OSLO, NORWAY – 1 December 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 30 November 2023, regarding the commencement of the subscription period in a new issue of units (the "Units"), consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). The shareholders of the Company on 22 November 2023 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, as at the expiry of 24 November 2023 (the "record date") was granted one (1) subscription right (the "Subscription Rights") for each share registered as held by the shareholder as of the record date. One (1) Subscription Right is required to subscribe for one (1) Unit.
The following primary insiders of the Company have today, on 1 December 2023, exercised the following number of Subscription Rights in the Rights Issue, and thereby subscribed for the number of Units to which the number of Subscription Rights exercised entitles them to be allocated upon completion of the Rights Issue.
Please see the attached notifications of transactions for further information.
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This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
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For further information, please contact:
Danielle Glenn, CFO and Head of IR
E-mail: ir@zwipe.com
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 28 NOVEMBER 2023 – Reference is made to the stock exchange announcement published by Zwipe AS ("Zwipe" or the "Company") on 8 November 2023, in which the Company announced that its board of directors has resolved to propose that the Company carries out a new issue of units, each consisting of one new share in the Company, each with a nominal value of NOK 0.10 and one warrant of series T01 (the "Warrants"), with preferential rights for existing shareholders per unit (the "Units"), amounting to approximately NOK 35 million (the "Rights Issue"). The subscription price in the Rights Issue is NOK 0.60 per Unit on Euronext Growth Oslo and SEK 0.59 per Unit on Nasdaq First North Growth Market Sweden, based on the European Central Bank's published exchange rate on 7 November 2023 (the "Subscription Price").
Reference is further made to the stock exchange announcement published by the Company on 24 November 2023 where the Company announced that the prospectus pertaining to the Rights Issue had been approved and registered by the Swedish Financial Supervisory Authority (the "Prospectus"). The Prospectus has also been passported to Norway.
Availability of the prospectus:
Subject to applicable local securities laws, the prospectus for the Rights Issue is available on the Company's website www.zwipe.com and will also be available on the Swedish Financial Supervisory Authority's website, www.fi.se.
Eligibility:
The shareholders of the Company on 22 November 2023 (the "Eligible Shareholders") (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, (the "VPS") as at the expiry of 24 November 2023 (the "Record Date") has been granted one (1) subscription right for each share registered as held by the shareholder as of the Record Date (the "Subscription Rights"). One (1) Subscription Right is required to subscribe for one (1) Unit. Each Unit consists of one (1) new share and one (1) Warrant. The Subscription Rights will be registered on each Eligible Shareholders' VPS account.
Allocation of Subscription Rights:
One Subscription Right provides preferential right to subscribe for, and be allocated, one Unit at the Subscription Price (subject to applicable law in the relevant jurisdiction of an Eligible Shareholder). Eligible Shareholders will be allocated one (1) Subscription Right for every one (1) existing share registered as held by such eligible shareholder as of the Record Date. For a description of the allocation procedure, acquisition and/or exercise of Subscription Rights, reference is made to the section headed "Terms and Conditions of the Offering" under sub-heading "Allocation of the Units" in the Prospectus.
Subscription Period: The subscription period in the Rights Issue taking place on Euronext Growth Oslo will commence at 09:00 hours (CET) on 28 November 2023 and expire at 16:30 hours (CET) on 13 December 2023. The subscription period in the Rights Issue for the part of the Rights Issue taking place on Nasdaq First North Growth Market Sweden will commence at 09:00 hours (CET) on 28 November 2023 and expire at 16:30 hours (CET) on 12 December 2023.
Trading in Subscription Rights: The Subscription Rights will be listed and tradable on the Oslo Stock Exchange under the ticker "ZWIPT" from 09:00 hours (CET) on 28 November 2023 to 16:30 hours (CET) on 7 December 2023 on Euronext Growth Oslo and Nasdaq First North Growth Market Sweden. Subscription Rights that are not used to subscribe for Units or sold before the expiry of the Subscription Period will have no value and will lapse without compensation to the holder. The Subscription Rights may have economic value if the Company's shares trade above the Subscription Price during the Subscription Period.
Change in share capital, number of shares and dilution:
Based on the outstanding number of shares as of today, the share capital in the Company increases through the Rights Issue by a maximum of NOK 5,841,373.20, from NOK 5,841,373.20 to a maximum of NOK 11,682,746.40, through the issuance of a maximum of 58,413,732 shares. The number of shares increases from 58,413,732 to a maximum of 116,827,464 shares. For existing shareholders who do not participate in the Rights Issue, this implies a dilution effect of 50.0 percent in the case of full subscription.
Upon full subscription in the Rights Issue and subsequent subscription of NOK 5 million in the Convertible Loan (as defined below), the number of shares will increase by a further 6,410,256 to 123,237,720 shares and the share capital by NOK 641,025.60 to NOK 12,323,772.00 given full conversion of the Convertible Loan.
In the event that all outstanding warrants issued in the Rights issue are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by a further 29,206,866 to a total of 152,444,586 shares and the share capital will increase by NOK 2,920,686.60 to a total of NOK 15,244,458.60.
In the event that all outstanding warrants issued in connection with the Convertible Loan are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by a further 3,205,128 to a total of 155,649,714 shares and the share capital will increase by 320,512.80 to a total of 15,564,971.40 SEK.
Subscription Price:
The subscription price in the Rights Issue is NOK 0.60 per Unit on Euronext Growth Oslo and SEK 0.59 per Unit on Nasdaq First North Growth Market Sweden, based on the European Central Bank's published exchange rate on 7 November 2023.
Pre-commitment and bottom guarantee commitments:
In connection with the Rights Issue, the Company has received subscription commitments from a number of existing shareholders totaling approximately NOK 8.8 million, corresponding to approximately 25 percent of the Rights Issue. No compensation is paid for these subscription commitments.
In addition, Zwipe has received so-called bottom guarantee commitments of approximately NOK 15.8 million. Through the bottom guarantees, provided that subscription takes place to an amount at least equivalent to the subscription commitments, approximately 70 percent of the issue proceeds in the Rights issue is secured. For the so-called bottom guarantees, a compensation of thirteen (13) percent of the guaranteed amount is paid. The subscription commitments and bottom guarantee commitments are not secured by bank guarantee, escrow funds, pledging or similar arrangements. Detailed information regarding the parties that have entered into subscription commitments and guarantee undertakings can be found in the Prospectus.
