Dear Customers, Zwipers and Partners,
I am delighted to begin this new journey as the CEO of Zwipe. Since day one, I have felt thoroughly welcomed and enjoyed the energy, engagement and competencies that we have in the team.
I would like to start by saying a big thanks to all Zwipers for working tirelessly and to André Løvestam for having been such a strong ambassador of next generation biometric cards for many years.
More card manufacturers, payment processors, banks and enterprises than ever before are today committed to launch their next generation card programs with Zwipe. My sincere thanks to our customers and partners for their continued confidence in our platform. Throughout H1 2022, we continued to grow our customer and partner base at a strong pace.
· We signed with six new issuers, from Germany to India and the Middle East. All of them are now engaged with our card manufacturing partners and other players in the value chain to launch their new cards.
· In the APAC region, we strengthened our market position significantly with Placard (largest card manufacturer in Australia and New Zealand), Modularsoft (Malaysia’s largest payment card personalization bureau) and Wisecard (one of APAC region’s largest EMV Software providers). All these leading brands selected Zwipe Pay platform in launching their next generation payment cards.
· On the technology side, our Zwipe Pay platform received the Letter of Approval (LoA) from Visa, which was followed by confirmations of Visa certification from our three lead customers (Tag Systems, BCC and Inkript). This list will only grow from here.
· Fraport, operating in 31 international airports (including Frankfurt, New York (JFK), New Jersey (EWR) and New Delhi) shortlisted the Zwipe Access platform for their new access card program. Pilot is now underway, and we are expecting a decision before the end of the year.
We also strengthened our organization by welcoming Patrice Meilland as Chief Strategy & Product Officer and Danielle Glenn as CFO & Head of IR. Patrice joins from his position as the SVP of Advanced Cards in Idemia. Danielle brings substantial financial markets experience from the likes of Goldman Sachs and her most recent role as the CFO of Arctic Bioscience. With a strong focus on ensuring deliveries and successfull launches, we have also strengthened our engineering teams.
Throughout H1 2022,we continued to investigate consumers’ payment preferences and their feedback on biometric payment cards. From Austria to Australia, Italy to Taiwan, Malaysia to The Netherlands and Germany, consumers’ interest in biometric payment cards remained consistent and very strong. This is encouraging, not just for Zwipe but for all our customers, partners and industry peers who just like Zwipe are on a mission to deliver the next generation payment and access control experience worldwide.
I now look forward leading Zwipe and together as a team delivering measurable value to our customers, partners and shareholders.
Wishing you all a happy and safe summer!
Robert Puskaric
President and CEO of Zwipe
OSLO, NORWAY - 16 June 2022 - The Board of Directors of Zwipe AS ("Zwipe" or the "Company”) has resolved to grant in total 660,000 share options to members of the management team under the Company's share incentive scheme. The option grant is in accordance with the mandate given at Zwipe’s Annual General Meeting on 23 May 2022 to the Board of Directors (“the Board”) to issue new options to the company's employees or Board members under the company's existing long-term incentive program (the “Program”). Each option gives the option holder the right to acquire one share in the Company at an exercise price of NOK 17.96, which is equal to the volume weighted average share price for the 10 last trading days through 10 June 2022 plus 10%. The exercise price was established in accordance with Program principles. The options will vest over a period of three years from grant with one-sixth vesting every six months until 31 December 2024. The options will expire on 1 July 2026.
The following primary insiders were granted options:
Until the AGM in 2023, the Board is authorized to issue up to 2,626,168 options, of which a total of 2,084,498 options have now been issued. Primary insider notifications pursuant to article 19 of the market abuse regulation are attached to this release.
OSLO, NORWAY – 13 June 2022 – Zwipe, a leading provider of biometric payment card solutions announces that Zwipe’s Board of Directors has appointed Robert Puskaric as President and Chief Executive Officer, replacing André Løvestam. The change is effective immediately.
Robert Puskaric has a long successful career mainly from the Ericsson group where positions held include President, Region Northern Europe and Central Asia, President, Ericsson Mobile Platforms, Senior Vice President, Business Unit Modems, and Executive Vice President, ST-Ericsson. He has also been President and CEO of Doro AB and President of Eniro AB. He holds a Bachelor’s degree in Economics and Management (Civilekonom) from Lund University, Sweden.
