Webstep ASA – Registration of share capital increase
Oslo, 17 November 2017: Reference is made to the stock exchange announcement published on 13 November 2017 by Webstep ASA ("Webstep", the "Company", OSE ticker code: WSTEP) regarding its board of director's resolution to increase the share capital in connection with Arctic Securities AS' (the "Stabilisation Manager") exercise of the greenshoe option granted to it in connection with the Company's initial public offering.
The Company has today issued 718,626 new shares, each with a nominal value of NOK 1.00, at an offer price of NOK 24.50 per share. The shares are issued to the the Stabilisation Manager who will redeliver the shares to Reiten & Co Capital Partners VII LP, represented by its general partner Reiten & Co Capital Partners VII GP Ltd ("RCP") as announced by RCP in a stock exchange announcement published on 10 November 2017.
The new shares have been legally and validly issued and have been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following the issuance of the new shares, the share capital of Webstep is NOK 26,967,017 consisting of 26,967,017 shares, each with a nominal value of NOK 1.00.
Kjetil Eriksen, CEO Webstep, +47 982 98 008
Anders Løken, CFO Webstep, +47 977 69 200
About Webstep ASA
Webstep ASA and its subsidiaries form the Webstep Group, a high-end provider of IT consultancy services in Norway and Sweden. Since its incorporation in 2000, the Webstep Group has offered IT services designed to address its customers' software needs by creating functional custom-made digital tools and applications optimising the customers' business strategies. Webstep aims to be at the forefront of the technological development and to assist its customers in their digitalisation through the offering of cutting-edge IT expertise. The Webstep Group's core digitalisation offering consists of digitisation, cloud implementation, migration and integration, in addition to its other core focus areas Internet of Things (IoT), machine learning and analytics. An important part of the Webstep Group's strategy is to employ and offer only senior IT consultants with significant experience. As of 30 June 2017, the Webstep Group employed 393 employees, of which 350 were IT consultants. For more information visit www.webstep.com (http://www.webstep.no).
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.