Registration of share capital increase of 13,719,337 new shares completed

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING MEMORANDUM OR A PROSPECTUS AS DEFINED BY REGULATION (EU) NO. 2017/1129 OF 14 JUNE 2017.

Registration of share capital increase of 13,719,337 new shares completed

In connection with the private placement of a total of 17,319,337 shares (nominally DKK 69,277,348) of DKK 4.00 each comprising new shares and existing treasury shares that was completed on 25 May 2023 (the "Placing”), GN Store Nord A/S ("GN") hereby announces that GN has registered with the Danish Business Authority the capital increase of a nominal value of DKK 54,877,348 corresponding to 13,719,337 shares of DKK 4.00 each (the "New Shares”), representing 10% of the registered share capital of the Company prior to the capital increase and 9,1% of the share capital following the share capital increase.

The existing treasury shares (the "Treasury Shares”) sold as part of the Placing have in connection with the launch of the Placing been transferred to a temporary ISIN code DK0062495669. Accordingly, both the New Shares and the Treasury Shares sold in the Placing are delivered in the temporary ISIN code DK0062495669. The temporary ISIN code is expected to be merged with the permanent ISIN code for the existing shares, DK0010272632 on or around 1 June 2023.

The New Shares are expected to be admitted to trading and official listing under the permanent ISIN code on Nasdaq Copenhagen A/S with effect from 31 May 2023.

After registration of the share capital increase, the share capital of GN amounts to nominally DKK 603,650,860 divided into 150,912,715 shares of DKK 4.00 each. The total number of voting rights in GN are 603,650,860.

Reference is made to company announcements no. 19/2023 and no. 20/2023.

An updated version of the Articles of Association is attached and can also be found at www.GN.com.

For further information, please contact:

Investors and analysts
Anne Sofie Staunsbæk Veyhe +45 45 75 85 06
Rune Sandager +45 45 75 92 57


Press and the media
Steen Frentz Laursen +45 20 65 34 20

Important notice

This announcement does not constitute an offering memorandum or a prospectus as defined by Regulation (EU) No. 2017/1129 of 14 June 2017 and nothing herein contains an offering of securities.

This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by GN Store Nord A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.

This announcement and the information contained herein are not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the "United States”). This document does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States.  Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act”) and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

In any member state of the European Economic Area ("EEA Member State”), other than Denmark, this announcement is only addressed to, and is only directed at, investors in that EEA Member State who fulfil the criteria for exemption from the obligation to publish a prospectus, including qualified investors, within the meaning of Regulation (EU) No. 2017/1129 of 14 June 2017.

In the United Kingdom, this announcement is only being distributed to and is only directed at: (A) qualified investors, as such term is defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018; and who are also (B)(i) persons outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order”) or (iii) high net worth entities falling within Article 49(2)(a) – (d) of the Order (the persons described in (A) and (B)(i) through (iii) above together being referred to as "relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

No prospectus has been made available in connection with the matters contained in this announcement and no such prospectus is required to be published.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in GN’s securities. Any investment decision to purchase or offer to purchase GN’s securities in connection with the Placing must be made solely on the basis of publicly available information, which has not been independently verified by BNP PARIBAS, Danske Bank A/S, DNB Markets, a part of DNB Bank ASA, J.P. Morgan SE, Nordea Danmark, filial af Nordea Bank Abp, Finland, and Skandinaviska Enskilda Banken, Danmark, filial af Skandinaviska Enskilda Banken AB (publ), Sverige (the "Joint Global Coordinators”).

The Joint Global Coordinators and their affiliates are acting exclusively for GN and no-one else in connection with the Placing. They will not regard any other person as their respective clients in relation to the Placing and will not be responsible to anyone other than GN for providing the protections afforded to their respective clients, nor for providing advice in relation to the Placing, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

In connection with the Placing, the Joint Global Coordinators and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase shares in GN and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such shares and other securities of GN or related investments in connection with the Placing or otherwise. The Joint Global Coordinators do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so. 

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and that can be identified by words such as "believe”, "expect”, "anticipate”, "intends”, "estimate”, "will”, "may”, "continue”, "should”, and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although GN believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. GN expressly disclaims any obligation or undertaking to release any updates or revisions to the forward-looking statements set forth herein. Accordingly, GN urges readers not to place undue reliance on any of the forward-looking statements set forth herein. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.

The information in this announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities in any jurisdiction. This announcement does not constitute a recommendation concerning any investor’s option with respect to the Placing. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of GN’s securities can go down as well as up. Past performance is not a guide to future performance.

Neither the content of GN's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

About GN

GN facilitates communication between people through intelligent hearing, audio, video, and gaming technology. Inspired by people and driven by our passion for innovation, we leverage technologies to deliver unique user experiences that bring people closer through the power of sound and vision.

GN was founded more than 150 years ago with a vision to connect the world. Today, we proudly honor that legacy with our world-leading expertise in the human ear, audio, video and speech, wireless technologies, software, miniaturization, and collaboration with leading technology partners. GN's solutions are marketed by the brands ReSound, SteelSeries, Jabra, Beltone, Interton, BlueParrott, Danavox and FalCom in 100 countries. Founded in 1869, the GN Group employs 8,000 people and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter

Attachment

• Articles of Association