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Penneo signs deal with Bankdata
Read more about key features, ARR guidance, management commentary and significant events for Penneo in 2021.
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Equity story
Equity story
Penneo is a Danish ARR-driven software-as-a-service (SaaS) company and a market leader in the audit and accounting software industry in the Nordics. Penneo is a scalable platform that provides automation features across multiple aspects of digital transactions and digitizes company workflows related to client onboarding (KYC), digital signing, and document management in a compliant, efficient, and easy way.
The early stage of digitization in Europe and the strong network effects provided by international Big10 audit customers are powerful enablers for Penneo to become the de facto standard for the audit and accounting industry in Europe. The strong network effects serve Penneo as branding and distribution channels to all the auditors’ clients locally and globally.
Penneo taps into the global trends of increased regulations, sustainability, and digitalization.
Video afspelen
The share
Current share price
Dividend Policy
The Company’s dividend policy is described in the Future dividends section. Dividends not claimed by shareholders will be forfeited in favor of the Company, normal after three years, under the general rules of Danish law on statute of limitations.
Future Dividends
The Company’s ability to pay dividends will depend, among other things, on its financial condition, working capital requirements, and the availability of distributable profits and reserve and cash available, and other factors as the Board of Directors may deem relevant. The Company has no intention to pay dividends in the coming years. The Company is in a growth phase and intends to reinvest any profit in activities to continue the growth. Dividends are decided by the Annual General Meeting following a proposal from the Board of Directors.
Dividend Restrictions
The Company has signed a dividend limitation agreement meaning that the Company cannot propose a resolution to pay dividends without the consent from Vækstfonden.
Share capital
- The nominal share capital of the company is DKK 541,473.62. The share capital is not divided into share classes.
- The nominal share capital is divided into shares of DKK 0.02 or multiples thereof.
- The share capital has been paid up in full.
- The shares shall be registered by name in the company’s register of shareholders. The register of shareholders is kept by VP Securities A/S, CVR-no. 21 59 93 36.
- The shares are negotiable instruments. There are no restrictions on the negotiability of the shares.
Announcements & Financial reports
Announcements
Our announcements are currently in English and Danish. Contact us for more information.
Announcements
See More
Penneo in the media
EuroInvestor – Børshus ser kæmpe kurspotentiale i lille dansk aktie
Børsen – Investeringsbank indleder dækning af ny dansk aktie: Kan stige op mod 76 pct.
Finans – Sådan vil vækstbørsens mønsterelev sætte sin signatur på fondsbørsen
Finans – Efter et år på First North vil Penneo opgraderes til hovedbørsen
IT Watch – Softwarehus vil på kundejagt efter kapitalindsprøjtning
Børsen – Penneo vil skrives ind på hovedbørsen og rejse 100 mio. kr.
Børsen – Her er aktierne, der tager fokus i dagens handel
Euroinvestor – Lille dansk aktie vil tiltrække større investorer
IT Watch – Softwarehus vil hente flere kunder i den finansielle sektor
Events & Presentations
Events
Presentation of the Annual report
February 23, 2022
Investor Forum Online
February 24, 2022
SaaS Day
April 6, 2022
Presentations
Financial Calendar
Financial calendar
Annual Report
February 21, 2022
Annual General Meeting
April 27, 2022
Quarterly Report
May 24, 2022
Half-Yearly Report
August 24, 2022
Quarterly Report
November 23, 2022
Corporate governance
Investor Portal and General Meetings
As a Shareholder, you have the option to use Penneo’s Investor Portal. In the Investor Portal, Shareholders can check the amount of shares they hold in Penneo. Shareholders who fill in their email address will receive electronic information from Penneo in the future. The Investor Portal can also be used for registration and proxy voting in relation to General Meetings, which Penneo encourages the Shareholders to make use of.
Video afspelen
Legal Documents
General Meetings
Management
Christian Stendevad
CEO (Chief Executive Officer)
CEO (Chief Executive Officer)
CEO since 18.08.2021
Profession: Chief Executive Officer at Penneo
Description: Christian Stendevad has solid experience within the digital identity and security space and in scaling SaaS businesses globally. Christian is an experienced leader who previously held a position as Chief Operating Officer in Omada. Christian has been with Omada for the past 17 years, where he successfully co-headed the international scaling and growth journey of Omada. Prior to Omada he held a position as Managing Consultant in PwC Consulting and IBM.