“We are excited to announce that Robert Puskaric joins Zwipe as our new President and CEO,” says Jörgen Lantto, Chairman of the Board of Directors of Zwipe. “After several years of development of Zwipe Pay and Zwipe Access, Zwipe’s main products for biometric payment and access cards, the company is now entering into a new phase of engaging with our customers to bring biometric cards to consumers for commercial launch. We are confident that Robert’s successful history of managing complex commercial relations will be a perfect fit as the company enters this phase,” continues Jörgen Lantto.
“I am very excited to join Zwipe,” says Robert Puskaric, new President and CEO of Zwipe. “I am very impressed of Zwipe’s achievements in establishing a strong competitive position on the back of a leading technology, and I am looking forward to working with my new colleagues and the board, partners and customers, in bringing biometric cards to consumers for commercial launch” continues Robert Puskaric.
Robert Puskaric replaces outgoing President and CEO André Løvestam who will support the company during a transition period and then pursue other opportunities.
“On behalf of the Board of Directors, I would like to extend my deep appreciation to André Løvestam for his efforts in leading Zwipe to its current position,” says Jörgen Lantto. “André has taken the company through a series of major changes during a critical time for the company. We wish André all the best in the future,” continues Jörgen Lantto.
OSLO, NORWAY and MUNICH, GERMANY - 13 June 2022 - Zwipe and Fidor Bank are excited to announce that they will be piloting the biometric payment cards in Germany during the second half of 2022. This will be powered by the Zwipe Pay technology platform.
Fidor Bank is a digital bank headquartered in Germany. Founded in 2009, the bank aims to provide a world-class user experience to its retail, corporate and institutional customers.
The launch of biometric cards is in line with Fidor’s strategy to provide its customers with access to digital banking and payment services in the most secure way possible. These cards are equipped with the latest security technologies and offer users a secure and seamless payment experience. Fidor Bank has been recognized in the last three consecutive years by Forbes Magazine as one of the world’s best banks and a leader in banking.
Across markets globally, Zwipe is experiencing strong and growing demand for its disruptive Zwipe Pay biometric payment card platform, delivering world-class security and a completely touch-less, PIN-free user experience.
Speaking on this development, Boris Joseph, CEO at Fidor Bank said, “We are delighted to take this big step with Zwipe, a well-known pioneer in biometric authentication and payment solutions. Next generation payment cards powered by on-card fingerprint authentication will greatly help to differentiate our payment offerings with respect to a seamless checkout experience and uplifted transaction security. We are aiming for a commercial launch in the second half of 2022”.
Besides providing Zwipe Pay as the core platform of the biometric payment card technology, Zwipe will support Fidor Bank with project support, help the bank to drive engagement and awareness on biometric payment cards while ensuring excellent payment experience for consumers.
André Løvestam, CEO of Zwipe said, “We are grateful for Fidor Bank’s confidence in joining forces with Zwipe to bring biometric payment cards to Germany, one of the largest payment markets in Europe. Fidor Bank’s position as a leading digital bank and Zwipe’s disruptive technology in biometric payments lay the foundation for a mutually rewarding collaboration. We are fully committed to ensure a successful pilot and market launch in Germany”.
About Fidor Bank
Fidor Bank AG is a German digital bank based in Munich and Berlin. A range of unique products and services characterizes Fidor’s offer. With the Fidor Smart current or business account, the bank targets private and business customers and offers them a combination of classic banking services and innovative products, such as cryptocurrency trading. Fidor’s unique value proposition has been awarded by acclaimed publications, including Handelsblatt, Forbes and Chip.
To learn more, visit www.fidor.de
For further information please contact: Sascha Grundmann, newskontor – Agentur für Kommunikation, +49 211 863949-21 sascha.grundmann@newskontor.de
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.
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
OSLO, NORWAY and HONG KONG, CHINA – 9 June 2022 – Wisecard Technology and Zwipe are pleased to confirm their partnership to bring biometric payment cards to consumers in the Asia Pacific (APAC) Region. Wisecard is one of the world’s largest suppliers of turnkey personalization solutions serving more than 150 financial institutions and 50 card personalization bureaus in more than 60 countries worldwide. Zwipe is a leading innovator in the biometric smart card industry with market leading biometric payment card platform, Zwipe Pay.
Elaborating on the partnership, Kevin Yi, Vice President-Business Development at Wisecard said, “Wisecard has been at the forefront of payment technologies for over ten years. Partnering with Zwipe, a well-known leader in biometric card technology, enables us to offer revolutionary solutions to our customers, banks and card personalization bureaus. Wisecard recognizes the significant benefits that biometric payment cards bring to consumers and issuers alike. With the Zwipe Pay platform we now have the maturity and reliability to make it a reality”.
