Raketech agreed to settle the remaining Casumba earnout for €8.2M vs approximately €20.3M payable, funded by a €5.5M Bank of Valletta loan and €2.7M cash. Post-settlement, borrowings are €8.5M, and about €12M remains to be received from prior asset divestments.

The company has signed a sanction letter with Bank of Valletta for financing of EUR 5.5 million, which will be used together with EUR 2.7 million of existing cash to pay the settlement. With the settlement agreement signed and the financing approved, the Company is now awaiting the completion of the bank’s loan disbursement process to finalise the settlement.

Following completion, the company’s only borrowings will be loans from Bank of Valletta of approximately EUR 8.5 million, to be repaid over three years. Against this, approximately EUR 12 million remains to be received from the divestments of the Casumba assets and the US assets. Provided these payments are received in full, they would be sufficient to cover the bank debt, without taking into account the cash generated by the Company’s operations.

Raketech acquired Casumba Media Ltd in August 2019. In May 2025, the company agreed with the sellers to extend the remaining earnout payment period from September 2026 to March 2028, subject to interest charges and with all payments to be made in cash.

The earnout liability was recognised at EUR 21.3 million in the company’s balance sheet as of 30 June 2026. Since then, the Company has paid EUR 1.3 million to the sellers, while interest has continued to accrue, resulting in approximately EUR 20.3 million payable at the date of the agreement. Upon payment of the settlement amount in full, all outstanding obligations to the sellers of Casumba are extinguished, and Raketech has no remaining earnout obligations.

In September 2025, Raketech sold the Casumba assets for a fixed consideration of EUR 12.0 million, payable in monthly instalments through December 2029 and bearing interest at 8%.

The deferred consideration had a carrying value of EUR 6.8 million as of 30 June 2026, with approximately EUR 11 million outstanding plus interest. It is separate from the earnout to the sellers, is not affected by the settlement, and continues to be recognised as an asset on the company’s balance sheet.

Raketech thereby keeps the future payments from the sale of the Casumba assets, while the obligation related to their acquisition is settled at a substantial discount. The deferred consideration has been pledged as security for the Bank of Valletta financing.

Magnus Alebo, member of the Board of Directors of Raketech, is a beneficial owner of one of the sellers and therefore has an interest in the agreement. In accordance with the company’s procedures for handling conflicts of interest, he did not participate in the Board’s deliberations or decision regarding the agreement, which was approved by the other members of the Board.