Top guarantee commitment and new issue of the Convertible Loan and Warrants pursuant to the top guarantee commitment
Zwipe has received a so-called top guarantee of approximately NOK 10.5 million. Through the top guarantee, provided that subscription takes place to an amount at least equivalent to the subscription commitments and the bottom guarantee commitments, 100 percent of the issue proceeds in the Rights Issue is secured. For the so-called top guarantee, a compensation of fifteen (15) percent of the guaranteed amount is paid. The top guarantee commitment is not secured by bank guarantee, escrow funds, pledging or similar arrangements. In the event that the top guarantor needs to fulfill its top guarantee commitment, the subscription amount shall be paid to the Company by the top guarantor subscribing for a convertible loan in the Company of up to approximately NOK 10.5 million (the "Convertible Loan"). The total subscription price for the Convertible Loan will be equivalent to the total subscription price of the Rights Issue, minus the subscription price of the units subscribed by the existing shareholders of the Company and the units subscribed by the bottom guarantors. However, the subscription price shall not be less than NOK 5.0 million. For instance, if the Rights Issue is subscribed to 75%, the top guarantor will subscribe in the Convertible Loan for 25% of the Rights Issue. If the Convertible Loan is subscribed to 95%, the top guarantor will subscribe for 5% of the Rights Issue, adjusted up to an amount equal to base amount of NOK 5.0 million. This means that the total potential funds raised in the Rights Issue and the Convertible Loan could amount to approximately NOK 40.0 million in aggregate. The Convertible Loan carries an annual interest rate of 10 percent + STIBOR 3M of the loan amount. The interest will be paid by the Company quarterly in cash. The maturity date of the Convertible Loan is 20 December 2024, to the extent conversion has not taken place before such date. The conversion price is 130 percent of subscription price in the Rights issue, which is equal to NOK 0.78 per share. The top guarantor will also have the right and obligation to subscribe for Warrants free of charge in relation to the subscription price for the Convertible Loan. The number of Warrants the top guarantor shall be entitled to subscribe for will amount to the maximum number of Units in the Rights Issue less the aggregate number of Units subscribed for by existing shareholders in the Company and Units subscribed for under the bottom guarantee commitments divided by 0.78. Detailed information regarding the top guarantor can be found in the Prospectus.
Financial Intermediaries: If an Eligible Shareholder holds shares in the Company registered through a financial intermediary as of expiry of the Record Date, the financial intermediary will customarily give the Eligible Shareholder details of the aggregate number of the Subscription Rights to which they will be entitled. The relevant financial intermediary will customarily supply each Eligible Shareholder with this information in accordance with its usual customer relations procedures. Eligible Shareholders holding their shares in the Company through a financial intermediary should contact the financial intermediary if they have received no information with respect to the Rights Issue.
Listing and Commencement of trading of the new shares: Subject to timely payment of the entire subscription amount in the Rights Issue, it is expected that the new shares will be issued and delivered to the VPS accounts of the subscribers to whom they are allocated on or about 28 December 2023. The new shares allocated in the Rights Issue are expected to commence trading on Euronext Growth Oslo and Nasdaq First North Growth Market Sweden on or about 28 December 2023.
DNB Bank ASA, Issuer Services, is acting as receiving agent in the Rights Issue.
Advokatfirmaet Schjødt AS is acting as the Company's legal adviser in connection with the Rights Issue.
For further details of the terms of the Rights Issue, please refer to the Prospectus.
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This information is published in accordance with the requirements of the
Continuing Obligations set out in Euronext Growth Rule Book Part II for Euronext
Growth Oslo.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
#####
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
#####
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO RUSSIA, BELARUS, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION WHERE SUCH ACTION IN WHOLE OR IN PART WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES IN ZWIPE AS. SEE THE "IMPORTANT INFORMATION" SECTION BELOW.
OSLO, NORWAY - 24 NOVEMBER 2023 - Zwipe AS (“Zwipe” or the “Company”) announces that the prospectus relating to the Company’s rights issue of units consisting of shares and warrants (the “Rights Issue”) has been approved and registered by the Swedish Financial Supervisory Authority and is available on the Company’s website www.zwipe.com and will also be available on the Swedish Financial Supervisory Authority’s website, www.fi.se.
The prospectus can be ordered from Zwipe by e-mail: ir@zwipe.com subject to certain legal restrictions. The prospectus is available on the Company’s website, https://www.zwipe.com/investors/reports, and will also be available on the Swedish Financial Supervisory Authority’s website, http://www.fi.se.
Timetable for the Rights Issue
Advisors
Hagberg & Aneborn Fondkommission is the financial advisor and Advokatfirman Schjødt is the legal advisor to Zwipe in connection with the Rights Issue.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 13.00 CET on 24 November 2023.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
##########
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus regarding the Rights Issue described in this press release has been registered with the Swedish Financial Supervisory Authority and is kept available at, inter alia, Zwipe's website.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
Issuer name: Zwipe AS
Ex. date: 23 November 2023
Type of corporate action: Rights issue
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
########
This is information that Zwipe AS is obligated to make public pursuant to the
continuing obligations of companies admitted to trading on Euronext Growth Oslo.
########
For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
OSLO, NORWAY – 22 November 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") on 8 November 2023 and the notice dated 8 November 2023 of an extraordinary general meeting in the Company to be held on 22 November 2023 (the "EGM").
All the items on the agenda were addressed and approved. Attached are the minutes of the EGM. The attendants of the EGM represented 33.26% of the votes in the company.
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This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 12:00 on 22 November 2023.
######
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit http://www.zwipe.com.
######
For more information, please contact
Danielle Glenn
CFO and Head of IR, Zwipe AS
E-mail: ir@zwipe.com
OSLO, NORWAY – 8 NOVEMBER 2023 - Reference is made to the stock exchange announcement published by Zwipe AS (the "Company" or "Zwipe") earlier on 8 November 2023, regarding a contemplated rights issue in the Company, raising gross proceeds of approximately NOK 35 million (the "Rights Issue”). In relation thereto, the Board of Directors of Zwipe (the "Board") calls for an Extraordinary General Meeting (the "EGM") to be held on 22 November 2023 at 10:00 (CET). The general meeting will be held as a virtual meeting on Microsoft Teams.
Please find attached the notice to the EGM. The notice is also available on the Company's website, https://zwipe.com/investors.
