Punktid Technologies AS hereby announces that the stock exchange has initiated supervisory proceedings regarding Punktid Technologies AS, which may result in a sanction, including the potential termination of trading.

The supervisory proceedings and the possible termination of trading are in line with the Management Board’s proposal and the resolution adopted by the Supervisory Board in the second half of 2024 to, if possible, withdraw from the stock exchange in the event that potential investors cannot carry out their intentions on the First North market. Immediately before the start of the supervisory proceedings, it became clear that the desired plans could not be implemented.

Reasons for delisting

• We have decided to leave First North because the current market situation and our strategic objectives no longer align with First North’s conditions.
• Our presence on the exchange does not provide advantages for either investors or the company. We will henceforth focus on continuing our profitability and sustainability outside of First North.
• Due to insufficient trading activity on the exchange, this environment is not beneficial for investors or the company. Listing on the exchange does not significantly facilitate capital-raising or provide valuable market information through share price fluctuations.

Advantages of Delisting

• Increasing efficiency - delisting will further improve the financial position of the Punktid group and allow a stronger focus on profitability and growth-oriented activities.
• New strategy - the company is exploring new opportunities for raising capital and restructuring that are not feasible on First North. The company may also prepare for a future merger with another group or listed company, for which maintaining a separate listing on First North would no longer be reasonable.
• Negotiations concerning the company’s value with potential investors will no longer depend on market sentiment.

If the stock exchange does not decide to terminate trading, the Supervisory Board’s decision to delist will be put to a vote after the conclusion of the supervisory proceedings.

Reasons for the Supervisory Proceedings

• Disclosure of discussions with potential investors - the stock exchange is uncertain whether ongoing talks with potential investors should have been disclosed immediately, in addition to the information already made public: https://view.news.eu.nasdaq.com/view?id=1321344&lang=en
• Advisor involvement requirement - in connection with potential investors, we submitted questions directly to the stock exchange. Therefore, the stock exchange requires confirmation as to whether the agreement between the issuer and the advisor was still valid and whether these same questions were also presented to the advisor.
• Late disclosure of the audited annual report - the audited annual report was published after the stipulated deadline.
• Non-payment of the imposed contractual fine by the due date - the fine was related to the late publication of the audited annual report.

For more information, please contact:

Hannes Niid
Member of the board of Punktid Technologies AS
E-mail: invest@punktid.com
www.punktid.com/investor