Educational background: Master in Engineering in Electronics, DTU
Christian Stendevad privately holds 630,000 warrants in Penneo A/S
Christian Stendevad privately owns 6,056 shares in Penneo A/S.
Jan Flora
CTO (Chief Technology Officer)
CTO (Chief Technology Officer)
CTO since 9.01.2014
Profession: CTO at Penneo
Description: Jan Flora is one of the co-founders of the company. Jan Flora has since the foundation of the Company been the spearhead of product development, innovation, and development of new markets. Jan has had experience with other tech companies before co-founding Penneo in 2014.
Educational background: Msc. In Computer Science, University of Copenhagen, Bsc. In Mathematics and Computer Science, University of Copenhagen
Jan Flora owns, through Flora IT ApS 2,182,239 shares in Penneo A/S.
Jan Flora privately holds 787,029 warrants in Penneo A/S.
Casper Nielsen Christiansen
CFO (Chief Financial Officer)
CFO since 1.12.2018
Profession: Chief Financial Officer at Penneo
Description: Casper Christiansen has since 2018 been the key driver behind the development of structured financial processes in Penneo for improved financial insights regarding e.g. ongoing forecasting, SaaS metrics, profitability etc. In addition, Casper continuously supports the organization regarding the financial aspects of decision making – thus ensuring that all key decisions in Penneo are fact-based and in accordance with the financial situation. With the onboarding of Casper, all management accounting functions have been reallocated back to Penneo, and the financial team today comprises five people. Before joining Penneo, Casper Christiansen was CFO in SpotOn Marketing, where he played a key role in the disposal of the company to the private equity fund, Adelis.
Educational background: Graduate Diploma in Business Administration (Financial and Management Accounting), Copenhagen Business School
Casper Nielsen Christiansen owns 25,000 shares in Penneo A/S.
Casper Nielsen Christiansen privately holds 99,973 warrants in Penneo A/S.
André Clement
CCO (Chief Commercial Officer)
CCO (Chief Commercial Officer)
CCO since 9.01.2014
Profession: Chief Commercial Officer at Penneo
Description: André Schack is one of the co-founders of Penneo and has been a key factor in driving the Company forward. In addition, he has been able to provide Penneo with valuable insights from the auditing industry. André is a gifted salesperson, and with unique relationship management skills, André has played an important role in the high growth rates related to the attraction of new customers. In addition, André Schack plays a leading role in the European expansion as a vital part of Penneo’s task force, which primarily focuses on attracting Big 4 firms across new European markets.
André Clement Schack owns, through André Clement Holding ApS, 1,440,779 shares in Penneo A/S.
André Clement privately holds 787,029 warrants in Penneo A/S.
Board of Directors
Christian Sagild
Chairman of the Board
Chairman of the Board
Chairman since 28.04.2021
Profession: Professional board member
Description: Christian Sagild is currently the Chairman of Nordic Solar Energy and Nordic Solar Global A/S, a member of the Audit Committee of Royal Unibrew A/S, and the Chairman of the Audit Committee of Ambu A/S. He was the CEO of Topdanmark A/S between 2009-2017.
His areas of expertise are capital markets, managing public companies, stakeholder and reputation management, and complex framework management.
Other key positions: Chairman of Nordic Solar Energy and Nordic Solar Global A/S, member of the Audit Committee of Royal Unibrew A/S, Chairman of the Audit Committee of Ambu A/S
Educational background: Actuary, cand. act. , University of Copenhagen
Independent of Company
Christian Sagild privately owns 200,000 shares in Penneo A/S.
Christian Sagild privately holds 406,377 warrants in Penneo A/S.
Rikke Stampe Skov
Board Member
Board Member since 5.03.2021
Profession: CEO at Impero A/S
Description: Rikke Stampe Skov is the CEO of Impero A/S, a position, which she has held since June 2018. Rikke drives the company’s vision of creating trust and transparency on a global scale.
