Linkfire, a smartlink platform based in Copenhagen, has made significant changes as it prepares to delist from the Nasdaq First North Premier Growth Market in January. The company is returning to private ownership, with existing investors retaining their stake and a new shareholder agreement. Co-founder and CEO Lars Ettrup is stepping down as CEO, to take on a strategic advisory role, while Tobias Demuth, the CFO, will also be stepping down. The new CEO effective 1 Jan 2024 is Jeppe Faurfelt, the company’s co-founder and current Chief Commercial Officer.
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The decision to delist came after an Extraordinary General Meeting of shareholders held on 21 Dec 2023. This move makes sense as the company faced challenges with the share price and liquidity on the market. The company’s recent performance and growth in the industry, combined with strong industry partnerships, suggest that its true value could be considerably higher. By returning to private ownership, the company is well-positioned to consolidate its place in the market and continue to grow towards profitability.