinary board members Sven Otto Littorin, Marco Marangoni and Anna Weiner Jiffer, as well as new election of Ebrahim Laher. Sven Otto Littorin is proposed to be the chairman of the board.

Consideration to the board for the period until the end of the next annual general meeting is proposed to be paid with SEK 500,000 to the chairman of the board and SEK 200,000 to each other member who do not receive a salary from the Company.

It is proposed, for the time until the end of the next annual general meeting, the election of the audit company GO Revision & Consulting with the authorized auditor Johan Kaiser as the auditor in charge.

Consideration to the auditor is proposed to be paid on an ongoing basis, during the auditor’s election period, according to approved invoices.

Item 11 – Resolution to establish a nomination committee
It is proposed that the general meeting establishes a nomination committee for the Company.

Anna Weiner Jiffer is proposed to convene the Company’s three largest shareholders in good time before the next annual general meeting to establish the nomination committee, as well to act as the convener for the nomination committee.

OTHER

Processing of personal data

In connection with the notification to the general meeting, the Company will process the personal data requested as above regarding shareholders. The personal data collected from the share register, notification of participation in the general meeting as well as information about proxies and representatives will be used for registration, drawing up the voting list for the general meeting and, where applicable, meeting minutes. The personal data will only be used for the general meeting.

For further information on how your personal data is processed, please refer to the privacy policy available on Euroclear Sweden AB’s website:

https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

Documents

The annual report, audit report and documents according to the Swedish Companies Act will be available to the Company’s shareholders at the latest three weeks before the annual general meeting at the Company’s address, White Pearl Technology Group AB, Box 5216,102 45 Stockholm, on the Company’s website www.whitepearltech.com and sent to shareholders who so request and who states their postal address.

Information at the meeting

The shareholders are informed of their right to request information from the board and the managing director according to Chapter 7 Section 32 of the Companies Act.

Stockholm in May 2024

White Pearl Technology Group AB
The Board

This information was submitted for publication, through the agency of the board on the 20th of May, 2024, at 13.30 CEST.

WPTG signs further new business worth 9.2MSEK annually

This morning, a contract was signed for Digital Services to be provided to one of the largest banking and finance companies in the world, based out of San Francisco. The contract relates to marketing and technical support for the online banking division and commences immediately. The contract value over the 12-month term is approximately 9.2 MSEK, but the contract automatically renews for successive 12-month periods. This latest win brings the total new business signed in April to 140.3 MSEK.

This information is such that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out below on 2024-04-24 9.20 CEST.

White Pearl Technology Group signs major digital marketing contract

The contract is worth USD1.2M (13.1MSEK) per year and commences immediately.

Group CEO Marco Marangoni commented “This is a brilliant contract win for a global leader in its field, and adds to the growth momentum of the company group, following the major new business announcement earlier this week. This brings the total new business won by the group to 131.1 MSEK in April alone.”

This information is such that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out below on 2024-04-22 8.30 CEST.