Conversion of Notes

Reference is made to the stock exchange announcement on 20 Februar 2018 regarding drawdown of tranche 1 as part of a convertible note facility (the "Convertible Note Facility") entered into between European High Growth Opportunities Securitization Fund (the "Investor") acting through its advisor Alpha Blue Ocean Advisors Ltd., and ourselves as issuer.

On 11 April 2018 (the "Conversion Date"), the Investor submitted to the Issuer a notification of conversion of convertible notes in the total amount of NOK 500,000 to 77,399 new shares (the “New Shares”) in Induct AS at a conversion price of NOK 6.46 per share. The conversion price constitutes 90% of the lowest VWAP during the 20 consecutive trading days immediately preceeding the Conversion Date, as set out in the Convertible Note Facility.

The New Shares will be listed on Merkur Market as soon as practically possible after registration of the share capital increase in the Norwegian Register of Business Enterprises, expected on or about 19 April 2018.

Following the conversion of notes to shares, the Investor holds 45 convertible notes amounting to NOK 4.5 million in Induct AS.

           

For further information, please contact:

Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35
amj@inductsoftware.com

           
      
About Induct

Based on eight years of collaboration with over 250 organizations globally, Induct offers a digital platform that enables efficient management of knowledge based projects and processes. In addition Induct enables the organisations to communicate, collaborate and share knowledge in a secure cloud-based network.

Subscriptions is the main source of income for Induct. Induct has customers in 9 countries

Induct is listed on the Merkur Market list on Oslo Stock Exchange with the ticker INDUCT-ME.

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