The deadline for registration of attendance, proxies and advance voting for direct shareholders is 21 November 2023 at 16:00 hours (CET). Holders of nominee registered shares must register attendance, proxies and advance voting no later than within 20 November 2023 at 16:00 hours (CET). Shareholders are encouraged to register their notice of attendance and proxies via the link found here: https://zwipe.com/investors/general-meetings
Alternatively, the attached notice of attendance and proxy forms may be sent by e-mail to genf@dnb.no, or by regular post to DNB Bank ASA, Registrar's Department, P.O.Box 1600 Sentrum, 0021 Oslo, Norway.
In order to receive the link to the Microsoft Teams meeting, Zwipe's administration will need to have the shareholder's or proxy holder's e-mail address in advance. Thus, shareholders must after having registered their attendance also register their or its proxy's e-mail address by sending an email to ir@zwipe.com.
The Board has proposed the following agenda:
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com.
########
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book – Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 15:00 CET on 8 November 2023.
########
For more information, please contact:
Danielle Glenn, CFO and Head of IR
ir@zwipe.com
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
Reference is made to the stock exchange announcement published by Zwipe AS ("Zwipe" or the "Company") on 8 November 2023, in which the Company announced that its board of directors has resolved to propose that the Company carries out a new issue of units, each consisting of one share and one warrant, with preferential rights for existing shareholders amounting to approximately NOK 35 million (the "Rights Issue").
Date on which the terms and conditions of the rights issue were announced: 8 November 2023
Ex-date: 23 November 2023
Date of approval: 22 November 2023
Record Date: 24 November 2023
Maximum number of new shares: 58,413,732
Maximum number of new warrants: 58,413,732
Subscription price per share: 0.60 per share
Ratio preferential rights: One right per share held in the Company
Subscription ratio: One right entitles the holder to subscribe for one share and one warrant
Manager and bookrunner: Hagberg & Aneborn Fondkommission AB
Settlement agent: DNB Bank ASA
Will the rights be listed: The Company will apply for listing of the rights on Euronext Growth and Nasdaq First Growth Market
ISIN for the rights: To be announced when assigned
Other information:
The Rights Issue is structured in a manner where each right gives the holder the right to subscribe for one share and one warrant (Norwegian: frittstående tegningsrett), with a combined subscription price of NOK 0.60, representing a subscription price per share of NOK 0.60 and no consideration for the warrant. Each warrant holder may exercise all or some of its warrants in the period beginning on 2 December 2024 and ending on 13 December 2024. Two warrants give the right to require issue of one ordinary share. Exercise shall be carried out by written notice, which shall be received by the Company within the abovementioned exercise period. The subscription price upon exercise of the warrants shall for subscription of one share in the Company be 70% of the ten-day VWAP (Volume Weighted Average Price) Company's shares on Euronext Growth Oslo the last ten (10) trading days prior to commencement of the Exercise Period, but never lower than NOK 0.10 per share and never higher than 1.20 per share.
Out of the maximum number of new shares to be issued in the rights issue, a maximum of 14,367,509 new shares will be issued to the part of the shareholder based which trades shares in Norway through Euronext Securities Oslo (VPS) (the "Norwegian Offering"), and a maximum of 44,046,223 new shares will be issued to the part of the shareholder based which trades shares in Sweden through Euroclear Sweden AB (the "Swedish Offering"). The split is based on the relationship between the trade in the two countries as per the end of 7 November 2023, and there will from and including 7 November 2023 temporarily be imposed a block for repositioning of trading in the shares in the Company between the two systems until and including the record date in the Rights Issue.
In the Swedish Offering, the subscription price of NOK 0.60 shall be settled in SEK, and will be fixed at SEK 0.59, based on the European Central Bank's published exchange rate on 7 November 2023. According to the Norwegian Private Limited Liability Companies Act (the "NPLCA") regulations, settlements in a currency other than NOK are considered as an in-kind contribution, and the Board has in this respect prepared a statement in accordance with the NPLCA Section 2-6, cf. Section 10-2, which will be confirmed by the Company's auditor, BDO AS. The Board's statement with the auditor's confirmation, will be made available at the Company's website: www.zwipe.com.
This information is published in accordance with the requirements of the continuing obligations for issuers listed on Euronext Growth.
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SWITZERLAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN ZWIPE AS. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
OSLO, NORWAY – 8 NOVEMBER 2023 - The board of directors (the "Board") of Zwipe AS ("Zwipe" or the "Company") has today, 7 November 2023, resolved to propose that the Company carries out a new issue of units, consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35.0 million (the "Rights Issue"). Approximately NOK 24.5 million of the Rights Issue is guaranteed through subscription commitments and so-called bottom guarantee commitments. Furthermore, the Company has received a so-called top guarantee commitment of an amount corresponding to approximately NOK 10.5 million. In the event that the top guarantor needs to fulfill its top guarantee commitment, the subscription amount shall be paid to the Company by the top guarantor subscribing for a convertible loan in the Company (the "Convertible Loan"). Thus, the Board has also resolved to propose that the Company carries out a new issue of the Convertible Loan of up to approximately NOK 10.5 million. The subscription commitments, the bottom guarantee commitments and the top guarantee commitment, entail that the Company shall receive at least approximately NOK 35.0 million before issue costs in connection with the Rights Issue. The Rights Issue and the new issue of the Convertible Loan requires approval by the extraordinary general meeting of the Company expected to be held on 22 November 2023 (the "EGM") to be implemented. The notice of the EGM will be published in a separate press release.
Background and reason for the Rights Issue
Zwipe is a Norwegian biometric authentication technology company established in 2009, focused on developing and commercializing secure, fast, and easy-to-use biometric authentication solutions with broad applications across key verticals such as payments and access control.
Zwipe continues to make considerable progress within Zwipe Pay even if market adoption during 2023 has been slower than anticipated. Zwipe has more than 20 partners worldwide, and Zwipe’s partners are currently in discussions with more than 50 potential issuers regarding pilots and launches of biometric payment cards (“BPCs”) based on Zwipe’s platform. In the second quarter of 2023, Kuwait International Bank and Middle East Payment Services were responsible for the first commercial launches of Zwipe’s biometric payment cards. Discussions are ongoing about introducing BPCs to wider segments of their customer base in fairly short order. These two launches have also attracted significant attention from other financial institutions in the region, and several banks are considering going straight to a commercial pre-launch of BPCs and skipping over a typically lengthy pilot period. In Europe and APAC, Zwipe and its partners are intently focusing on launching BPCs with fintechs, who have the potential to move faster in deploying BPCs than more traditional banks.