Prior to joining Impero, Rikke Stampe Skov spent several years as a partner in PwC co-chairing the Risk Assurance Services service line, and later as a partner with Odgers Berndtson, where Rikke Stampe Skov focused on executive search and leadership development. Before this, Rikke co-founded the IT security consulting company, Protego, which was successfully exited to PwC in 2006. Rikke Stampe Skov’s long career also includes leadership positions with Maersk, ISS, and Siemens. She also serves as a board advisor with several organizations.
Other key positions: CEO at Impero, Chairman of the Board at Union Bulk, member of the Board of Representatives at Forenet Kredit, Board member at VL64
Educational background: Board Master Class (CBS), HD(O) (CBS), HA(jur.) (CBS)
Independent of Company
Rikke Stampe Skov privately owns 1,615 shares in Penneo A/S.
Morten Kenneth Elk
Board Member
Board Member
Board member since 14.09.2018
Profession: CEO at Simplesite
Description: Morten Elk is a serial entrepreneur, board member and business angel. He started his career in 1997 after leaving a postdoctoral position in Physics to co-found what became a leading Danish digital agency that was exited to Swedish Adcore in 1999. In 2003, Morten Elk co-founded SimpleSite, a global player in the DIY website building services, where he remains the CEO today. Alongside, Morten Elk has invested in several start-ups and is the initiator and driver behind the event series Nordic Growth Hackers where participants in the tech community in Copenhagen gather to share growth experiences and tactics.
Other key positions: Chairman of the Board at Tibalo ApS, CEO Kunai Ads ApS
Educational background: Ph.D. Physics, University of Copenhagen
Independent of Company
Morten Kenneth Elk privately owns 18,083 shares in Penneo A/S.
Morten Kenneth Elk privately holds 283,167 warrants in Penneo A/S.
Auditor
Contacts & Press
Contacts
Jesper Skaarup Vestergaard
Certified advisor – Partner, Corporate Finance
Certified advisor – Partner, Corporate Finance
Direct: (+45) 35 27 50 11
Mobile: (+45) 31 79 90 00
Press contact
Press images
Download Penneo-related images here.
Media kit
Download our logo here.
Equity story
Penneo is a Danish ARR-driven software-as-a-service (SaaS) company and a market leader in the audit and accounting software industry in the Nordics. Penneo is a scalable platform that provides automation features across multiple aspects of digital transactions and digitizes company workflows related to client onboarding (KYC), digital signing, and document management in a compliant, efficient, and easy way.
The early stage of digitization in Europe and the strong network effects provided by international Big10 audit customers are powerful enablers for Penneo to become the de facto standard for the audit and accounting industry in Europe. The strong network effects serve Penneo as branding and distribution channels to all the auditors’ clients locally and globally.
Penneo taps into the global trends of increased regulations, sustainability, and digitalization.
Video afspelen
Current share price
Dividend Policy
The Company’s dividend policy is described in the Future dividends section. Dividends not claimed by shareholders will be forfeited in favor of the Company, normal after three years, under the general rules of Danish law on statute of limitations.
Future Dividends
The Company’s ability to pay dividends will depend, among other things, on its financial condition, working capital requirements, and the availability of distributable profits and reserve and cash available, and other factors as the Board of Directors may deem relevant. The Company has no intention to pay dividends in the coming years. The Company is in a growth phase and intends to reinvest any profit in activities to continue the growth. Dividends are decided by the Annual General Meeting following a proposal from the Board of Directors.
Dividend Restrictions
The Company has signed a dividend limitation agreement meaning that the Company cannot propose a resolution to pay dividends without the consent from Vækstfonden.
Share capital
- The nominal share capital of the company is DKK 541,473.62. The share capital is not divided into share classes.
- The nominal share capital is divided into shares of DKK 0.02 or multiples thereof.
- The share capital has been paid up in full.
- The shares shall be registered by name in the company’s register of shareholders. The register of shareholders is kept by VP Securities A/S, CVR-no. 21 59 93 36.
- The shares are negotiable instruments. There are no restrictions on the negotiability of the shares.