As part of this partnership agreement, the parties have agreed to execute joint sales and marketing initiatives, backed with a strong technology collaboration where Wisecard will deliver pre-built personalization scripts for Zwipe Pay biometric payment cards ensuring much faster and smoother implementation for banks and card personalization bureaus.
Claus Hansen, Vice President, Sales and Business Development for Zwipe in APAC said: “Partnering with Wisecard greatly strengthens the global delivery and implementation ecosystem of biometric payment cards built on our platform, across the APAC region and also beyond. Together we will bring next generation biometric payment cards to card personalization bureaus, smart card manufacturers, payment processors and issuers.”
About Wisecard:
Wisecard has been dedicated to building a safe and trusted digital world through the development of smart card technology and payment solutions. Wisecard is committed to becoming the world's leading provider of secure payment service solutions, adhering to the customers’ needs, and delivering easy plug-in and user-friendly solutions for banks and financial institutions. With the team of Wisecard, we are extending our service and solutions from software development and professional project management.
Visit www.wisecardtech.com/ for further information or contact us: info@wisecardtech.com
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
BEIRUT, LEBANON and OSLO, NORWAY - 30 May 2022 - Inkript, a digital security solutions provider operating in the Middle East and Africa (MEA) region, and a subsidiary of Resource Group, has obtained the Letter of Approval (LoA) from VISA for its biometric payment card built on the Zwipe Pay platform.
With this Letter of Approval (LoA), consumers all over the world can use biometric payment cards from Inkript built on the Zwipe Pay technology working seamlessly across Visa’s global payment network. This will address the strong market demand for increased security and convenience through biometric authentication.
On this development, Riad Itani, Managing Director at Inkript said, “We are pleased to receive the Visa LoA allowing the issuance and deployment of our biometric cards anywhere in the world. This LoA also comes at a timely point with the strong interest from issuers in the MEA region to launch biometric payment cards based on the Zwipe Pay platform. Many banks have already signed with us, and we are ready to meet their expectations across the region. This is an important milestone in our journey towards developing biometric solutions for the Fintech industry in the region thus enabling a secure and seamless user experience.”
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 that Inkript, as the first card manufacturer in the MEA region, has now received the Visa LoA for their biometric cards based on the Zwipe Pay platform. Achieving this milestone has a very positive impact on the commercial rollout of Zwipe Pay enabled biometric payment cards in the region. On behalf of everyone at Zwipe, I congratulate the team at Inkript on this achievement,” said Ramzi Saboury, General Manager of Zwipe for Middle East & Africa.
About Inkript
Inkript is a digital security solutions provider catering to governments, telecom operators, financial institutions and corporations in the Middle East and Africa. The company is a subsidiary of Resource Group, and its growth is driven by an extensive R&D and continuous investments in emerging technologies. Inkript is distinguished by its state-of-the-art factories, technology competence centers, customized integrated solutions and international certifications covering processes, quality and security.
Media Contact for Inkript: Ms. Nathalie Haddad, +9611412000 ext. 2935 nhaddad@resource.group
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– 23 May 2022 – The Annual General Meeting (AGM) of Zwipe AS was held Monday 23 May 2022 at 9:00 (CEST). All the items on the agenda were addressed and approved. Attached are the minutes of the Annual General Meeting. The attendants of the AGM represented 19.21% of the votes in the company.
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 Market Oslo and on Nasdaq First North Growth Market. 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 below, on 23 May 2022 at 16:05 CEST.
For more information, please contact:
Danielle Glenn
CFO and Head of IR, Zwipe AS
Phone: +47 909 98 201
E-mail: danielle@zwipe.com
OSLO, NORWAY - 28 April 2022 - Zwipe AS today publishes its first quarter operational update.
Q1 2022 Highlights
During the first quarter of 2022, Zwipe made significant progress towards the targeted commercial breakthrough for biometric cards for payment and access control:
Significant events after the period
Message from the CEO
Most importantly for Q1 2022, Visa certified the Zwipe Pay Biometric Payment Card Platform and issued the Letter of Approval to Zwipe. Zwipe Pay passed all tests required to obtain the Visa Letter of Approval. This is a major milestone which represents a seminal moment for the company, and the leadership is rightly proud of the achievement. With this, the Zwipe Pay biometric payment card platform is the most advanced and cost-effective certified solution available to smart card manufacturers globally. The LoA enables our customers to swiftly obtain VISA certification for their own biometric payment card designs for full-scale production and issuance in any global territory.