Within Access, Zwipe continues to foster strategic partnerships that enhance reach and credibility within the industry. Zwipe’s partners include such major players as Schneider Electric, Certego, AWT, MC Dean, and Matrix and proofs of concept and testing are currently being carried out with clients such as Berkshire Hathaway Energy Group, Richmond International Airport, Prosegur Grupo, global Top 100 tech company, and a global Top 3 cloud services provider.
In June 2023, the company announced a streamlining and the full effects of that streamlining are only being seen now in the fourth quarter 2023. H1 2024 operational costs are expected to be more than 40% lower than H1 2023. Management and the Board continue to evaluate strategic options and ways to operate the company in the most cost-efficient manner possible.
The Rights Issue is carried out in order to strengthen the Company's financial
position and to accelerate the commercialization of Zwipe’s biometric cards within payments and access control. Zwipe has made substantial progress in both Zwipe Pay and Zwipe Access, which the Company anticipates will translate to meaningful commercial traction and revenue in the coming quarters. With the company operating in a very cost-efficient manner, proceeds from the rights issue alongside available cash and possible additional cost saving measures are expected to support the Company throughout 2024 and in its transition to a phase of sustainable, long-term commercial success.
Robert Puskaric, CEO of Zwipe comments:
"Zwipe continues to see strong interest in bringing both biometric payment and access control cards to market globally. While commercial launches have not happened as fast as we would have liked thus far, signs still point to market adoption happening in the coming quarters. Proceeds from the rights issue will give us more financial flexibility and enable us to execute on our commercial objectives for both Zwipe Pay and Zwipe Access. We are operating in an efficient and agile manner and proceeds from the rights issue should support us in achieving significant commercial traction and positioning the company for sustainable, profitable growth."
Key terms of the Rights Issue
The Board has today resolved to propose that the EGM resolves on the Rights Issue of 58,413,732 transferable subscription rights (the "Subscription Rights") with preferential rights for existing shareholders, whereby one Subscription Right gives the right to subscribe for one unit ("Unit") consisting of (i) a new share in the Company, each with a nominal value of NOK 0.10, and (ii) a warrant of series T01 (the "Warrants") for a subscription price of NOK 0.60 per Unit. Two Warrants give the right to subscribe for one ordinary share in the Company in the period beginning on 2 December 2024 and ending on 13 December 2024. The subscription price in the Rights Issue is NOK 0.60 per Unit on Euronext Growth Oslo and SEK 0.59 per Unit on Nasdaq First North Growth Market Sweden. The subscription price per share corresponds to the subscription price per Unit. Thus, the Warrants are issued free of charge. Upon full subscription, the Company will initially receive approximately NOK 35.0 million in gross proceeds. If Warrants are exercised, the Company will receive additional proceeds in December 2024.
The shareholders of the Company on 22 November 2023 (and being registered as such in the Norwegian Central Securities Depository, Euronext Securities Oslo, (the "VPS") as at the expiry of 24 November 2023 (the "record date") will be granted one (1) Subscription Right for each share registered as held by the shareholder as of the record date. One (1) Subscription Right is required to subscribe for one (1) Unit. Each Unit consists of one (1) new share and one (1) Warrant.
Subscription of Units with or without preferential rights shall take place during the period 28 November 2023 - 13 December 2023. Subscription Rights that are not exercised during the subscription period become invalid and lose their value. Trading in Subscription Rights takes place on Nasdaq First North Growth Market and Euronext Growth Oslo during the period 28 November 2023 – 7 December 2023.
Pursuant to Section 10-4 of the Norwegian Private Limited Companies Act, the shareholders of the Company at the day of the EGM (as registered in the Company's shareholder register in VPS two trading days thereafter (the "EGM Record Date")), and who are not resident in a jurisdiction where such offering would be unlawful or, would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action, will be granted a preferential right to subscribe for and be allocated the new shares in proportion to the number of shares in the Company they own as of the EGM Record Date (the "Existing Shareholding"), and will receive Subscription Rights proportionate to their Existing Shareholding. The Company expects to apply for admission to trading of the Subscription Rights on Euronext Growth Oslo and Nasdaq First North Growth Market Stockholm.
Units will be allocated in the Rights Issue in accordance with the following criteria:
Two (2) Warrants entitle, during the period 2 December 2023 - 13 December 2024, to the subscription of one (1) new share in Zwipe at an exercise price corresponding to 70 percent of the volume-weighted average price paid for Zwipe's share on Euronext Growth Oslo during the 10 trading days that precedes the exercise period, however not less than NOK 0.10 and not more than NOK 1.20.
There will from and including 7 November 2023 temporarily be imposed a block for repositioning of trading in the shares in the Company between Euronext Securities Oslo (VPS) and Euroclear Sweden AB until and including the record date in the Rights Issue.Full terms and conditions for the Rights Issue as well as other information about the Company will be described in the EU Growth Prospectus, which is expected to be published around 24 November 2023.
Subscription commitments and bottom guarantee commitments
In connection with the Rights Issue, the Company has received subscription commitments from a number of existing shareholders totaling approximately NOK 8.8 million, corresponding to approximately 25 percent of the Rights Issue. No compensation is paid for these subscription commitments.
In addition, Zwipe has received so-called bottom guarantee commitments of approximately NOK 15.8 million. Through the bottom guarantees, provided that subscription takes place to an amount at least equivalent to the subscription commitments, approximately 70 percent of the issue proceeds in the Rights issue is secured. For the so-called bottom guarantees, a compensation of thirteen (13) percent of the guaranteed amount is paid.
The subscription commitments and bottom guarantee commitments are not secured by bank guarantee, escrow funds, pledging or similar arrangements.
Detailed information regarding the parties that have entered into subscription commitments and guarantee undertakings will be found in the EU Growth Prospectus which is planned to be published around 24 November 2023.
Top guarantee commitment and new issue of the Convertible Loan and Warrants pursuant to the top guarantee commitment
Zwipe has received a so-called top guarantee of approximately NOK 10.5 million. Through the top guarantee, provided that subscription takes place to an amount at least equivalent to the subscription commitments and the bottom guarantee commitments, 100 percent of the issue proceeds in the Rights Issue is secured. For the so-called top guarantee, a compensation of fifteen (15) percent of the guaranteed amount is paid. The top guarantee commitment is not secured by bank guarantee, escrow funds, pledging or similar arrangements.
