Information to Evendo shareholders following delisting from Spotlight Stock Market
October 1, 2018, delisting of Evendo AB's "Evendo B" share from Spotlight Stock Market was announced by the company and Spotlight. The delisting is in accordance with the company's long-term plan of positioning Evendo on a fully regulated marketplace. All activities of the company continue according to the commercial plan.
Evendo AB was, until July 11th, 2018 known as ADONnews Sweden AB. At this date, the company was acquired by the Danish company Evendo International A/S in a so-called reverse acquisition. At the same time, all prior activities of ADONnews Sweden AB were spun out. Evendo International A/S thus acquired the legal entity only.
The acquisition was a strategic decision by Evendo. Following years of meticulous preparations, tests and optimizations - with a total investment in excess of 40 MSEK - the company is now looking to scale globally.
Evendo is in its nature hyper-scalable and prepared for such scaling, wherefore positining itself in a regulated marketplace is a natural part of the strategy.
As the company has access to funding supporting the operations, it has decided to complete a listing, without performing a traditional IPO. A requirement in a regulated marketplace to ensure liquidity in the share, demands a certain number of shareholders.
Evendo was, until the reverse acquisition, funded by its founders and a small group of Danish and Swedish private persons. WIth the acquisition of ADONnews Sweden AB Evendo holds in excess of 700 shareholders.
At the time of acquisition, the company ADONnews Sweden AB was trading on the observation list of Spotlight Stock Market in Stockholm. By not renewing the listing procedure following the reverse acquisition, Evendo could see the company delisted from Spotlight Stock Market and thus prepared for listing in a fully regulated marketplace.
"Our intention was a controlled delisting process", Kasper Larsen (CEO) explains. "We did not anticipate a desire from Spotlight to accelerate such process. As the communication channels are under the full control of Spotlight Stock Market, the end result was, that these were effectively closed from the moment the delisting decision was communicated. We were thus unable to inform our shareholders - which is regrettable. Had we known, we would naturally have informed thoroughly prior to the actual delisting."
As the delisting follows the company's long-term plan, no negative impact is seen on commercial activities, which all commence as previously announced.
With its financial advisors, the company is - and was - fully prepared for relisting.
Initial intention was an immediate relisting on a fully regulated Swedish marketplace. However, the commercial activities in London, UK, has resulted in significant interest. This has opened a new array of options, which the company is currently assessing.
A final decision and information is expected before November 15, 2018. All possible outcomes see a listing in a fully regulated marketplace.
Until trading is resumed, communication will be performed utilizing BeQuoted and the company's website, which is found at http://about.evendo.com , where sign-up for receipt of regular news briefings can also be made.
Once Listing Memorandum has been submitted, copy hereof will be available to shareholders.
October 29, 2018
P: +46 855 92 33 86
Evendo redefines the way we plan and do events. Think "Booking.com for events" with a built-in planning tool on top, and an app-based assistant guiding participants through the actual events. With Evendo, customers will find anything they need for their event - from venues to a wide variety of activities - all of which can be booked directly across a large base of suppliers.
Evendo has been testing the Danish market since August 2016. During this period, Evendo has easily become the largest and fastest-growing event portal in Denmark with an impressive customer-base and a rapid increase in market positioning. During the first year of operations, more than 50,000 event experiences were booked through Evendo.
Evendo is the world's first end-to-end event platform, facilitating effortless planning, streamlined booking, and the seamless execution of events, through its innovative and intuitive design. There is currently no identifiable match or competition to Evendo worldwide.
Evendo was founded in 2015 by experienced entrepreneurs with several international success stories - including the Sitecore growth phenomenon, recently acquired by EQT for more than €1 billion.
For more information, please visit http://about.evendo.com
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Reference is made to press release dated June 18, 2019.
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