This was evidenced when two smart card manufacturers, Tag Systems and Beautiful Card Corporation (BCC), announced within a week of Zwipe's announcement that they had obtained Letters of Approval from VISA for their own biometric payment card solutions based on the Zwipe Pay platform. This means that 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 for commercial launch to consumers. We are also progressing towards certification with Mastercard.
From January until mid-April 2022, a total of six new issuers across APAC, Africa and the Middle East signed up to pilot biometric payment cards based on Zwipe technology. These issuers are sKarn from India, Al Mansour Bank from Iraq, Mediterranean Bank from Libya, National Bank of Iraq, CSC Jordan and a leading bank in Kuwait. We also entered new partnerships with card personalization bureaus and service providers such as Modularsoft in Malaysia and K2sas / Card Systems Group in France and the Middle East.
We strengthened our effort in positioning Zwipe as a leading biometric company in the APAC region by announcing that Placard, Australia’s largest card manufacturer, selected Zwipe as its technology partner to pursue market opportunities for biometric payment cards and other security products. Placard delivers more than 100 million cards each year for the most established brands in the financial, retail, identification, government, loyalty and hospitality sectors and will help to accelerate the deployment of biometric payment cards to banks and consumers.
We were also delighted that US-based TSYS, one of the world's largest and most respected payment service providers, declared our partnership on their website, reflecting our announcement on 15 December 2021. TSYS, which is part of Global Payments Inc, a member of the S&P 500, produced approximately 100 million cards of all types in the United States in 2021. I recommend you read their excellent feature story about our partnership and why the two companies plan to produce an affordable, secure biometric payment card.
During 2022 we have seen a fast-growing interest in Zwipe Access, our new, batteryless biometric smart card solution for access control that offers fast and cost-efficient added security from biometrics without changing the infrastructure. Fraport AG recently launched a project to identify the optimal solution for performing a biometric comparison between the airport ID card and the person requesting access and selected Zwipe Access as one of two finalists in this prestigious innovation project. Fraport AG ranks among the world’s leading companies in the airport business, offering a full range of integrated airport management services with subsidiaries and investments around the globe. It operates 31 airports globally.
Against this background, I was also thrilled to see the successful integration of Zwipe Access on LEGIC’s end-to-end security platform. In LEGIC’s own words, Zwipe Access “…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". The installed base of LEGIC systems comprises 100.000 installations with more than 3 million readers and 150.000 daily users.
Zwipe continues to attract top industry talent, as evidenced by the appointment of Danielle Glenn as CFO and Head of IR and Patrice Meilland as Chief Strategy and Product Officer. Ms. Glenn has spent most of her career in London and New York, working at Goldman Sachs, Caxton Associates and Bywater Capital as a global macro hedge fund manager and Chief Investment Officer, while Mr. Meilland has extensive business and technical experience in the semiconductor, mobile, and payment card industries including 7 years at Idemia and 26 years at ST Microelectronics and ST-Ericsson.
On top of obtaining our Visa certification, the addition of new customers, pilot agreements and partnerships with significant stakeholders worldwide, all contribute to the foundation for future mass-market deployment of our compelling and value-adding technology. These efforts will continue at full speed going forward. Meanwhile, we are supporting customers in getting ready for production and volume deliveries.
Whilst we deplore the Russian aggression on Ukraine, we can advise that Zwipe has no ongoing business in Russia or Ukraine and is not impacted by the war.
All in all, our long-term optimism has only been strengthened with another solid quarter. We firmly believe that millions of consumers everywhere will be using Zwipe enabled biometric payment and access cards in the years to come.
Financial Update
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 more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@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 08:00 CET on 28 April 2022.
OSLO, NORWAY - 19 April 2022 - The share capital increase of 150,000 new shares in Zwipe AS, as resolved by the board meeting of the company on 24 March 2022, has today been registered in the Norwegian Register of Business Enterprises. The new share capital is NOK 3,751,668.50, and the new number of shares and votes is 37,516,685
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 more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market Stockholm. 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 11:30 CET on 19 April 2022.
SCAP becomes a distributor for Zwipe and creates the first starter pack in French for Zwipe Access, the biometric Access control card.
OSLO, NORWAY and VAULX EN VELIN, March 27, 2024 – Zwipe A.S., a company listed on the stock exchanges of Oslo and Stockholm, a pioneer and world leader in the development of biometric technology on cards for identification, access control and payment, has teamed up with SCAP, the leading distributor of access control cards and readers in France, focusing on providing advanced security RFID solutions, to introduce the innovative "biometric system-on-card" to SCAP's customers in France.
