Induct - Private Placement II towards CEO
Reference is made to stock exchange announcement by Induct on 17 December 2019 regarding expected private placement.
Induct has completed a Private Placement of NOK 2 million through the subscription of 500,000 new shares at a subscription price of NOK 4.00 per share, through conversion of debt to shares. The shares were subscribed by NPP Capital AS, a company 100% owned by Alf Martin Johansen, who is Induct's CEO.
The new shares to be issued under the Private Placement 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 17 January 2020.
NPP Capital AS' total holding after the transaction: 2,291,838 shares and subscription rights to subscribe to 327,401 shares at a subscription price of NOK 5 per share in Induct AS.
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.