In the event that the top guarantor needs to fulfill its top guarantee commitment, the subscription amount shall be paid to the Company by the top guarantor subscribing for the Convertible Loan. Thus, the Board has also resolved to propose that the Company carries out a new issue of the Convertible Loan of up to approximately NOK 10.5 million.
The total subscription price for the Convertible Loan will be equivalent to the total subscription price of the Rights Issue, minus the subscription price of the units subscribed by the existing shareholders of the Company and the units subscribed by the bottom guarantors. However, the subscription price shall not be less than NOK 5.0 million. For instance, if the Rights Issue is subscribed to 75%, the top guarantor will subscribe in the Convertible Loan for 25% of the Rights Issue. If the Convertible Loan is subscribed to 95%, the Top Guarantor will subscribe for 5% of the Rights Issue, adjusted up to an amount equal to base amount of NOK 5.0 million. This means that the total potential funds raised in the Rights Issue and the Convertible Loan could amount to approximately NOK 40.0 million in aggregate.
The Convertible Loan carries an annual interest rate of 10 percent + STIBOR 3M of the loan amount. The interest will be paid by the Company quarterly in cash. The maturity date of the Convertible Loan is 20 December 2024, to the extent conversion has not taken place before such date. The conversion price is 130 percent of subscription price in the Rights issue, which is equal to NOK 0.78 per share.
The top guarantor will also have the right and obligation to subscribe for Warrants free of charge in relation to the subscription price for the Convertible Loan. The number of Warrants the top guarantor shall be entitled to subscribe for will amount to the maximum number of Units in the Rights Issue less the aggregate number of Units subscribed for by existing shareholders in the Company and Units subscribed for under the bottom guarantee commitments divided by 0.78.
Detailed information regarding the top guarantor will be found in the EU Growth Prospectus which is planned to be published around 24 November 2023.
Preliminary time plan for the Rights Issue
22 November 2023: Last trading day including the right to receive subscription rights
23 November 2023: First trading day excluding the right to receive subscription rights
24 November 2023: Publication of prospectus
24 November 2023: Record date for participation in the Rights Issue
28 November – 7 December 2023: Trading in subscription rights at Nasdaq First North Growth Market Sweden and Euronext Growth Market Oslo
28 November – 12 December 2023: Subscription period on Nasdaq First North Growth Market Sweden
28 November – 13 December 2023: Subscription period on Euronext Growth Market Oslo
13 December 2023: Publication of preliminary outcome of the Rights Issue
Change in share capital, number of shares and dilution
Based on the outstanding number of shares as of today, the share capital in the Company increases through the Rights Issue by a maximum of NOK 5,841,373.20, from NOK 5,841,373.20 to NOK 11,682,746.40, through the issuance of a maximum of 58,413,732 shares. The number of shares increases from 58,413,732 to a maximum of 116,827,464 shares. For existing shareholders who do not participate in the Rights Issue, this implies a dilution effect of 50.0 percent in the case of full subscription.
Upon full subscription in the Rights Issue and subsequent subscription of NOK 5 million in the Convertible Loan, the number of shares will increase by a further 6,410,256 to 123,237,720 shares and the share capital by NOK 641,025.60 to NOK 12,323,772.00 given full conversion of the Convertible Loan.
In the event that all outstanding warrants issued in the Rights issue are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by a further 29,206,866 to a total of 152,444,586 shares and the share capital will increase by NOK 2,920,686.60 to a total of NOK 15,244,458.60. In the event that all outstanding warrants issued in connection with the Convertible Loan are fully exercised for the subscription of new shares in Zwipe, the number of shares will increase by a further 3,205,128 to a total of 155,649,714 shares and the share capital will increase by 320,512.80 to a total of 15,564,971.40 SEK.
Extraordinary general meeting
The Rights Issue and the new issue of the Convertible Loan requires the approval by the EGM expected to be held on 22 November 2023 to be implemented. The notice of the EGM will be published in a separate press release.
Advisor
Zwipe has engaged Hagberg & Aneborn Fondkommission AB and Advokatfirmaet Schjødt AS as financial and legal advisors respectively in connection with the Rights Issue.
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This information is subject to the disclosure requirements in the Market Abuse
Regulation (EU 596/2014) and the Norwegian Securities Trading Act section 5-12,
and is information that Zwipe AS is obligated to make public pursuant to the
continuing obligations of companies admitted to trading on Euronext Growth Oslo
(Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth
Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
The information was submitted for publication, through the agency of the contact
person set out below, at 07:30 on 8 November 2023.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer
future. We work with great passion across networks of international
organizations, industries and cultures to make convenience safe and secure. We
are pioneering next-generation biometric card and wearables technology for
payment and physical & logical access control and identification solutions. We
promise our customers and partners deep insight and frictionless solutions,
ensuring a seamless user experience with our innovative biometric products and
services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com
For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
Important information
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
NEW ORLEANS, LOUISIANA and OSLO, NORWAY – October 23, 2023 – TADERA is proud to announce its participation at the 2023 ACI-NA PS&S / ACC Security Technology Conference, where we will showcase the groundbreaking Airport Secure Credential (ASC) Biometric Access Cards powered by Zwipe’s revolutionary biometric-system-on-card (BSoC) technology.
TADERA collaborated with Zwipe to harness this unique and cutting-edge technology for biometric smart cards specifically designed for access control at airports. These ASC Access Cards feature built-in fingerprint sensors, ensuring the authenticity of cardholders at all secure entry points. Additionally, these cards seamlessly integrate with all existing NFC card readers, allowing airports to implement two-factor authentication without the need for hardware upgrades of any kind, saving significant capital investment dollars.
During the event, TADERA will be offering live demonstrations of the enrollment process and access control system authentication.
"As the President of TADERA, I am happy to announce our sponsorship and participation in the 2023 ACI-NA PS&S / ACC Security Technology Conference. Using the platform of this event, we’re thrilled to re-introduce our AirportIQ platform of products to the airport space, in which these 2FA cards play an important role. Our collaboration with Zwipe, showcased through the AirportSecure Credential (ASC) Biometric Access Cards, exemplifies our dedication to providing cutting-edge solutions to the airport sector," said Tim Walsh, President of TADERA.