SCAP's customer base spans across the entire security industry in France, including physical and logical access system manufacturers, installers, integrators as well as corporations in various industries, including airports, transportation, healthcare, data centers, critical infrastructure, manufacturing, government, and education.
As a testimony of SCAP commitment and to fulfil immediate demand from early adopters, SCAP has placed its first purchase order to Zwipe already and launched the first Zwipe Access starter pack in French language.
Zwipe Access utilizes state-of-the-art biometric capture and matching technology to securely store the cardholder’s encrypted fingerprint template directly within the card’s smart chip during issuance. This integration seamlessly aligns with the requirements of SCAP’s customers, allowing them to integrate biometric verification swiftly, securely, and cost-effectively into their existing security infrastructure.
According to Pierre Yves Dudal, president of SCAP, “In today’s highly secure EU requirements for working environment, having easy access to the latest access technologies is critical for all strategic or sensitive sites. The biometric card provided by Zwipe brings breakthrough ID card technologies to existing identification systems for the next generation of physical and logical access.”
“We are happy to partner with SCAP, a leading advanced security solution distributor. We look forward to developing and strengthening the relationship with the French security market thanks to our local expertise and support, as well as supporting SCAP to deliver best- in-class customization and logistic for access control solutions integration partners globally,”, says Robert Puskaric, President and CEO of Zwipe.
About SCAP
For over two decades, SCAP has been a trusted authority in identification and security solutions. SCAP's extensive experience in RFID cards and readers and close collaboration with the security installers have allowed SCAP to rigorously test and refine SCAP's product range.
SCAP specializes in a wide array of RFID technologies, from the basic Prox 125 kHz and EM/TEMIC to the more sophisticated 13.56 MHz, MIFARE DESfire® EV3, HID iCLASS, SEOS, and beyond. In addition to standard formats, SCAP offers customized encoding options. SCAP's badges come also in combination with the appropriate RFID readers. SCAP is member of SELEPSO Group.
For more information, visit www.scap.name
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
OSLO, NORWAY – 26 March 2024 – Zwipe AS ("Zwipe" or "the company") has today released its Annual Report 2023, including the Board of Directors report and financial statements. The report and annual accounts were approved by the Board of Directors after the close of business on 25th of March 2024. The 2023 Annual Report is attached to this release and available at https://www.zwipe.com/investors/reports.
OSLO, NORWAY – 22 February 2024 – Zwipe AS ("Zwipe" or "the company") today announces its results for the first half of 2023.
Highlights H2 2023
Significant events after the period
H2 2023 operational review
Commenting on the second half of 2023, Zwipe CEO Robert Puskaric says, “Despite our many go-to-market partnerships around the globe and 50+ dialogues with issuers, market adoption of biometric payment cards in 2023 simply did not happen as Zwipe or anyone else in the industry expected. Issuers continue to be slow-moving meaning that commercial orders from our SCM customers and revenues for Zwipe Pay were far lower than anticipated at the start of the year.”
Progress in Zwipe Access has been much more positive, with Puskaric continuing, “Much more optimistically, we have seen considerable interest in biometric access control technology throughout 2023. Across the USA and Europe, we have more than 35 Zwipe Access go-to-market partnerships, and these partners are currently carrying out more than 65 proofs of concept.” These proofs of concept (“PoCs”) of Zwipe Access technology include end-user enterprises including Fortune 100 companies, Top 3 cloud service providers, healthcare facilities, airports, data centers, government agencies, and critical infrastructure operators. These PoCs are expected to translate into commercial orders and meaningful revenue in the short term, with an additional, powerful growth catalyst deriving from the EU NIS2 Directive on cybersecurity requirements in critical infrastructure sectors.
In the USA, Zwipe Access completed a critical operational test and evaluation by National Safe Skies Alliance, Inc. (Safe Skies) at Richmond International Airport (RIC) early in 2024. The Safe Skies team’s report offers a positive assessment of Zwipe Access technology in airports and is expected to motivate airports across the Americas to evaluate Zwipe Access technology. Zwipe continues to make positive progress with our key GTM partners including Schneider Electric, MC Dean, Matrix Systems and NCS in the Americas and in AWT, Assa Abloy, Certego and others in Europe.
Fundraising and new strategic direction
The negative developments in Zwipe Pay and positive developments in Zwipe Access during the second half led to our January 2024 announcement of a new strategic direction for Zwipe, which will see the company focus our resources almost exclusively on commercialization of Zwipe Access where the near-term commercial opportunity is clear.
