Spark for Tyrill

SPARK Technology is pleased to announce that the initial share issuance in Tyrill AB has been submitted for registration with the Swedish Companies Registration Office (Bolagsverket), and SPARK has received a cash settlement of SEK 10 million from the transaction.

Once the first share issuance is fully registered with Bolagsverket, the subsequent issuance involving SPARK's contribution in kind will be registered, and SPARK will receive its shares in Tyrill AB.

The selected Swedish investment banks working with Tyrill AB have commenced the process of raising capital for Tyrill AB's planned IPO. The investment banks have recommended postponing the listing until after the summer, with an expected timeline in August/September. This recommendation is based on their belief that entering the market just before the traditional holiday period would be disadvantageous. Consequently, Tyrill has chosen to follow this advice and postponed the originally planned June listing.

SPARK's management has considered the possibility of directly distributing the received Tyrill shares to its own shareholders. The management believes it is not natural for SPARK to manage these shares on behalf of its shareholders. Therefore, a recommendation has been sent to the board to explore the possibility of distributing these shares directly to SPARK’s shareholders.

The expectation is that the board of SPARK will propose such a distribution at an extraordinary general meeting after the shares are received. If this distribution is approved, it is anticipated to occur after the summer, as the process requires some time.

We will continue to update the market on the developments in the processes following the transaction with Tyrill AB.

For further Information, please contact:

Jens B. Glaso, CEO SPARK Technology A/S. Phone +47 40 40 47 50, e-mail: jens@spenn.com

SPARK Technology A/S

CVR nr.: 26518199

Njalsgade 76, 4.

2300 København S

Tel: +45 8830 000

https://sparktechnology.dk