Fingerprint Cards appoints 2 board members, plans reverse stock split

Fingerprint Cards is making changes to it leadership and consolidating shares as it continues a transition from specializing in biometric sensors to comprehensive solutions.

Two new members have been appointed to FPC’s Board of Directors. John Lord joins the Board with more than 25 years of experience in the financial and technology sectors, including as a C-level executive with GE Finance and Dun & Bradstreet UK and Ireland. He has served as group managing director at GBG, and he founded TruNarrative and led it as CEO until 2021. Carl Johan Grandinson has a background in engineering and marketing, and is a co-founder of award-winning media agency Tre Kronor Media and smart home and delivery company Glue Home.

Lord’s expertise in go-to-market initiatives and Grandinson’s in governance and capital planning are expected to support FPC’s transformation as it “expands its solutions up the value chain” and with more embedded biometrics and access control technologies, according to the company announcement. FPC Chair Christian Lagerling referred to the period as one of “new strategic direction” for the company.

The launch of comprehensive out-of-the-box converged biometric access control solution FPC AllKey last August appears to be an example of the kind of product that takes Fingerprint Cards in that new direction.

Fingerprint Cards CSO and CTO David Eastaugh, appointed just weeks before the launch of FPC AllKey, held prominent roles at GBG and TruNarrative under Lord.

Reversing as part of course change

Sometimes the quickest way to reorient your direction is to put the vehicle in reverse.

FPC is also planning a reverse stock split, at a 2,000 to 1 ratio. The reverse split would render the company’s nearly 15.2 billion shares to just under 7.6 million shares.

During that process, up to 520,000 Class B treasury shares will be transferred, in deviation of the shareholders’ preferential rights, to make the math work for other shareholders’ holdings that are not evenly divisible by 2,000.

Shares in Fingerprint Cards fell from 0.08 Swedish kroner to SEK0.01 in trading on the Stockholm Nasdaq between December 17, 2024 and February 6, 2025, and have not traded above SEK0.02 since.

Article Topics

biometrics  |  Board of Directors  |  Fingerprint Cards  |  stocks