Just before the January 2024 announcement, Zwipe completed a rights issue in December 2023 raising NOK 35 million in gross capital, with additional capital possible from an exercise of warrants in December 2024. Funds raised in addition to cash on hand will now be directed primarily to accelerating Zwipe Access commercialization, with substantially less required to support additional technology development or supply chain purchases associated with Zwipe Pay. When combined with the June 2023 restructuring, Zwipe expects operational costs to be more than NOK 40 million lower than in 2023. Total cash flow over the coming two years is also expected to be more than NOK 40 million better than if Zwipe had continued to focus on both business lines, giving Zwipe longer runway and greater financial flexibility. These decisive actions alongside funds raised from the rights issue should put Zwipe on a path towards cashflow breakeven, which we hope to reach in 2025.
H2 2023 financial review
Zwipe reported total revenues of NOK 1.2 million during H2 2023, lower than the NOK 3.1 million reported in H2 2022 and the NOK 1.7 million reported in H1 2023. Total operating expenses totalled NOK 44.6 million in H2 2023, down NOK 15.1 million compared to H2 2022, and down NOK 12.9 million compared to the first half of 2023. The above resulted in net income for H2 2023 of NOK -43.9 million, substantially better than NOK -57.1 million reported in H2 2022 and NOK -56.1 million in H1 2023.
Total net cash flow for H2 2023, including cash flow from financing and investing activities, was NOK -33.7 million compared to NOK -59.3 million in H2 2022.
On 31 December 2023, cash and cash equivalents were NOK 42.2 million, compared to NOK 50.5 million on 31 December 2022 and NOK 76.0 million on 30 June 2023. With the remaining outstanding funds from the rights issue of NOK 24.4 million received in early January 2024, the effective “turn of year” cash position was NOK 66.6 million.
Going forward
Zwipe’s priorities for 2024 all involve accelerating Zwipe Access commercialization and maximizing Zwipe’s financial flexibility:
Results presentation
CEO Robert Puskaric and CFO Hugo Petit will present the H2 2023 results by webcast today, February 22nd, at 13:00 CEST.
Webcast details:
Date: 22 February, 13.00 CET
Format: webcast and Q&A
Language: English
Link: https://app.webinar.net/bEArXRLNvJG
Participants will be required to register to view the webcast and participate in the Q&A, and are encouraged to submit their questions before the webcast to ir@zwipe.com.
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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 08:00 on 22 February 2024.
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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.
For more information, please contact:
ir@zwipe.com
Zwipe AS will publish its H2 2023 financial report on 22 February 2024 at 08.00 CET. On the same day at 13.00 CET, the company will host a webcast to present the report. After the presentation, the webcast will be opened up fr questions from the audience.
Participants will be required to register to listen to the webcast and participate in the Q&A.
Webcast details:
Date: 22 February, 13.00 CET
Format: webcast and Q&A
Language: English
Link:
https://app.webinar.net/bEArXRLNvJG
For more information contact:
NEW ORLEANS, LOUISIANA, USA and OSLO, NORWAY – 25th January 2024 - Safe Skies’ evaluation report entitled SSDA—23-032 Zwipe Access Biometric Smart Card was published in November 2023. This report is available to qualified airport personnel at US commercial-service airports via the Homeland Security Information Network (HSIN) or by contacting anna.hamilton@sskies.org with their request.
Safe Skies, an independent third-party, non-profit organization funded by the Federal Aviation Administration, conducts thorough testing of security systems’ detection capabilities, reliability, and maintainability under active airport operational and environmental conditions. Safe Skies performs its evaluations under an ISO 9001:2015-approved Quality Management System.
“We are very pleased with the results of the evaluation,” said Tim Walsh, President of Tadera. “The Zwipe Access system is a highly secure and user-friendly solution that meets the needs of airports. We are confident that this product will be a valuable addition to our portfolio and will help airports enhance their security posture.”
“We are excited to partner with Tadera to bring this innovative biometric access card system to the market,” said Robert Puskaric, CEO of Zwipe. “The encouraging evaluation results instill confidence in our vision that the Zwipe Access system strengthens security at airports worldwide.
For further information, please contact:
Tim Walsh, timothy.walsh@TADERA.com; 504-754-0048 for TADERA
Marcel Williams,marcel.williams@Zwipe.com; 954-649-6222 for Zwipe
About ASSIST
Safe Skies’ Airport Security System Integrated Support Testing (ASSIST) Program is a collaborative effort between US commercial-service airports, the Transportation Security Administration, the Federal Aviation Administration, Airports Council International-North America, American Association of Airport Executives, and Airport Consultants Council. Safe Skies created the ASSIST Program to fulfill its core purpose of helping airport operators meet their security responsibilities using a transparent process for identifying, selecting, and executing projects that are designed to create a more efficient and effective airport security system.
About TADERA
TADERA's commitment to the airport sector spans over 40 years, culminating in our transformation into TADERA from Civix CI. 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 air travel. 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 a seamless 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 – 16 January 2024 – Zwipe AS today announces a company restructuring and new strategic direction, increasing its focus on Zwipe Access and accelerating the commercialization of its biometric authentication technology in the access control market. As a result of the change in strategic focus, the company has initiated a restructuring process that is expected to reduce operational costs, particularly related to Zwipe Pay. On a directly comparable basis excluding one-off costs, the Group expects to reduce operating costs in 2024 by approximately NOK 40 million compared to 2023, combining the effects of Zwipe’s new strategy and the streamlining plan previously announced on 21 June 2023.
“Zwipe has seen considerable traction and progress in the access control market in 2023, with more than 30 partnerships signed or in progress in the USA and Europe. The market is in its early stages but we believe biometric cards can represent a substantial share of the nearly 500 million smart access cards expected to be shipped annually in coming years. Our value proposition is clear, with partners and end-users alike recognizing the substantial benefits of biometric access control technology in terms of security, convenience, and GDPR compliance,” says Zwipe CEO Robert Puskaric.
In addition, in recent months compliance with the EU NIS2 Directive on cybersecurity requirements in critical infrastructure sectors – required by October 2024 and which Zwipe Access provides – has emerged as a critical catalyst for end customers, encouraging them to consider the adoption of biometric access control solutions.
Zwipe has more than 60 proofs of concept in progress with end users, including a Top 3 global cloud service provider, a well-known Swedish consumer technology company, Berkshire Hathaway Energy Group, Fortune 100 companies, and entities including government agencies, airports, critical infrastructure operators, data centers, and healthcare facilities.
“Our new strategic direction will mean laser focus on the singular objective to rapidly achieve commercial success with Zwipe Access, while operating in as lean a manner as possible to maximize our financial flexibility,” says Puskaric.
Zwipe has historically focused primarily on the development and application of its biometric authentication technology in the payments market. Over the last two years, Zwipe completed the development of Zwipe Pay including mobile enrollment solutions, achieved full certification of the technology by both Visa and Mastercard, and spent significant time lining up the biometric payment card (“BPC”) value chain players to launch quickly once banks decided to move forward with biometric payment cards. However, neither market adoption nor the pace of commercial launches has materialized in the manner Zwipe or other players had expected, particularly towards the end of 2023.
“The decision to focus on Zwipe Access is a natural outcome of the traction seen in 2023. However, all the effort that went into developing and certifying Zwipe Pay is what laid the foundation for success with Zwipe Access. Our Access partners and end customers tell us they gain confidence using technology subjected to the rigorous testing required for certification in the payments market,” states Puskaric. Zwipe will continue to serve and fulfill purchase orders from Zwipe Pay customers that have already been certified.
Cost reduction initiatives will begin immediately, with full impact from the middle of the second quarter of 2024. On a net basis, five employees will leave Zwipe, with departures linked to Zwipe Pay, while the Zwipe Access sales team will increase slightly as the company ramps up commercialization efforts here.
Total cash flow over the coming two years is anticipated to be more than NOK 40 million better than if Zwipe had continued to focus on both payments and access control, giving Zwipe significantly longer runway and greater financial flexibility.
“While it is heartbreaking to let highly valued employees go and transition away from Zwipe Pay, we fully believe this is the right course of action for our shareholders. Zwipe Access is a higher margin business with visible commercial inroads, and our objective is for Zwipe to approach breakeven in H2 2025 as a result of higher margins, lower operational costs, and lower supply chain costs,” says CEO Robert Puskaric.
The recently completed rights issue, which includes a possible exercise of warrants in December 2024, should enable this path to profitability.
The Company will host a webcast today, 16 January at 15:00 CET, about our new strategic focus. After the presentation, the webcast will be opened up for questions from the audience.
Webcast details
Date: 16 January 2024
Time: 15:00 CET
Format: Webcast and Q&A
Language: English
Link: https://app.webinar.net/4bmE8YkDrNQ
For further information, please contact:
Robert Puskaric, CEO
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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 08:00 on 16 January 2024.
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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 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.
