Conversion of Notes

Reference is made to the stock exchange announcement on 20 Februar 2018 regarding a convertible note facility (the "Convertible Note Facility") entered into between European High Growth Opportunities Securitization Fund (the "Investor") acting through its advisor Alpha Blue Ocean Advisors Ltd., and ourselves as issuer. The Investor has submitted to the Issuer a notification of conversion of convertible notes relating to the commitment fee of NOK 1.0 million to 312,500 new shares (the "New Shares") in Induct AS at a conversion price of NOK 3.20 per share. The conversion price constitutes 90% of the lowest VWAP during the 20 consecutive trading days immediately preceeding the Conversion Date, as set out in the Convertible Note Facility.

The New Shares 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 24 September 2018.

Following the conversion of notes to shares, the Investor holds 57 convertible notes in Induct AS, each with a par value of NOK 100,000, amounting to NOK 5.7 million in total.

Total number of issued warrants after the conversion of the Commitment Fee: 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 ten 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.

Induct is listed on the Merkur Market list on the Oslo Stock Exchange with the ticker INDUCT-ME.

Tags: