Induct - Drawdown of Tranche 3 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 3. 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 of tranche 3 will be made as follows:

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: 178,571

Warrant exercise price: NOK 7.00

The convertible notes do not carry any interest, and will be issued on 1 August 2018 and must be converted no later than 1 August 2019.

After drawdown of Tranche 3, Induct has a convertible loan of NOK 5.7 million, issued by way of 57 notes each with a value of NOK 100,000.

Total number of issued warrants after drawdown of Tranche 3: 374,724.

           

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 more than 250 organizations, Induct offers collaborative communities, delivered as "Software as a Service," that enable organizations to digitalize and manage business processes. This also include create, manage, track and measure the innovation process from idea creation through to final implementation and impact reporting. Induct enables its customers to connect with each other in larger networks to share best practices, while deploying and monetizing initiatives - all within a secure, collaborative, and access-controlled 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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