Published: 2021-04-28 14:12:57 CEST
Penneo A/S
Chang. board/management/certified advisors

Christian Sagild elected new Chairman of Penneo and grant of warrants

Company Announcement No. 11-2021
Copenhagen, 28 April 2021

Today, Penneo announces the election of Christian Sagild as new Chairman. In relation to the election, the Board of Directors exercised part of its current authorization to issue warrants to Christian Sagild.

At the annual general meeting on 28 April, Christian Sagild was elected as a new member of the Board of Directors. Subsequently, Christian Sagild was elected Chairman of the Board at the constituent meeting following the annual general meeting.

In connection with the election of Christian Sagild as new Chairman of the Board, the Board of Directors of Penneo has today exercised part of its current authorization to issue a total of 406.377 new warrants to Christian Sagild.

The exercise price is fixed at DKK 53.7864 per share corresponding to the average of the average share price for the 5 days prior to the date on which the Board of Directors decided to grant the warrants. The warrants will vest over 36 months starting from the first day of employment, Warrants that have not been exercised before 28 April 2029 will lapse automatically. Warrants can be exercised in periods of four weeks starting the day after the publication of the Company's annual report, half-year report or quarterly report, respectively.

The warrants include conditions on accelerated vesting in case of change of control, e.g. a takeover bid, merger or delisting. The warrants are issued in accordance with section 4 of the Articles of Association.

The theoretical market value of one warrant granted is DKK 14,86 (calculated using the Black Scholes model). The key assumptions for the calculation are a share price of DKK 53.7864, an exercise price of DKK 53.7864, volatility of 25%, and a risk-free interest rate of 0%.

Further information

Christian Sagild
Chairman of the Board 
Tel.: (+45) 21 41 04 87

Interim CEO, Nicolaj Højer Nielsen
Mobile (+45) 25 46 25 80

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11, Mobile (+45) 31 79 90 00

About Penneo A/S

Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automated solutions that digitizes company workflows related to the onboarding of customers (KYC), as well as signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive manner. Penneo has a strong position in the Nordic countries and in Denmark, where more than 620,000 persons used Penneo’s workflow in 2020.

For information about Penneo, please visit