Interim Report January – June 2023
01 September 2023 - 1:30AM
Interim Report January – June 2023
Second quarter
2023
- Net sales for the quarter amounted
to MSEK 9 (19)
- Gross for the quarter decreased to
51% (69%)
- Operating loss increased to MSEK -16
(-12)
- Earnings per share before and after
dilution increased to SEK -0.05 (-0.07)
- On April 5, Anoto announced that it
is in late-stage discussions regarding a potential order of several
hundred thousand pens. In order to finance a timely delivery of
pens regarding the potential order and improve financial position,
the Board of Anoto resolved to carry out a directed share issue of
20 million SEK and a rights issue amounting to in total
approximately SEK 20 million. The rights issue is guaranteed to 50
per cent and both the directed issue and the rights issue was
approved by an Extraordinary General Meeting.
Directed IssueThe Board of Anoto
resolved on the issue of 50 million new ordinary shares with
deviation from the shareholders preferential rights, raising
proceeds of SEK 20 million before transaction related costs. The
Directed Issue was subject to the approval by the EGM, which was
held on 4 May 2023. The new shares were subscribed for by Beof
Company Ltd., a Korean company. The subscription price was
determined based on the closing price of the Company's ordinary
share on Nasdaq Stockholm on April 4, 2023 of SEK 0.4 per share,
which meant that the subscription price corresponded to a premium
of approximately 2.6 percent.
The new shares in the Directed Issue
corresponds to approximately 15.1 percent of the total number of
shares in the Company after dilution also including the new shares
issued in the Rights Issue (see below).
Rights issueThe Board of Anoto
resolved on a new issue of ordinary shares with preferential rights
for the existing shareholders, raising proceeds of approximately
SEK 20 million before transaction related costs. The Rights Issue
was subject to the approval by the EGM, which was held on 4 May
2023. In the Rights Issue, Anoto’s then-current shareholders had a
preferential right to subscribe for new shares in proportion to the
number of shares held on the record date. The subscription price
was set to SEK 0.40 per share and the Rights Issue comprised
approximately 50 million ordinary shares. The new shares in the
Rights Issue corresponded to approximately 15.1 percent of the
total number of shares in the Company after dilution also including
the new shares issued in the Directed Issue.
On June 9, Anoto announced that the
subscription ratio in the rights issue amounted to 69.3 percent.
Guarantee undertakings corresponding to 15,740,288 shares,
corresponding to approximately 30.7 of the shares in the rights
issue, thus was utilized.
- Anoto AB raised additional USD 1.4
million dollars on the sale of KAIT shares held by Anoto. The
shares were placed mainly to European based Venture Capital
companies and individual investors. The transaction was done at a
USD 12 million on a fully diluted basis. This was done in line with
Anoto board’s decision to make KAIT independent. As an independent
company KAIT can raise financing by itself and reduce burden on
Anoto. Making KAIT independent means deconsolidation (lowering
Anoto ownership below 50%), which substantially reduces Anoto’s
financial liabilities and improve earnings as KAIT’s monthly burn
rate is having a major impact on Anoto’s earnings.
- Events after the reporting period
- On July 31, Anoto announced that the board of Anoto had,
pursuant to the authorisation granted at the Annual General Meeting
held on 30 June 2023, resolved on a directed issue of convertibles
and warrants. Through the issue, SEK 15.6 million would be raised
by the Company before transaction costs. All convertibles was
signed by an international institutional investor. The convertibles
were issued at a subscription price corresponding to 100 percent of
the nominal amount of the convertibles. The convertible loan does
not carry interest. Holders of the convertibles have the right to
convert all or part of the convertible loan into new ordinary
shares in the Company during the period from and including 20
August 2023 up until and including 20 January 2025. The conversion
price amounts to SEK 0.52 per ordinary share, which corresponds to
130 percent of the closing price of the Anoto share on 28 July
2023. The loan is due for payment on 31 January 2025, insofar as
conversion has not taken place before then. The Board of Anoto also
decided to issue up to 10,000,000 warrants to subscribers in the
above convertible issue. All warrants had therefore been subscribed
and allotted to the same international institutional investor. Each
warrant gives the right to subscribe for one new ordinary share in
Anoto at a subscription price of SEK 0.52, which corresponds to 130
percent of the Anoto share's closing price on 28 July 2023, during
the period from and including 1 August 2023 to and including 31
January 2025. The warrants were issued free of charge.
- On August 7, Anoto held an EGM to approve the sale of KAIT
shares to Joonhee Won, CEO of Anoto, and Jorgen Durban, Chairman of
the Board of Anoto. The EGM approved the transactions and Anoto
transferred 1,250,000 common shares in KAIT to Joonhee Won and
100,000 common shares in KAIT to Jörgen Durban at the same
valuation as in the most recent sales of shares in KAIT to external
investors. Through the transactions, Anoto received 1,350,000
USD.
January – June 2023
- Net sales for the period amounted to
MSEK 22 (37)
- Gross margin for the period
decreased to 74% (80%)
- Operating loss increased to MSEK -31
(-22)
- Earnings per share before and after
dilution increased to SEK -0.10 (-0.11)
For further information, please
contact:
Joonhee Won, CEO, Anoto Group AB
For more information about Anoto, please visit
www.anoto.com or email ir@anoto.com
This information is information that Anoto Group AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation
and the Securities Market Act. The information was submitted for
publication, through the agency of the contact person set out
above, on 31 August 2023 at 17:30 CEST.
About Anoto Group
Anoto is a publicly held Swedish technology
company known globally for innovation in the area of
information-rich patterns and the optical recognition of those
patterns. It is a leader in digital writing and drawing solutions,
having historically used its 30proprietary technology to develop
smartpens and the related software. These smartpens enrich the
daily lives of millions of people around the world. Anoto currently
has three main business lines: Livescribe retail, Enterprise Forms
and OEM. Anoto also holds a stake in Knowledge AI, a leading AI
based education solution company. Anoto is traded on the Small Cap
list of Nasdaq Stockholm under ANOT.
- Anoto delårsrapport januari-juni 2023_Final
- Rapport Q2_2023_En
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