OSLO, NORWAY – 5 January 2024 – Zwipe has appointed Hugo Petit as interim CFO with Zwipe’s current CFO and Head of IR, Danielle Glenn, deciding to leave the company to join a capital markets advisory and consulting firm
Ms. Glenn has been responsible for Zwipe’s capital markets activities, including the two rights issues in 2023. She has also been instrumental in designing Zwipe’s overall strategic, operating, and investment plans and in restructuring the company to maximize financial flexibility and liquidity. Mr. Petit will join Zwipe as soon as possible, bringing over 20 years of experience as a CFO.
“I am excited to work with Hugo, who has a great deal of experience keeping organizations lean and streamlined while adapting to fast-evolving markets,” says Zwipe CEO Robert Puskaric.
“I would like to thank Danielle for her significant contributions to Zwipe in a difficult environment. She has been a dynamic and integral part of the management team, providing valuable strategic input and handling her myriad cross-departmental responsibilities with efficiency and diligence. The Board and I wish her all the best in her new role,” continues Puskaric.
The company has agreed with Ms. Glenn that she will leave Zwipe at the end of January 2024 but stay on as long as needed thereafter in a consulting capacity to ensure the smooth handover of responsibilities and transition to the new CFO.
For further information, please contact:
Robert Puskaric, CEO
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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 14:05 on 5 January 2024.
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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 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 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 – 3 January 2024 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 14 December 2023 regarding the final allocation of a rights 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 raising gross proceeds of approximately NOK 35 million (the "Rights Issue").
The Rights Issue resulted in the issuance of 64,823,988 Warrants, of which 40,889,612 Warrants were allocated to subscribers in the Rights Issue and 13,480,092 Warrants were allocated to the top guarantor in connection with the Convertible Loan (as defined below). All 64,823,988 Warrants will be listed and tradable on Euronext Growth Oslo for a period commencing today, 3 January 2024 and ending at 16:30 (CET) on 9 December 2024. In addition, the Warrants will be listed on Nasdaq First North Growth Market Sweden for a period commencing today, 3 January 2024 and ending at 16:30 (CET) on or about 10 December 2024. The 10,454,284 Warrants not allocated to subscribers in the Rights Issue or in connection with the Convertible Loan (as defined below) will not be used and will be returned to the Company.
Two (2) Warrants entitle to the subscription of one (1) new share in the Company. 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) of the 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. Consequently, if all Warrants are exercised, the Company expects to raise an additional amount of minimum NOK 3,241,199.40 and maximum NOK 38,894,392.80.
Holders of Warrants may either sell their Warrants or use them to subscribe for shares in the Company, in both cases within the deadlines stated above. As such, the Warrants may have a financial value for the holders, depending on the prevailing market price for the shares in the Company. If the Warrants are not sold or exercised within the respective deadlines, the Warrants will lapse with no compensation to the holders.
For more information pertaining to the Warrants, please see the prospectus prepared in connection with the Rights Issue (the "Prospectus"), which is available on the Company's website www.zwipe.com and on the Swedish Financial Supervisory Authority's website, www.fi.se.
Pre-commitment and bottom guarantee commitments:
In connection with the Rights Issue, the Company 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 received so-called bottom guarantee commitments of approximately NOK 15.8 million. Through the bottom guarantees together with the subscription commitments, approximately 70 percent of the issue proceeds in the Rights issue was 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 were 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 received a so-called top guarantee of approximately NOK 10.5 million. The top guarantee was fulfilled by the top guarantor subscribing for a convertible loan in the Company of NOK 10,514,472 (the "Convertible Loan"). Through the top guarantee, together with the subscription commitments and the bottom guarantee commitments, 100 percent of the issue proceeds in the Rights Issue was secured. For the so-called top guarantee, a compensation of fifteen (15) percent of the guaranteed amount is paid. The top guarantee commitment was not secured by bank guarantee, escrow funds, pledging or similar arrangements. The subscription amount has been paid to the Company.
The top guarantor also had 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 was entitled to subscribe for amounted 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, multiplied by 0.78. Based on these principles, the top guarantor was allocated 13,480,092 Warrants.
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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 07:57 on 3 January 2024.
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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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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.
OSLO, NORWAY – 2 January 2024 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 14 December 2023 regarding the final allocation of a rights 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, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 35 million (the "Rights Issue").
The share capital pertaining to the Rights Issue has now been registered with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company's new share capital is NOK 9,930,334.40, divided into 99,303,344 shares, each with a nominal value of NOK 0.10.
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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 11:30 on 2 January 2024.
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For further information contact:
Danielle Glenn, CFO and Head of IR, Zwipe
E-mail: ir@zwipe.com
