24.4.2026 18:02:46 CEST | Mdundo.com A/S | Inside information

Mdundo.com A/S (the “Company”) hereby announces that it has received a non-binding letter of intent from a third party regarding a potential investment in the Company.

Inside Information

Company announcement 09-2026

The proposal outlines a potential transaction involving a directed issue of new shares combined with a possible acquisition of shares from major shareholders, including JVD Holding ApS, which could result in the investor obtaining a significant ownership position (up to approximately 40%) in the Company and supporting the Company’s further strategic and financial development.

As part of the proposal, the investor has indicated a subscription price of DKK 2.50 per share in connection with a potential directed issue.

The Board of Directors notes that the proposal reflects continued external strategic interest in the Company and its long-term growth potential. The letter of intent is non-binding and subject to customary conditions, including due diligence, agreement on final terms, and relevant approvals. There can be no assurance that any transaction will be agreed or completed.

The Board of Directors, excluding Chairman Jesper Drescher due to a conflict of interest arising from his ownership of JVD Holding ApS, has decided not to pursue the proposal prior to completion of the ongoing rights issue, taking into account the preliminary and non-binding nature of the proposal, including uncertainties relating to completion of a transaction. Following completion of the rights issue, the Board of Directors will assess whether a potential transaction should be pursued and, if so, on what terms, including whether and how a broader partnership approach in connection with the potential investment can be realised and has the potential to create substantial long-term shareholder value.

More generally, the Board is positive towards attracting a strategic investor that can support the Company’s development and accelerate long-term shareholder value.

As previously announced, the Company is currently conducting a rights issue of up to DKK 10.2 million, which will be completed as planned.

The Board of Directors has assessed whether the receipt and disclosure of the non-binding letter of intent constitutes a material change that would trigger the right to withdraw subscriptions in the ongoing rights issue. The Board of Directors does not consider this to be the case, as the proposal is preliminary and non-binding in nature and does not represent a change to the terms or conditions of the rights issue or to the information forming the basis for investors’ assessment of the rights issue. Accordingly, the Board of Directors does not believe that the conditions for withdrawal of subscriptions are met.

The Company will make further announcements if and when relevant.

Contacts

• Martin Nielsen, CEO, +4593944055, +254708911840, [email protected]

About Mdundo.com A/S

Mdundo is a leading music service for Africa with millions of people streaming and downloading music from our app and website every month. We aim to provide Africa’s millions of internet users with easy access to music whilst contributing structure, legality, and income to the sector. More info: https://mdundo.com/

Mdundo.com A/S
Jagtvænget 2
2920 Charlottenlund
www.mdundo.com

Certified Adviser
HC Andersen Capital
Bredgade 23B, 2. sal,
1260 København K
+45 30 93 18 87
[email protected]
https://hcandersencapital.dk/

Attachments

• Download announcement as PDF.pdf