Induct - Primary Insider Information

NPP Capital AS lawsuit against European High Growth Opportunities Securitization Fund

Reference is made to announcement by Induct on 13 December 2018 regarding NPP Capital AS ("NPP"), a company owned 100% by Alf Martin Johansen, CEO of Induct, lending of 306,748 shares in Induct to European High Growth Opportunities Securitization Fund ("European"). These shares were considered lost by NPP due to European not accepting redelivery of the shares according to share lending agreement.  

NPP thereafter purchased 306,748 shares in the market to regain the lent shares, see announcement by Induct on 17 December 2018.  

European has refused to compensate NPP for their direct losses for regaining the shares. Therefore, NPP today has filed a lawsuit against European claiming compensation of NOK 1,733,330 used for regaining the lent shares.

           

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.

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