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MTI Investment SE completes the acquisition of 56 percent of the shares in Techbridge Invest AS

STOCKHOLM, SWEDEN - The board of directors in MTI Investment SE (ticker: MTI) ("MTI" or the "Company") can today announce that it today, on 17 October 2022, has entered into a share purchase agreement with Fetter Anton Invest AS (controlled by Ida and Sondre Rideng) regarding the acquisition of 56 percent of the shares in Techbridge Invest AS. The closing takes place today. The total purchase price amounts to SEK 1,245,773.1 and is paid in the form of 319,429 newly issued shares in MTI. The board of directors has, therefore, based on the authorization from the annual general meeting on 9 June 2022, resolved to issue 319,429 new shares to the seller Fetter Anton Invest AS.

The value of the 60,000 shares purchased has been calculated as a total of SEK 1,245,773.1 which corresponds to 319,429 new shares being issued in MTI at a subscription price corresponding to SEK 3.90 per share. The subscription price corresponds to a discount of approximately 2.5 percent compared to the closing price of MTI's share on 14 October 2022.

The reason for the new share issue and for not applying the shareholders' pre-emption rights is that the Company has as of today, through entering into a share purchase agreement, acquired 56 percent of the shares in Techbridge Invest AS. In connection with the acquisition, the Company has undertaken to pay the purchase price in the form of newly issued shares in MTI.

Following the issuance of the new shares in MTI, MTI will have a registered share capital of EUR 1,140,605.80 divided into 5,703,029 shares. The new issue entails a dilution effect of 5.6 percent.

In 2021, Techbridge Invest AS had revenues of NOK 5.4 million (EUR 540,000) with an operating profit of NOK 181,000 (EUR 18,000). Most of the revenues come from private and public grants supporting Techbridge's accelerator programs in East Africa. In terms of investments, Techbridge has a 5 percent holding in Pangea Angels 1, which in turn owns 9 percent in WorkPay. Techbridge also owns 44 percent of Sunergetic AS, which in turn owns 80 percent of Sunami Uganda and 76 percent of Sunami Kenya. Techbridge directly owns 20 percent of Sunami Uganda.

CEO Pontus Engström says: "This acquisition opens a whole new palette of opportunities in East Africa, with MTI expanding its presence into Uganda and Kenya, and further diversifying our portfolio into eight holdings. The investments in renewable energy, via the investments in Sunami, reinforce MTI's social impact and support of the 7th sustainable development goal of Affordable and Clean Energy. An investment in MTI essentially covers 16 out of 17 UN SDGs. Kenya is a strong base for tech investments. The digital platform for HR and payroll, WorkPay, is an example of the fine startups we see in the region. In addition, Techbridge provides MTI with access to an experienced and competent team on the ground who have great traction in executing value-enhancing incubator and accelerator programs."

Certified Adviser
The Company's Certified Adviser is Mangold Fondkommission AB which can be reached at 08-5030 1550 and by e-mail [email protected]

For additional information
Pontus Engström, CEO, MTI Investment SE
[email protected]
+46 70 716 55 38

About MTI Investment
MTI Investment SE is a Nordic investment and venture-building company, founded in 2014 by a team with extensive experience from emerging markets with the aim of investing in East African small and medium-sized enterprises ("SME") with high value-adding potential. The Company is active in the expansive East African market, and by being a long-term and active owner, MTI Investment helps its portfolio companies grow faster and become more profitable. The Company invests primarily in innovative and scalable companies that have the potential for a significant positive impact on society. 

This information is information that MTI Investment SE is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out above, at 09:40 CET on 2022-10-17.

MTI increases in Fintech Africa to 5.3 percent

STOCKHOLM, SWEDEN - MTI Investment SE ("MTI" or the "Company") with ticker MTI announces today that it is increasing its ownership in the fast-growing FinTech Africa to 5.23% in a cash equity issue, investing SEK 500,000 to fund the company´s continued expansion in Tanzania and East Africa.


