Induct - Notice of updated agenda for extraordinary general meeting – proposal for private placement towards NPP Capital AS

Reference is made to the announcement from Induct AS (the "Company") on 29 November 2018 regarding a call for an extraordinary general meeting.

Following such announcement, NPP Capital AS ("NPP") , a company 100% owned by Induct's CEO Alf Martin Johansen, has asked the board of directors to propose a separate private placement to NPP. Pursuant to such private placement, NPP may subscribe for 65 532 shares in the Company (which is based on a shareholding of NPP of 956,522 shares) with a corresponding number of warrants attached. Such private placement will allow NPP to participate in the share issue for all shares owned by NPP, including the 306,748 shares which NPP has lent to European High Growth Opportunities Securitization Fund ("European"), but which European has sold, thereby enabling NPP to uphold its pro rata ownership in the Company. NPP has submitted redelivery requests to European for the lent shares, but based on current responses NPP does not expect European to comply with the requests.

If the general meeting approves the proposed private placement, NPP will not be able to participate in the proposed repair issue, and the number of shares to be issued thereunder will be correspondingly reduced.

The board will propose that the general meeting approves this, and an updated notice for the extraordinary general meeting will be published in due course.

           

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: