Press release
Date
3 December 2024
Anoto comments on the SFSA's report of suspected accounting fraud regarding the financial year 2020
On 29 November 2024, Anoto Group AB (the "Company” or "Anoto”) received information from the Swedish Financial Supervisory Authority (the "SFSA”) that the SFSA in April 2024 filed a report of suspected accounting fraud in respect of the financial year 2020 to the Swedish Economic Crime Authority.
The SFSA informed Anoto that the authority previously, in connection with its investigation against Anoto, made some observations that led it to suspect that accounting fraud had occurred in the Company during financial year 2020. All the information that the Company has received as of today is described in the prospectus prepared in connection with the rights issue (the "Prospectus”) published on 29 November 2024.
The suspicion of accounting fraud is directed towards previous members of the management and board of directors who are no longer involved with the Company. It can be mentioned that the matter involves the accounting of intra-group receivables and liabilities during financial year 2020 and between Anoto Group AB and its wholly-owned subsidiary Anoto AB, meaning that no assets have left the group.
Kevin Adeson, Chairman of the board
"At Anoto, we are committed to transparency and integrity in our operations. While the report from the SFSA pertains to actions taken by former board of directors and management, we want to assure our stakeholders that the current board of directors and management have dedicated significant work and made substantial investments to improve corporate governance within the Anoto group and its financial reporting. We are focused on moving forward and continuing to strengthen Anoto on every level. Our dedication to innovation and excellence remains unwavering, and we are excited about the future prospects of Anoto."
The prospectus
The Prospectus is available on Anoto's website, https://www.anoto.com/investors/financing-documents/, Bergs Securities AB's website, www.bergssecurities.se and the SFSA's website, www.fi.se.
This press release shall be considered advertisement in accordance with article 2(k) of the Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation"). This press release is not and should not be considered a prospectus under the Prospectus Regulation. The Prospectus has been scrutinized and approved by the Swedish Financial Supervisory Authority. Such approval shall not be regarded as an approval of the Company or as support for the securities offered and admitted to trading. The Prospectus contains a description of the risks and rewards associated with an investment in the Company and potential investors are recommended to read the Prospectus in its entirety before making an investment decision.
This press release was made public, through the agency of the persons below, at 16.10 CET on 3 December 2024.
For further information, please contact:
Kevin Adeson, Chairman of the board of Anoto Group AB (publ)
For more information about Anoto, please visit www.anoto.com or email [email protected]
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, SE-116 74 Stockholm
About Anoto Group
Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a lead-er in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and related software. These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also holds a stake in Knowledge AI, a leading AI based education solution company. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.