Zwipe’s CEO, Robert Puskaric, expressed his enthusiasm for the partnership: "We are honored and proud to showcase TADERA's Airport Secure Credential Access (ASC) biometric Card powered by Zwipe during the ACI-NA Security Technology Conference. Our collaboration, which began with theProof-of-Concept (PoC) at Richmond International Airport earlier this year as part of The National Safe Skies Alliance Airport Security System Integrated Support Testing (ASSIST) program, is a testament to our strong partnership in delivering innovative solutions to enhance security at American airports."
About Tadera
TADERA's commitment to the airport sector spans over 40 years, culminating in our transformation into TADERA from Civix. Our mission is to enhance the safety, security, and financial stability of airports, ensuring world-class facilities for passengers and cargo transport. The name TADERA reflects our dedication to facilitating Transportation, Aviation, and Destinations in the next era of airtravel. We provide software and integrated technology solutions that elevate the safety and financial performance of airports. TADERA serves the Federal Aviation Administration, state aeronautics departments, and more than 100 airports worldwide.
Learn more about us at www.tadera.com.
About Zwipe
Zwipe believes in the inherent uniqueness of every individual, paving the way for a safer future. We passionately collaborate across international networks,industries, and cultures to make convenience both secure and safe. At Zwipe, we pioneer next-generation biometric card and wearables technology for payment, physical and logical access control, and identification solutions. We promise our customers and partners deep insights and frictionless solutions, ensuring aseamless user experience with our innovative biometric products and services. With our headquarters in Oslo, Norway, and a global presence, we are shaping the future of security.
Learn more at www.zwipe.com.
OSLO, NORWAY and ZURICH, SWITZERLAND – 14 April 2022 – Zwipe, a leading provider of on-card biometric solutions, has partnered with LEGIC Identsystems, one of the leading experts in end-to-end security for smartphone and smartcard-based access and mobility solutions. The partnership will provide end-to-end biometric access control solutions using LEGIC’s Security Platform.
On the backdrop of increasing requirements for security, data privacy and GDPR compliance, Zwipe and LEGIC Identsystems have successfully combined their respective high performance and innovative technologies for a next generation biometric system-on-card for access control. This solution provides highly secure multi-factor authentication integrated in an ID-Card form factor.
Speaking on the partnership, John Harvey, Head of BU Access Control at LEGIC said, “Zwipe’s embedded biometric verification in batteryless smartcards adds a revolutionary new layer of security to the huge installed base of LEGIC card-based access control systems worldwide. This innovation brings benefits that were formerly only available on smartphone solutions, while preserving existing infrastructure and drastically reducing time-to-market ”.
“We are very excited with our cooperation with LEGIC, one of the leading global providers of end-to-end security platforms for smartphone- and smartcard-based access, mobility, shared resource and industrial IoT applications. We are already working on several sharp customer cases based on LEGIC’s Security Platform. We are confident this is only the start of a long series of opportunities with LEGIC”, said André Løvestam, CEO of Zwipe.
Zwipe Access adds two-factor authentication to existing contactless card-based access control systems without the need to upgrade any of the existing infrastructures, meaning that no new readers, pin pads or cameras need be installed at the doors, gates, or turnstiles. The authorized user’s fingerprints data are captured, using the card’s integrated fingerprint sensor, encrypted, and then stored in the card's secure element.
The biometric data are not shared with anyone, and no database is needed which ensures privacy and simplifies the path towards GDPR’s compliance. The biometric verification on card ensures that only the legitimate cardholder is granted access. Zwipe Access is contactless, batteryless and easy to use, with significantly shorter transaction time than conventional biometric access control systems.
To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
About LEGIC
For over 25 years, Swiss-based LEGIC Identsystems has enabled companies from around the world to deploy solutions with demanding security requirements. Based on key management, trusted services, and secure, contactless semiconductors, the LEGIC Security Platform provides end-to-end security for smartphone- and smartcard-based access, mobility, shared resource and industrial IoT applications.
For more information, please contact Natascha Marty, Corporate Communications Manager, LEGIC Identsystems Ltd. at + 41 44 933 64 64 or natascha.marty@legic.co
OSLO, NORWAY and AMMAN, JORDAN – 12 April 2022 – Zwipe and CSC-Jordan are pleased to announce their collaboration to pilot Biometric Payment Cards built on the Zwipe Pay platform. This pilot will be deployed with CSC-Jordan's own issued cards, paving the way for CSC-Jordan's client banks to also launch their new card products powered by biometrics from Zwipe.
CSC-Jordan is an issuer, acquirer and processor, servicing many banks in Jordan and expanding into many other territories in the region. The company offers a bouquet of services and secure payment technologies in the management and operation of electronic payment systems, including processing and authorizing financial transactions, as well as connecting ATMs and point of sale (POS) networks. CSC-Jordan is licensed by both Visa and MasterCard for which they currently issue cards.
Speaking on this development, Mr. Basem Dweik, General Manager at CSC-Jordan said, “We are pleased to partner with Zwipe, a global technology brand in biometric payment cards, to bring next generation contactless payment experience – ensuring top-class security and user experience for customers. We are aiming for the pilot to commence in the early summer of 2022.”
As part of this partnership, Zwipe will support CSC-Jordan through all stages of issuing the next generation payment cards and also offer them to other issuers in Jordan.
Ramzi Saboury, General Manager of Zwipe in the MENA Region said, “We are excited to partner with CSC-Jordan. Being a leading and multi-faceted payment company, combining its roles as issuer, acquirer and processor, CSC-Jordan is able to expand the partnership and will enable all the clients of CSC-Jordan who are interested in the next gen biometric payment cards to pilot and launch the product.”
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
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About CSC-Jordan
At CSC-Jordan, we are proud of our role in creating the future through providing the best and latest technological solutions across all forms of electronic payments, as well as our ATM management services. We provide banks, financial institutions, retailers, companies a road to success, offering innovative solutions that are defined by their flexibility and security.
CSC-Jordan offers a bouquet of services and secure payment technologies in the management and operation of electronic payment systems. Our services include processing and authorizing financial transactions, as well as connecting ATMs and point of sale (POS) networks, along with
managing and organizing clearing and settlement procedures for financial operations. In addition, CSC is a payment services provider that exclusively issues all types of payment cards depending on our clients’ needs. We are also the proud owners and providers of the Islamic Visa credit card – Arabex. All our services respond to the developments in Jordan’s electronic payment market.
To learn more, visit www.cscjordan.com
OSLO, NORWAY and BAGHDAD, IRAQ – 4 April 2022 – Zwipe and the National Bank of Iraq are pleased to confirm that they will pilot Biometric Payment Cards built on the Zwipe Pay platform, making it one of the first pilots of the next generation contactless payment cards in Iraq.
