ZignSec AB (publ) ("ZignSec" or the 'Company') announces that G2 Acquisition Inc. ("G2RS"), which holds more than 90 percent of the total number of shares and votes in ZignSec, has requested a squeeze-out process of the remaining shares in ZignSec. Against this background, and at the request of G2RS, the Board of Directors of ZignSec has decided to apply for delisting of the Company's shares from Nasdaq First North Growth Market.
On 4 September 2024, G2RS announced a recommended public cash offer to the shareholders and holders of warrants of series TO1 in ZignSec to transfer all shares and warrants of series TO1 in the Company to G2RS for SEK 1.38 in cash per share and SEK 1.13 in cash per warrant of series TO1 (the "Offer"). On 8 November 2024, G2RS declared the Offer unconditional and announced that the Offer would be completed whereby the Offer was accepted by holders of 195,473,803 shares, corresponding to approximately 94.6 percent of the total number of shares and votes in ZignSec, and by holders of 15,718,000 warrants of series TO1, corresponding to 100 percent of the outstanding warrants of series TO1. In addition, the acceptance period for the Offer was extended until 22 November 2024 to give the remaining shareholders in the Company time to accept the Offer. On 22 November 2024, the Offer was completed whereby G2RS controlled 200,553,120 shares and 15,718,000 warrants of series TO1, corresponding to 97.06 percent of the total number of shares and votes in the Company, and 100 percent of the total number of outstanding warrants of series TO1. G2RS thereby controls more than 90 percent of the total number of shares and votes in the Company. G2RS has requested a squeeze-out process of the remaining shares in ZignSec and requested that the Company applies for delisting.
In light of the above, the Board of Directors of ZignSec has decided to apply for delisting of the Company's shares from Nasdaq First North Growth Market. The last day of trading in ZignSec's shares on Nasdaq First North Growth Market will be announced as soon as ZignSec has received notification thereof from Nasdaq Stockholm.
Stockholm, 10 December 2024
ZignSec AB (publ)
The Board of Directors
For more information:
Glenn Macdonald, CEO
glenn.macdonald@zignsec.com
About ZignSec AB (publ)
ZignSec is a technology group in the rapidly growing RegTech industry. The company provides a SaaS platform with real-time digital customer knowledge and ID verification solutions with global reach. The solutions are used by companies who in turn can optimize their processes to "onboard" both business customers and consumers while ensuring compliance with ever-changing local and global regulatory requirements for Know Your Customer (KYC), Know Your Business (KYB) and Anti Money Laundering (AML).
Nasdaq First North Growth Market (ZIGN)
Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00