MTI säljer 12 procent av aktierna i Zanrec AB för SEK 2 miljoner

MTI Investment meddelar idag att man idag har avyttrat 12 procent av aktierna till Holdingsselskabet Claus Jørgensen II ApS för 190 000 USD, som i och med förvärvet får ett ägande om 25 procent i Zanrec. I samband med denna förändring går även Martin Rex Empacher in MTI Investments Advisory Board. Genom att MTI:s ägande minskas till 49 procent uppnås stora besparingar för MTI, då framtida rapportering förenklas genom att man för Zanrec därmed slipper kravet på konsolidering.


MTI sells 12 percent of the shares in Zanrec AB for SEK 2 million

MTI Investment announces today that it has today divested 12 percent of the shares to Holdingsselskabet Claus Jørgensen II ApS for USD 190,000, which with the acquisition will have an ownership of 25 percent in Zanrec. In connection with this change, Martin Rex Empacher also joins the MTI Investments Advisory Board. By reducing MTI's ownership to 49 percent, large savings are achieved for MTI, as future reporting is simplified by eliminating the requirement for consolidation for Zanrec.


Core Holdings Update Q3 2022


On investment opportunities in food and water - meet CEO Pontus Engström at the SWEACC breakfast event on November 16th, 2022

STOCKHOLM, SWEDEN - MTI Investment CEO Pontus Engström will discuss their experiences in East Africa in the agri sector, including the recently announced investment in sustainable protein company Chanzi. The event is hosted by SWEACC - the Swedish East African Chamber of Commerce.


MTI Investment SE completes the acquisition of 56 percent of the shares in Techbridge Invest AS

STOCKHOLM, SWEDEN - The board of directors in MTI Investment SE (ticker: MTI) ("MTI" or the "Company") can today announce that it today, on 17 October 2022, has entered into a share purchase agreement with Fetter Anton Invest AS (controlled by Ida and Sondre Rideng) regarding the acquisition of 56 percent of the shares in Techbridge Invest AS. The closing takes place today. The total purchase price amounts to SEK 1,245,773.1 and is paid in the form of 319,429 newly issued shares in MTI. The board of directors has, therefore, based on the authorization from the annual general meeting on 9 June 2022, resolved to issue 319,429 new shares to the seller Fetter Anton Invest AS.


MTI Investment invests SEK 1.1 million (EUR 103.000) in fast growing, sustainable animal feed company Chanzi

STOCKHOLM, SWEDEN - In a financing round led by FINCA International, Inc., MTI Investment has invested USD 100.000 in a convertible debt note in Chanzi Limited, a leading East African producer of sustainable and nutritious animal feed that specializes in converting food waste with the help of black soldier fly larvae.


Join MTI in our January investor trip to Zanzibar

STONE TOWN, ZANZIBAR - Welcome to join the MTI investor trip to Zanzibar during January 15-18, 2023.


MTI Investment SE has signed a term sheet with the intention of acquiring 56 percent ownership, valued at SEK 1.2 million, in Techbridge Invest AS

STOCKHOLM, SWEDEN - MTI Investment SE (MTI) announces today that it has signed a term sheet about an intended acquisition of 56 percent of the shares, valued at SEK 1.2 million, in Techbridge Invest AS. The transaction is to be carried out through a share swap. The intended acquisition strengthens MTI's ability to take part in capacity building, accelerate and scale up small and medium-sized companies in East Africa, Kenya, and Uganda. It also improves MTI's investments into fintech and solar energy through the holdings in Techbridge Invest AS.


JANUARY 2023 MTI INVESTOR TRIP

Welcome to the 2023 MTI Investor Trip to Zanzibar, Tanzania. The weather is expected to be nice and sunny. Join alone, or bring a partner or interested child. They will all be able to enjoy this trip.


MTI half-year report (H1) 2022

"Over the past eight years, our investments have generated huge social impact - hundreds of jobs, healthy food products, houses, bank branches for improved access to finance, genuine and safe cosmetics, and saved nature from thousands of tons of waste. Our companies, even though challenges remain, are now more than ever focused on profitable growth, and particularly satisfying to see that Shambani Milk made a strong lift after seeing its performance drag for several quarters."
Pontus Engström, CEO of MTI Investment


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