Induct - Completion of Private Placement of NOK 15 million

Reference is made to the stock exchange notice published by Induct AS (“Induct” or the "Company") on 2 February 2017 regarding a contemplated private placement (the "Private Placement").

The Board of Directors (the "Board") of the Company is pleased to announce that Induct has successfully completed the Private Placement of NOK 15 million with the support of new and existing investors, through the subscription of 698,142 new shares (the "New Shares") and 184,211 secondary shares (“the “Secondary Shares”) at a subscription price of NOK 17.0 per share (the "Subscription Price").

There was considerable interest in the Private Placement, and the placement was oversubscribed.

Notification of allocation will be submitted to investors being allocated shares in the Private Placement today. Payment for the allocated shares is expected to take place on or about 8 February 2017. The New Shares and the Secondary Shares will be delivered and be tradeable on Merkur Market upon settlement. The New Shares will be delivered subject to a share lending agreement with the Company’s main shareholder, NPP Capital (which is owned by the Company’s CEO, Alf Martin Johansen).
The New Shares to be issued under the Private Placement 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 15 February 2017.

Subsequent to the Private Placement, the Board has resolved to carry out a repair issue (the “Repair Issue”) to repair for the dilutive effect of the Private Placement. The Repair Issue will be directed towards shareholders as of 1 February 2017, as registered in the VPS 3 February 2017, who were not allocated New Shares in the Private Placement. The subscription period for the Repair Issue is expected to take place towards the end of February 2017.

SpareBank 1 Markets AS acted as Sole Manager and Bookrunner for the Private Placement.

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 the Oslo Stock Exchange with the ticker INDUCT-ME.

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