The National Bank of Iraq (NBI) is one of the largest private banks in the country. Its majority ownership and management has been under Jordan's Capital Bank Group since 2005. The bank provides a comprehensive range of banking services to corporates and consumers. Today, NBI has 19 branches in all major cities in Iraq, a key emerging market in the Middle East seeking innovation in its payment ecosystem to minimize fraud and corruption and deliver an excellent user experience.
Speaking on this development, Mr. Ayman Abu Dhaim, CEO at the National Bank of Iraq said, “We are very pleased to partner with Zwipe, a leading technology brand in biometric payment cards globally, and areeba, a leading payment service provider in the region. We are keen to be amongst the first banks in the region to introduce this world-class innovation, ensuring that our customers are extremely well protected when using payment cards while enjoying a great user experience. We are aiming for the pilot to commence in the summer of 2022.”
Mr. Issam Adra, General Manager of areeba Iraq, added: “Biometric payment cards will make the lives of NBI’s customers frictionless, safer, and more secure. areeba is a well-known frontrunner in bringing wide-ranging payment innovations to markets. Zwipe is our well-established partner for biometric payment cards, and we are very pleased about extending our collaboration to Iraq.”
Ramzi Saboury, General Manager of Zwipe in the MENA Region said, “We are excited to partner with the National Bank of Iraq. I am pleased that our collaboration with the Central Bank of Iraq has encouraged leading Iraqi issuers such as NBI to embrace next-generation payment cards. With 40 million inhabitants and 7 million payment cards, expected to grow to more than 10 million over the next 4 years according to the World Bank, Iraq represents a significant growth opportunity for Zwipe in the Middle East.”
About NBI
National Bank of Iraq, owned by Jordan's Capital Bank Group since 2005, provides a comprehensive range of innovative banking services to corporates and individuals in Iraq. With its extensive network of correspondent banks, Capital Bank stands as National Bank of Iraq’s gateway to global economies, as it facilitates sending and receiving internal and external transfers, granting credit facilities, and providing trade finance services. National Bank of Iraq can trade on behalf of its clients in the Jordanian market and in global markets through Capital Investments, Capital Bank’s investment arm- as well as providing trading services in the Iraq Stock Exchange through its wholly owned subsidiary.
The acquisition that Capital Bank Group undertook towards the end of 2020 of the Lebanese Bank Audi business in Jordan and Iraq reinforced the group’s expansion and presence in these two markets, as the branches of the National Bank of Iraq increased from 13 to 19 branches in all major cities.
In addition, the National Bank of Iraq is furthering its regional expansion with the recently established operations in the Kingdom of Saudi Arabia.
About areeba
AREEBA IRAQ FOR INFORMATION TECHNOLOGIES AND ELECTRONIC PAYMENT LLC (PRIVATE COMPANY) is an Iraqi entity fully regulated and licensed by the Central Bank of Iraq for issuing, processing and acquiring services under CBI license number 12, provides smarter, faster, and seamless payment solutions for banks, financial institutions, merchants, governments and individuals. Areeba-Iraq takes the business further by introducing new technologies to facilitate cashless payment in Iraq. Areeba-Iraq is ultimately owned by Areeba Holding Limited, the leading operating firm in the region; and is a principal member at Mastercard and Visa, as well as it has a strategic partnership with American Express.
For further information please contact: Issam Adra, General Manager , +9647803988098, www.areeba.iq or e-mail: iraq@areeba.iq
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
OSLO, NORWAY – 1 April 2022 – Zwipe, a leading biometric fintech company, is delighted to announce that Mr. Patrice Meilland is appointed as Chief Strategy and Product Officer effective today. Mr. Meilland’s main focus areas will be strategy, strategic partnerships and Zwipe’s product portfolio and roadmap. The product management team is placed under his leadership.
Mr. Meilland joins Zwipe from the position as SVP of Advanced Cards at Idemia, where he was responsible for Idemia’s biometric cards roadmap, including the BioSE project, as well as product lines such as eco-friendly cards, dynamic CVV cards, transport and urban mobility cards.
Mr. Meilland’s extensive business and technical experience in the semiconductor, mobile, and payment card industries include 7 years at Idemia and 26 years at STMicroelectronics and ST-Ericsson. Mr. Meilland has had P&L responsibility for businesses of over $500m and 400 persons and has acquired deep experience in strategy, business development, supply chain management, product management and more.
“I am delighted and proud to welcome Patrice to Zwipe. He is a transformative leader with a global perspective and deep industry insights gathered over more than 30 years in the industry. He is highly respected, knowledgeable and connected. As Zwipe’s Chief Strategy and Product Officer, Patrice will help defining our strategy and driving our future growth with our strategic partners and the product team, enabling Zwipe to remain one of the most competitive and dynamic companies in the industry”, said André Løvestam, CEO of Zwipe.
Mr. Meilland will be a member of Zwipe’s senior management team and report to the CEO.
“I am honored to join Zwipe and am looking forward to helping grow the company and its business, as well as working with the industry and ecosystem to foster adoption of biometric cards across various segments. I am also deeply convinced that, as a leading biometric fintech company, Zwipe has an important role to play in the evolution of payments and access towards biometry, and I see great potential ahead for development and growth”, said Patrice Meilland, Zwipe’s new Chief Strategy and Product Officer.
For further information, please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise
our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY - 29 March 2022 - Tag Systems, a leading provider of payment cards (and part of the AUSTRIACARD Group) has obtained the Letter of Approval (LoA) from VISA that enables the production of certified biometric payment cards using the Zwipe Pay platform.
This development confirms that Zwipe's complete solution is ready for full scale production by Tag Systems for adoption by issuers globally. Zwipe obtained its VISA Letter of Approval (LoA) for its Zwipe Pay platform on 24 March 2022, enabling smart card manufacturers working with Zwipe to swiftly obtain VISA certification for their own biometric payment card designs.
“We are pleased to see the second certification granted to our customers for biometric cards based on Zwipe Pay. On behalf of everyone at Zwipe, I would like to congratulate the team at Tag Systems and Austria Card Group on this achievement. We are ready to support your deployments,” said André Løvestam, CEO of Zwipe.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
OSLO, NORWAY – 28 March 2022 – Zwipe, a leading provider of on-card biometric solutions, confirms that its biometric access control solution, Zwipe Access, has been selected by Fraport AG as one of two partners in Fraport’s “Biometrics@Controllane” project.
