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New listing of YETIFORCE S.A. on NewConnect

The company YETIFORCE S.A. was newly listed on NewConnect on 21 April 2023.

YETIFORCE S.A. is the 360^th company listed on NewConnect and the fourth new listing on NewConnect in 2023.

Key information

* based on the reference price proposed by AA and MM for series A and B shares equal to PLN 0.70

Issuer’s history and business

The Issuer was established as a result of the transformation of a company under the name YetiForce spółka z ograniczoną odpowiedzialnością with its registered office in Warsaw. The company under the name YetiForce spółka z ograniczoną odpowiedzialnością became a transformed company, i.e. the Issuer, upon the entry of the Issuer into the Register of Entrepreneurs of the National Court Register. The registration of the Issuer in the National Court Register took place on 23 December 2021. The founders of the company were Błażej Pabiszczak, Sui Generis Investments Limited, Centiram Limited, and Latnodo Limited.

The Company’s main shareholder Alenlar Ltd. acquired 46,727,636 shares in the share capital of the Issuer. The shares were acquired by the shareholder on 16 February 2022 as a result of two transactions: (i) the sale by the company Centiram Ltd. with its registered office in Nicosia to Alenlar Ltd. of 36,727,636 shares in the Issuer’s share capital, and (ii) the sale by the company Latnodo Ltd. with its registered office in Nicosia to Alenlar Ltd. of 10,000,000 shares in the Issuer’s share capital.

The Issuer is a provider of open source software for business on the Polish and international markets. The Issuer specialises in the implementation of the most flexible CRM systems tailored to the needs of a specific company. CRM (Customer Relationship Management) is a software that uses integrated data analysis to change the quality of business relations, manage relations with customers and contractors, organise work on ongoing projects, and allow tracking work progress from any place in the world and any device with Internet access.

The Issuer’s core business is to provide services in the implementation and maintenance of the YetiForce System software and, on the other hand, to create its own IT products, which are offered for a fee in the subscription sales model through the YetiForce MarketPlace.

Issuer’s selected financials (PLN)

Public offering of series B shares

Subscription dates:

Start date: 28 January 2022

End date: 2 February 2022

Number of shares in the subscription: 2,000,000 shares

Number of allotted shares: 2,000,000 shares

Issue price: PLN 1.00

Number of persons who subscribed and took up shares: one legal entity (Cossfort Ltd with its seat in Nicosia, Cyprus, whose beneficial owner is Mr Jerzy Kotkowski, who has been working with the Issuer since 2017).

Issue value: PLN 2,000,000

As a result of the issue of series B shares of the Issuer, the Issuer raised a total of PLN 2,000,000. The funds raised in the issue of series B shares were used for the implementation of the development strategy adopted by the Issuer, including in particular the expansion of the Issuer’s Marketplace through the development and addition of new modules and functionalities to the YetiForce System. In addition, the Issuer used the funds raised in the issue of series B shares for cloud solutions, work on the redevelopment of the Issuer’s website, as well as payment of the Issuer’s liabilities in respect of taxes, customs duties, social and health insurance and other public levies.

Issuer’s shareholders: