Induct AS – Contemplated Private Placement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES.
OSLO, NORWAY – 4 July, 2016 – Induct AS (the "Company") contemplates a private placement through the issuance of new shares for a total consideration of NOK 5 - 10 million (the "Private Placement") and has engaged SpareBank 1 Markets AS (the "Manager") to advise on and effect the Private Placement.
The subscription price in the Private Placement will be determined through a bookbuilding process. The bookbuilding period for the Private Placement opens today at 16:30 CET and is expected to close 5 July 2016 at 08:00 CET. The Company may, however, at any time resolve to close or extend the bookbuilding period at its sole discretion and on short notice. Subject to the completion of the Private Placement, the Company will announce the final number of shares placed and the final subscription price in the Private Placement in an announcement expected to be published before the opening of trading on Merkur Market on or about 5 July 2016.
For further information, please contact:
SpareBank 1 Markets AS
Tel.: (+47) 24 14 74 42
Cell phone: (+47) 91 65 11 55
Alf Martin Johansen, Chief Executive Officer
47 90 17 94 35
Based on eight years of collaboration with over 250 organizations, Induct offers innovation communities, delivered as "Software as a Service," that enable organizations to 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. Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.
Induct: “Connecting Innovation Communities™”