MapsPeople A/S: Capital Requirement


MapsPeople A/S - Inside information

Company Announcement No. 36-2023

Aalborg, December 14, 2023

Capital Requirement 2024 

As mentioned in Company Announcement 28-2023 from November 14th 2023 MapsPeople announced a capital requirement of mDKK 15-20 to fully finance the operational plan through 2023 and 2024 until positive cash flow. 

In company Announcement 33-2023 MapsPeople announced completion of a Private placement generating mDKK 8.5 in new equity.

Today MapsPeople announces that we have entered into an agreement with EIFO for additional loans of mDKK 8.0, where of mDKK 5.0 can be drawn in December 2023 and the remaining mDKK 3.0 is contingent on reaching an ARR target that the company expects to achieve early in Q1-2024. In addition, the new loans and all existing loans with EIFO will be interest only payments in 2024, which generates an additional mDKK 4.8 positive cash flow impact within the 2024 budget.

The new equity, the new loans and the interest payment only in 2024 on all new and pre existing loans in total provides mDKK 21.3 additional capital in the 2024 budget, thereby financing the company’s operational plan for 2024 fully covering the announced capital requirements in Company Announcement 28-2023.



MapsPeople A/S

Morten Brøgger, CEO 

Mobile (+45) 31 23 48 72 


Stigsborgvej 60, 9400 Nørresundby 



Certified Advisor

Grant Thornton

Jesper Vestergaard

Mobile (+45) 31 79 90 00

Stockholmsgade 45 

2100 Copenhagen Ø




This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople 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, including but not limited to, the United States, Australia, Canada or Japan.

This announcement does not constitute an offering circular, company description or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople except as described in this company announcement.

Neither the existing shares of MapsPeople (the "Existing Shares") nor the New Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the Existing Shares nor the New Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Private Placement is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures.

Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. MapsPeople has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.