Anoto: Correction regarding our May 20 update

Redeye wants to make a correction regarding our research update published on May 20. We have received feedback from Anoto regarding our statement on customers switching to the competitor Neolab. The part at issue in the update is the following section: ”There is only so much time customers can wait for commercial quantities. We have talked to two former customers who say they got tired of the problems and the waiting for the AP-701 and switched to Neolab (whereof one of them one year ago).

N.B. This is anecdotal evidence from ex-customers with a negative bias." From Anoto’s feedback we understand that the basis for our statement (the information from the ex-customers) is incorrect, which results in a misleading text about the customers view of the new pen. Anoto states that to the best of the company’s knowledge it does not know of any forms customer who switched to Neolab due to being “tired of waiting for new pens”.

Customers have switched for other reasons, e.g. because Anoto terminated their contracts when they did not sign the new pricing model. This clarification does not affect our view of the company and we will therefore not make any changes in our valuation etc..