Announcements
Our announcements are currently in English and Danish. Contact us for more information.
Announcements
See More
Penneo in the media
EuroInvestor – Børshus ser kæmpe kurspotentiale i lille dansk aktie
Børsen – Investeringsbank indleder dækning af ny dansk aktie: Kan stige op mod 76 pct.
Finans – Sådan vil vækstbørsens mønsterelev sætte sin signatur på fondsbørsen
Finans – Efter et år på First North vil Penneo opgraderes til hovedbørsen
IT Watch – Softwarehus vil på kundejagt efter kapitalindsprøjtning
Børsen – Penneo vil skrives ind på hovedbørsen og rejse 100 mio. kr.
Børsen – Her er aktierne, der tager fokus i dagens handel
Euroinvestor – Lille dansk aktie vil tiltrække større investorer
IT Watch – Softwarehus vil hente flere kunder i den finansielle sektor
Events
Presentation of the Annual report
February 23, 2022
Investor Forum Online
February 24, 2022
SaaS Day
April 6, 2022
Presentations
Financial calendar
Annual Report
February 21, 2022
Annual General Meeting
April 27, 2022
Quarterly Report
May 24, 2022
Half-Yearly Report
August 24, 2022
Quarterly Report
November 23, 2022
Investor Portal and General Meetings
As a Shareholder, you have the option to use Penneo’s Investor Portal. In the Investor Portal, Shareholders can check the amount of shares they hold in Penneo. Shareholders who fill in their email address will receive electronic information from Penneo in the future. The Investor Portal can also be used for registration and proxy voting in relation to General Meetings, which Penneo encourages the Shareholders to make use of.
Video afspelen
Legal Documents
General Meetings
Management
Christian Stendevad
CEO (Chief Executive Officer)
CEO (Chief Executive Officer)
CEO since 18.08.2021
Profession: Chief Executive Officer at Penneo
Description: Christian Stendevad has solid experience within the digital identity and security space and in scaling SaaS businesses globally. Christian is an experienced leader who previously held a position as Chief Operating Officer in Omada. Christian has been with Omada for the past 17 years, where he successfully co-headed the international scaling and growth journey of Omada. Prior to Omada he held a position as Managing Consultant in PwC Consulting and IBM.
Educational background: Master in Engineering in Electronics, DTU
Christian Stendevad privately holds 630,000 warrants in Penneo A/S
Christian Stendevad privately owns 6,056 shares in Penneo A/S.
Jan Flora
CTO (Chief Technology Officer)
CTO (Chief Technology Officer)
CTO since 9.01.2014
Profession: CTO at Penneo
Description: Jan Flora is one of the co-founders of the company. Jan Flora has since the foundation of the Company been the spearhead of product development, innovation, and development of new markets. Jan has had experience with other tech companies before co-founding Penneo in 2014.
Educational background: Msc. In Computer Science, University of Copenhagen, Bsc. In Mathematics and Computer Science, University of Copenhagen
Jan Flora owns, through Flora IT ApS 2,182,239 shares in Penneo A/S.
Jan Flora privately holds 787,029 warrants in Penneo A/S.
Casper Nielsen Christiansen
CFO (Chief Financial Officer)
CFO since 1.12.2018
Profession: Chief Financial Officer at Penneo
Description: Casper Christiansen has since 2018 been the key driver behind the development of structured financial processes in Penneo for improved financial insights regarding e.g. ongoing forecasting, SaaS metrics, profitability etc. In addition, Casper continuously supports the organization regarding the financial aspects of decision making – thus ensuring that all key decisions in Penneo are fact-based and in accordance with the financial situation. With the onboarding of Casper, all management accounting functions have been reallocated back to Penneo, and the financial team today comprises five people. Before joining Penneo, Casper Christiansen was CFO in SpotOn Marketing, where he played a key role in the disposal of the company to the private equity fund, Adelis.
Educational background: Graduate Diploma in Business Administration (Financial and Management Accounting), Copenhagen Business School
Casper Nielsen Christiansen owns 25,000 shares in Penneo A/S.
Casper Nielsen Christiansen privately holds 99,973 warrants in Penneo A/S.
