MeeW A/S (“MeeW” or the “Company”) today publishes that Armin Kavousi will step down as CEO and be replaced by co-founder Peter Funch. Armin Kavousi will also leave the BoD and reduce his ownership share. The subscription period will be extended by five days.
Today, on 7 March 2023, the Board of Directors of MeeW A/S (the “Board” or “BoD”) has learned that CEO Armin Kavousi has claimed to have a master’s degree in neuroscience, which has turned out not to be correct.
Consequently, the BoD has at a board meeting today agreed with Armin Kavousi that he steps down as CEO and that he will leave the BoD with immediate effect. He will also reduce his ownership share of the Company to less than 10%. The BoD has appointed Peter Funch as new acting CEO.
Peter Funch is a co-founder of MeeW and shareowner at the company with an ownership share pre-IPO at 24,77%. Peter is today a part of the MeeW management team and has long-term experience from working with IT-Companies and top-management. Peter’s experience also includes founding and developing own company. Peter will be investing in MeeW during the IPO as the largest pre-subscriber.
Chairman of the Board, Sam Jalaei says: “The new board did not know about Armin Kavousi’s lack of a master’s degree until today and has had no reason to suspect any misdoing. MeeW is about to be listed on the Spotlight Stock Market and therefore it is crucial for us that the market has full confidence in the company. Armin Kavousi has apologized to the Board for his actions, and he does not want his actions to harm the company. We therefore agree that it is best for the company that he resigns as CEO and member of the board with immediate effect and sells a substantial part of his shares.”
Peter Funch says: “MeeW is a fast-growing company with a huge growth potential. We have a strong customer portfolio and a solid pipeline for 2023. As a co-founder I know the company very well and I am confident that we will be able to unfold the company’s strong growth potential and create long-term value for our shareholders.“
Together with its financial advisers, the Board has decided to extend the IPO subscription period by five days out of respect for the investors. The memorandum will be updated accordingly because of these changes.
The BoD does not believe that it is relevant for the CEO at MeeW to hold a specific title within neuroscience.
This disclosure contains information that Meew is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20:42, 7 March 2023.
For more information about MeeW, please contact:
CEO Peter Funch
Phone: +45 31 69 34 59
Advisors and issuing agent
SeaHouse Capital ApS is the financial advisor in connection with the IPO. Magnusson Denmark Advokatpartnerselskab is the legal advisor and Nordic Issuing AB is the issuing agent. Shark Communication AB has assisted the Company with advice regarding communication.
MeeW is a group of independent subsidiaries and brands with a common focus on being a tech venture builder within technology, digitalization, and automation. The main area of business within the Group is SaaS development, IT consultancy, and IT investments. With a mission to build own market leading brands, investing in promising tech companies and develop groundbreaking services, MeeW aims to build a digital bridge between the technology of today and future generations.