INDUCT – CORRECTION OF ERROR RE NUMBER OF WARRANTS IN AGM MINUTES, START OF SUBSCRIPTION PERIOD
Reference is made to the stock exchange announcement from Induct AS ("Induct" or the "Company") dated 21 June 2019 regarding an underwritten rights issue with gross proceeds up to NOK 1.9 million, to be carried out through a share capital increase (the "Rights Issue"). Reference is further made to the decision of the Company's shareholders to resolve the Rights Issue as announced on 28 June 2019.
As a consequence of an inadvertency in the minutes of the shareholders' meeting, there was an error in the amount of independent subscription rights/ warrants in item 11 of the AGM minutes.
The correct amount is between 200,000 and 380,000 subscription rights/ warrants, which then corresponds to sub-section 8 of said item 11. A corrected version of the AGM minutes is published herewith.
The Rights Issue will be directed towards the shareholders of the Company as of 1 July 2019, as registered in VPS on 3 July 2019, (the "Eligible Shareholders"). The Eligible Shareholders shall receive non-transferable rights to subscribe for, and be allocated, the new shares in the Rights Issue.
Each Eligible Shareholder will receive 0.036 non-transferable subscription rights for each share registered as held by such Eligible Shareholder as per 3 July 2019. Allocated subscription rights will be rounded down to the nearest whole subscription right. Each right gives the right to subscribe for and be allocated one (1) new share. Oversubscription will be permitted, however subscription without subscription rights will not be allowed.
Subscription price: NOK 5 per new share.
The subscription period in the Rights Issue commences today at 09.00 CET and ends on 18 July 2019 at 16.30 CET.
A subscription form related to the Rights Issue will be distributed to the Eligible Shareholders and is also published attached to this announcement: Subscription document -Induct 28 June AGM
Eligible Shareholders who wish to participate in the Rights Issue must complete the subscription form and submit to the Company c/o Åge Muren, Nedre Vollgate 3, 0158 Oslo, Norway, as further specified on face of the subscription form.
For further information, please contact:
Alf Martin Johansen, Chief Executive Officer
+47 90 17 94 35
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.