André Clement
CCO (Chief Commercial Officer)
CCO (Chief Commercial Officer)
CCO since 9.01.2014
Profession: Chief Commercial Officer at Penneo
Description: André Schack is one of the co-founders of Penneo and has been a key factor in driving the Company forward. In addition, he has been able to provide Penneo with valuable insights from the auditing industry. André is a gifted salesperson, and with unique relationship management skills, André has played an important role in the high growth rates related to the attraction of new customers. In addition, André Schack plays a leading role in the European expansion as a vital part of Penneo’s task force, which primarily focuses on attracting Big 4 firms across new European markets.
André Clement Schack owns, through André Clement Holding ApS, 1,440,779 shares in Penneo A/S.
André Clement privately holds 787,029 warrants in Penneo A/S.
Board of Directors
Christian Sagild
Chairman of the Board
Chairman of the Board
Chairman since 28.04.2021
Profession: Professional board member
Description: Christian Sagild is currently the Chairman of Nordic Solar Energy and Nordic Solar Global A/S, a member of the Audit Committee of Royal Unibrew A/S, and the Chairman of the Audit Committee of Ambu A/S. He was the CEO of Topdanmark A/S between 2009-2017.
His areas of expertise are capital markets, managing public companies, stakeholder and reputation management, and complex framework management.
Other key positions: Chairman of Nordic Solar Energy and Nordic Solar Global A/S, member of the Audit Committee of Royal Unibrew A/S, Chairman of the Audit Committee of Ambu A/S
Educational background: Actuary, cand. act. , University of Copenhagen
Independent of Company
Christian Sagild privately owns 200,000 shares in Penneo A/S.
Christian Sagild privately holds 406,377 warrants in Penneo A/S.
Rikke Stampe Skov
Board Member
Board Member since 5.03.2021
Profession: CEO at Impero A/S
Description: Rikke Stampe Skov is the CEO of Impero A/S, a position, which she has held since June 2018. Rikke drives the company’s vision of creating trust and transparency on a global scale.
Prior to joining Impero, Rikke Stampe Skov spent several years as a partner in PwC co-chairing the Risk Assurance Services service line, and later as a partner with Odgers Berndtson, where Rikke Stampe Skov focused on executive search and leadership development. Before this, Rikke co-founded the IT security consulting company, Protego, which was successfully exited to PwC in 2006. Rikke Stampe Skov’s long career also includes leadership positions with Maersk, ISS, and Siemens. She also serves as a board advisor with several organizations.
Other key positions: CEO at Impero, Chairman of the Board at Union Bulk, member of the Board of Representatives at Forenet Kredit, Board member at VL64
Educational background: Board Master Class (CBS), HD(O) (CBS), HA(jur.) (CBS)
Independent of Company
Rikke Stampe Skov privately owns 1,615 shares in Penneo A/S.
Morten Kenneth Elk
Board Member
Board Member
Board member since 14.09.2018
Profession: CEO at Simplesite
Description: Morten Elk is a serial entrepreneur, board member and business angel. He started his career in 1997 after leaving a postdoctoral position in Physics to co-found what became a leading Danish digital agency that was exited to Swedish Adcore in 1999. In 2003, Morten Elk co-founded SimpleSite, a global player in the DIY website building services, where he remains the CEO today. Alongside, Morten Elk has invested in several start-ups and is the initiator and driver behind the event series Nordic Growth Hackers where participants in the tech community in Copenhagen gather to share growth experiences and tactics.
Other key positions: Chairman of the Board at Tibalo ApS, CEO Kunai Ads ApS
Educational background: Ph.D. Physics, University of Copenhagen
Independent of Company
Morten Kenneth Elk privately owns 18,083 shares in Penneo A/S.
Morten Kenneth Elk privately holds 283,167 warrants in Penneo A/S.
Auditor
Contacts
Jesper Skaarup Vestergaard
Certified advisor – Partner, Corporate Finance
Certified advisor – Partner, Corporate Finance
Direct: (+45) 35 27 50 11
Mobile: (+45) 31 79 90 00
Press contact
Press images
Download Penneo-related images here.
Media kit
Download our logo here.
