Drawdown of Tranche 2 of Convertible Loan Facility

Reference is made to the stock exchange announcements on 10 January 2018 where European High Growth Opportunities Securization Fund (the “Investor”), through Alpha Blue Ocean Advisors Ltd. entered into a convertible note facility with warrants (the “Convertible Loan Facility") with Induct AS ('the Company'), whereby Investor could invest up to NOK 50 million in the Company over the next 3 years through 20 tranches of convertible notes with warrants.

Further to the adoption of the resolutions by the EGM on 15 February 2018, the Company has requested the utilization of the 2. tranche of NOK 2.5 million under the Convertible Loan Facility entered into with Investor, in accordance with the terms of the facility.

The agreed drawdown will be made as follows:

Tranche 2

Loan Amount: NOK 2.5 million, issued by way of 25 notes each with a value of NOK 100,000.

Conversion price for the notes will be 90% of the lowest closing VWAP of the shares during the twenty consecutive trading days immediately preceding the conversion date.

Number of warrants to be issued: 96,153

Warrant exercise price: NOK 13.00

The convertible notes do not carry any interest, and will be issued on 6 April 2018 and must be converted no later than 6 April 2019.

After drawdown of Tranche 2, Induct has a convertible loan of NOK 5 million, issued by way of 50 notes each with a value of NOK 100,000.

Total number of issued warrants after drawdown of Tranche 2: 196,153.

           

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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