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Joachim Harding Spangsberg was a PaperflowApS board member in the signed2020 annual report adoptedMay27,2021. Damgaard’s own2022 acquisition announcement refers to co-investor JoachimSpangsberg; WernerValeur’s own historical portfolio names JoachimSpangsberg andBBJInvestApS. The full name is established by the legal issuer report, while exact vehicle-to-investment allocation and cash check remain unverified. This historical board affiliation does not establish a currentPaperflow executive role.