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Partnering for Progress: 10% Strategic Equity Sale

Updated: Sep 10, 2023

Hello everyone,

In the dynamic landscape of finance, change is the only constant. Today, I'm excited to share an important update with you about a recent decision that will shape the future of our company, Change Group AS.

As the CEO and the largest shareholder, I have decided to sell 296,046 shares out of my 3,812,594 shares in Change through my investment company, Kangro Pte Ltd. This was not a decision made lightly, but one rooted in my commitment to enable wealth creation for customers around the world through our multi-asset platform.

The shares have been acquired by Andromeda Capital Partners Suisse AG, a Swiss-based private equity firm founded by the highly regarded Estonian entrepreneur, Ingmar Mattus. Ingmar, with his vast experience and proven track record in the trading sector, brings invaluable expertise to our table. Ingmar Mattus is the Co-Founder of Tickmill and serves on the board of several regulated entities of Tickmill Group. Prior to launching Tickmill, he served as the CEO of foreign exchange broker Armada Markets and the Head of Brokerage of global investment firm Admiral Markets. Tickmill is arguably the most successful trading platform originating from Estonia.

As some of you may recall, in March, Andromeda Capital Partners Suisse AG invested €2 million in Change Group AS, demonstrating their faith in our mission and potential. Ingmar's words at the time of investment have stayed with us: "Change has a talented and efficient team focused on delivering strong performance, and we are excited to be part of their journey in becoming a truly global multi-asset trading platform."

After this recent transaction, Andromeda Capital Partners Suisse AG's effective fully-diluted shareholding reaches just below 10% of our company's shareholding. Importantly, I maintain significant and the largest shareholding in Change, signifying my ongoing commitment to and belief in our company.

This decision, while marking a change, opens up exciting opportunities for us. We are thrilled to have Ingmar and Andromeda Capital Partners Suisse AG further involved in our journey as we strive to empower more individuals globally to invest in their financial future. As we turn the page to this new chapter at Change, we do so with renewed energy, a strengthened team, and unwavering commitment to our users.

Thank you all for your continued support and for being a part of our journey. Here's to the next exciting chapter together.

Until next time,

Kristjan Kangro

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