Existing and new owners increase ownership in Truecaller in connection with the sale of all remaining employee shares

STOCKHOLM, March 8, 2022 /PRNewswire/ -- Truecaller, the leading global platform for verifying contacts and blocking unwanted communications, hereby announces that the incentive companies True Software EC AB, True Software EC II AB, True Software EC III AB and True Software EC IV AB (the "incentive companies" or "EC companies"), which is owned by Truecaller's existing and former employees, has sold its remaining holdings in Truecaller to existing long-term owners as well as one new leading Swedish institutional investor, a total of approximately 6.4 million Class B shares. Following the sale, the incentive companies no longer own shares in Truecaller and will be liquidated.

The incentive companies (EC companies) form a part of a previous incentive program in Truecaller and these companies are now selling their holdings in Truecaller in order to fulfill their obligations to their shareholders, in accordance with what was communicated in connection with the IPO in October 2021. The shares that were not sold at the IPO, as a result of the over-allotment option not being fully exercised, came to be covered by a three-month lock-up commitment. The present placement of the shares has taken place according to plan, where the shares have been placed in larger blocks to several institutional investors. Following the sale, the incentive companies no longer own any shares in Truecaller and will be liquidated. The profit after the sale will be distributed to the shareholders in the incentive companies, mainly current and former employees.

Prior to the IPO, Truecaller introduced a new long-term incentive program based on warrants and employee stock options, as a replacement for the program based on the incentive companies that ceased as an effect of the IPO. This program runs until 2023-2025 with the aim that the company's employees should continue to have attractive remuneration that is in line with the shareholders' interests. Around 90 percent of the company's employees participated in the new incentive program launched in August 2021.

For more information, please contact:

Annika Billberg, Head of IR & Communication
+46 702 679791
[email protected]

About Truecaller

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for over 300 million active users, with half a billion downloads since launch and close to 38 billion unwanted calls identified and blocked in 2021. Headquartered in Stockholm, since 2009, we are a co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since 8 October 2021. For more information, please visit corporate.truecaller.com.

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SOURCE Truecaller AB