NewOldStamp Variation

Blackpearl Group | Level 1 60 Cuba Street
Wellington 6011 | New Zealand
hello@blackpearlgroup.com | +64 480 39390

NZX Market Announcement
24 August 2023
NewOldStamp Variation
Black Pearl Group (NZX:BPG) is pleased to announce that it has varied certain terms
relating to the November 2022 acquisition of its NewOldStamp division.
BPG acquired NewOldStamp from an entity majority-owned by Volodymyr Zastavnyy. At
the time of acquisition Volodymyr entered a services contract with BPG and became
BPG’s Chief Revenue Officer (in addition to managing the day-to-day operations of
NewOldStamp for BPG).
The variation will see Volodymyr continuing to manage the NewOldStamp division of
BPG but will step back from Group level involvement with Cherryl Pressley now in the
position of BPG Chief Revenue Officer. Accordingly, the deferred purchase price of
NewOldStamp will be reduced by approximately 2 million shares.
Nick Lissette, CEO of BPG, commented that “NewOldStamp provides a predictable and
dependable revenue stream for BPG. Vol and his team have engineered the service to
operate with a light touch and as such it made sense from a cost perspective for us and
for Vol, from an allocation of time perspective, to allow Vol to broaden his
entrepreneurial focus whilst running an established business he knows intricately.”
“Ultimately this deal reduces dilution for BPG shareholders, reduces our overheads and
allows BPG to focus its resources on Pearl Diver. It’s a fantastic outcome for all parties”.

For and on behalf of the Board,

Nick Lissette
Chief Executive Officer
For further information, please contact:
hello@blackpearlgroup.com | +64 480 39390