TECHSTEP HAS COMPLETED THE ACQUISITIONS OF CONNEQTED 365 AB AND WIZOR AS

Reference is made to the announcement on 20 June 2018 regarding Techstep ASA exercising its right to acquire the remaining 49% of the shares in Conneqted 365 AB (“Conneqted”), and the announcement on 26 June 2018 regarding the agreement to acquire 100% of the shares in Wizor AS (“Wizor”).

Techstep has today completed these acquisitions and assumed 100% ownership of Conneqted and Wizor.

In connection with the acquisitions, the board of directors of Techstep has resolved to issue 4,868,723 new Techstep shares (“Consideration Shares”) at par value of NOK 1 per share, of which 2,500,302 Consideration Shares to the sellers of Conneqted and 2,368,421 Consideration Shares to the sellers of Wizor.

The Consideration Shares are issued pursuant to the existing board authorization to increase the company’s share capital, adopted at the annual general meeting held on 26 April 2018. Following the resolution, Techstep’s new share capital will be NOK 159,056,840 shares, each with a par value of NOK 1. Registration of the new share capital with the Norwegian Register of Business Enterprises is expected to take place on or about 7 September 2018. Once the registration of the share capital increase is completed the Consideration Shares will be registered in the Norwegian Central Securities Depository and admitted to trading on the Oslo Stock Exchange. A separate announcement will be made when the registration of the share capital increase is completed.

For more information, please contact:

Jens Haviken, CEO of Techstep: +47 930 90 070
Marius Drefvelin, CFO of Techstep: +47 958 956 90