SmartCraft ASA (SMCRT) - Notice of Extraordinary General Meeting (corrected)

SmartCraft ASA published a corrected notice for an extraordinary general meeting to be held digitally on 12 January 2026 to vote on a proposed cross‑border merger and relisting to Nasdaq Stockholm, with the correction relating to the holdings of Anabranch Capital Management. Shareholders representing 60.0% of votes have signalled support for the board’s proposal — notably Valedo Partners, B. Ulstein AS and Langdon Equity Partners have provided voting undertakings covering 50.8% of shares and votes, and Anabranch (9.2%) has also expressed support — making approval materially more likely though the EGM vote remains required. As a leading Nordic provider of mission‑critical SaaS to construction SMEs (over 14,100 customers and 270 employees), a successful relisting would shift SmartCraft’s listing to Sweden with potential implications for its investor base and liquidity; meeting materials are available on the company’s investor site.

Analysis

SmartCraft ASA issued a corrected notice on 12 December 2025 and has scheduled an extraordinary general meeting (EGM) for 12 January 2026 to vote on a proposed cross-border merger and relisting to Nasdaq Stockholm; the correction pertains to the holdings of Anabranch Capital Management. Shareholders representing 60.0% of votes have signalled support for the board proposal, with Valedo Partners, B. Ulstein AS and Langdon Equity Partners providing voting undertakings for 50.8% of shares and votes and Anabranch stating support for 9.2% of shares and votes.

The combination of voting undertakings and Anabranch’s public support materially increases the likelihood of approval but does not substitute for the formal EGM vote or any required regulatory consents. SmartCraft profiles as the leading Nordic provider of mission-critical SaaS to construction SMEs with more than 14,100 customers and 270 employees and has been listed on Oslo since June 2021, so a Stockholm relisting would likely shift its investor base and could affect liquidity and trading patterns.

Market signals are mildly positive (sentiment score 0.28, market impact score 0.3), reflecting optimism about deal approval but limited immediate market-moving impact. Key near-term risks are the outstanding EGM vote, any further disclosure corrections or changes in voting undertakings, and subsequent regulatory approvals and transaction terms that could change the economics or timing.

Key Decisions for Investors

• Monitor the EGM outcome on 12 January 2026 and seek confirmation of the final vote tally and any changes to voting undertakings before adjusting positions
• If the merger and relisting are approved, consider increasing exposure modestly to capture potential liquidity and Swedish investor interest, but size positions conservatively until post-listing trading patterns are observable
• If disclosure corrections or unexpected withdrawals of support occur, be prepared to reduce exposure or hedge as such developments increase governance and execution risk
• Track subsequent regulatory approvals and the published transaction terms closely; avoid material portfolio moves until those terms and any implementation timeline are clear