Note 24 Other significant events During Q4 2022, the Bank came to an agreement with Komplett Group to exit the cooperation related to POS financing. This is a reflection of the jointly developed POS product no longer meeting the expected returns as well as the progress made on the strategic repositioning of the Bank. Additionally, the Bank and Komplett Group has agreed to terminate the agreement related to the use of the Komplett brand. As such, the POS product will be closed down and the brand royalty agreement terminated effective as of 1 May 2023. Komplett Bank will launch under a new name in May 2023. Komplett Bank is pleased with the long-standing cooperation which has contributed to building its position in the Nordic market, and has appreciated the open dialogue between the parties as the conditions for the cooperation has changed over time. Note 25 Subsequent events In February 2023, the Bank launched a private placement of new shares in order to raise gross proceeds of up to NOK 100 million. The private placement was successfully placed, and the Board of Directors conditionally allocated subscriptions for 18,181,818 offer shares at a subscription price of NOK 5.50 raising approx. NOK 100 million in gross proceeds. The placement was completed at an extraordinary general meeting on 10 March 2023 approving the capital increase and share allocation, with a subsequent settlement. The Board is not aware of other events after the balance sheet datethat are of significant importance to the annual financial statements. Komplett Bank / Annual Report 2022 85
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