Fraport AG – which ranks among the world’s leading companies in the global airport business – offers a full range of integrated airport management services and boasts subsidiaries and investments around the globe. It operates within 31 airports globally, including the main airports in Frankfurt (FRA), New York (JFK), New Jersey (EWR), Baltimore/Washington (BWI), Cleveland (CLE), Nashville (BNA), Pittsburgh (PIT) and Delhi, India (DEL). Fraport has recently launched a project within its Digital Factory to identify the optimal solution for performing a biometric comparison between the airport ID card and the person requesting access. The technology is planned to be used on a few selected security checkpoints first.
Zwipe Access is a new, highly secure and at the same time easy to handle biometric smart card solution for access control. It is battery-less and fully compatible with market-leading card-based access control infrastructures. Zwipe Access adds two-factor authentication to existing contactless card-based access control systems without the need to upgrade any of the existing infrastructures, meaning that no new readers, pin pads or cameras need be installed at the doors, gates, or turnstiles. The biometric authentication provides assurance that only the legitimate person is granted access.
“We are delighted to be selected as finalists in this MVP process for Fraport AG, a lighthouse and leading innovator in the global airport industry. We look forward to demonstrating the security and excellent user experience of Zwipe Access in this MVP over the course of this summer. Authenticating legitimate access card holders, Zwipe Access provides a step change in security and control without changing the existing backend infrastructures and thereby saving cost and time,” said André Løvestam, CEO of Zwipe.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
OSLO, NORWAY - 25th March 2022 - Zwipe is pleased to confirm that Beautiful Card Corporation (BCC), a prominent Taiwanese card manufacturer with global deliveries, has obtained the Letter of Approval from VISA for its biometric payment cards based on the Zwipe Pay platform.
This development confirms that Zwipe's complete solution is now ready for full scale production by BCC for adoption by issuers globally. Zwipe obtained its VISA Letter of Approval (LoA) for its Zwipe Pay platform on 24th March 2022, enabling smart card manufacturers working with Zwipe to leverage Zwipe’s certification results to swiftly obtain VISA certification for their own biometric payment card designs.
“It is great to see the first confirmation of certification of biometric cards based on Zwipe Pay from one of our valued customers. We congratulate BCC on their achievement and look forward to supporting them on their growth journey powered by biometrics from Zwipe,” said André Løvestam, CEO of Zwipe.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence. To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
OSLO, NORWAY – 24 March 2022 – Zwipe, a leading provider of biometric payment card solutions, is proud to announce that it has obtained the Letter of Approval (LoA) from Visa for the Zwipe Pay platform, the most advanced biometric card solution available to all smart card manufacturers in the market today. This LoA enables Zwipe’s customers (smart card manufacturers) to leverage Zwipe’s certification results to obtain Visa certification for their own biometric payment card designs.
Zwipe Pay passed all tests required to obtain the Visa Letter of Approval. This confirms that the Zwipe Pay biometric payment card platform meets the security and performance standards required by Visa. Zwipe’s complete end-to-end solution is now ready for full scale production by smart card manufacturers and adoption by issuers. The product is approved for issuance anywhere in the world.
Issuers can now leverage Visa’s global network and start to deliver biometric payment cards, built on Zwipe Pay technology.
“Having the Zwipe Pay platform certified by Visa is a historic milestone for Zwipe and our customers. Consumers will benefit from more convenient, safe, and secure ways to pay. Issuers will have the opportunity to create differentiation, accelerate customer acquisition, uplift loyalty and create new revenue streams. The pathway is now open for smart card manufacturers and issuers all over the world to certify, produce and deploy biometric Visa cards based on Zwipe Pay,” said André Løvestam, CEO of Zwipe.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 09:45 CET on 24 March 2022.
OSLO, NORWAY, BAGHDAD, IRAQ and BEIRUT, LEBANON – 17 MARCH 2022 – Zwipe, Al Mansour Bank and areeba have confirmed that they will pilot Biometric Payment Cards built on the Zwipe Pay platform in Iraq. This will be one of the earliest pilots of next generation contactless payment cards in the country.
Al Mansour Bank is a private bank with Qatar National Bank (QNB) as its majority owner. The bank was established in 2005 and today it has more than 10 branches across Iraq. The bank is always seeking innovative products to introduce to the Iraqi market.
Speaking on this development, Mr. Roger Abboud, Head of Retail, AI Mansour Bank said, “Post pandemic, we have seen strong demand for PIN-free and touch-less payment solutions as they are safer and much more secure. We are delighted to partner with Zwipe, a leading provider of biometric payment technologies and areeba, a respected leader in innovative payment services. Biometric Payment Cards will uplift our payment portfolio and enable us to deliver excellent service quality to our customers. We are now working with both partners to launch pilots in the coming months.”
Mr. Issam Adra, General Manager of areeba Iraq said: “We are excited to be part of Al Mansour Bank’s biometric payment cards initiative and confident to deliver a world-class experience and security to the bank’s customers. areeba has for a long-time pioneered payment innovations that uplift customer loyalty, create unique differentiation and strong business cases for banks. Biometric payment cards will be instrumental in continuing this effort.”
Ramzi Saboury, General Manager of Zwipe in the MENA Region added, “The banking sector in Iraq is demonstrating a great appetite for innovation. We are thrilled with our collaboration with Al Mansour Bank on biometric payment cards together with areeba, one of our key partners in the region.”
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
About Al Mansour Bank
Al Mansour Bank is a private bank with Qatar National Bank (QNB) as its majority owner. The bank was established in 2005 and today it has more than 10 branches across Iraq. The bank is always seeking innovative products to introduce to the Iraqi market.
For more information, visit www.mbi.iq
About areeba
areeba is an electronic payment technology company licensed by Visa and MasterCard and has an agreement with American Express & Discover. Established in 2017, areeba adopts the latest technologies and provides solutions and payment services to banks, governments and merchants to suit their aspirations and needs.
areeba offers services tailored to global requirements, from card issuance and management, non-contact payment solutions, contactless and mobile payment. It also provides merchants and governments with the latest e-commerce platform and point-of-sale machines that adopt the highest standards and safety systems. areeba operates a wide range of loyalty programs, including collecting points and miles, cashback programs, and providing consultancy services for the planning, design and development of electronic products and payment solutions.
For more information, visit www.areeba.com, or @areebalebanon on LinkedIn, Facebook or Instagram.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
