GomSpace continues to reduce the costs and intents to reduce the staff with
up
to 30 employees before the end of this month. The change will have full
effect
from the fourth quarter of 2019.

The cost reductions will be aimed at
reducing overhead costs in the
administration and overhead costs in
manufacturing.

The cost reductions also include replacements in the Executive
Team:

  · Lars Alminde, the leading founder of GomSpace, will return to the
Executive
Team as the Chief Commercial Officer.

  · Peter Worsøe, previously
Quality Manager in GomSpace, will join the
Executive Team as Chief
Manufacturing Officer.

Meanwhile, GomSpace is continuing to build up the
engineering capacity as we are
engaged with the European Space Agency on a
number of very important innovative
developments of the nanosatellite
capabilities in Denmark, Luxembourg and
Sweden.

The adjustments will not have
an impact on the direction of the company and the
ability to meet customer
demands.

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31
55 57
E-mail: nbu @ gomspace.com

About GomSpace Group AB
The company’s
business operations are mainly conducted through the wholly-owned
Danish
subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark.
GomSpace
is a space company with a mission to be engaged in the global market
for space
systems and services by introducing new products, i.e. components,
platforms
and systems based on innovation within professional nanosatellites.
The company
is listed on the Nasdaq First North Premier exchange under the
ticker GOMX.
FNCA Sweden AB, info@fnca.se, +46-8-528 00 399 is the Company’s
Certified
Adviser. For more information, please visit our website
on
www.gomspace.com.

Miscellaneous
This information was submitted for
publication, through the agency of the
contact person set out above, at 09:00
a.m. CET on June 18, 2019.