Webstep ASA: Sale of shares to employees – Result of the Offer

Oslo, 4 December 2020. Reference is made to the stock exchange announcement by Webstep ASA ("Webstep") on 23 November 2020 regarding the offer of shares to employees (the "Offer") and the stock exchange announcement on 24 November 2020 regarding applications received from primary insiders in the Offer.

The application period for the Offer commenced on 23 November 2020 at 09:00 hours (CET) and expired today, on 4 December 2020, at 16:30 hours (CET) (the "Application Period").

The purchase price for the shares in the Offer has, prior to the offered discount of 20%, been set to NOK 22.83 per share, which equals the volume weighted average market price for the shares in Webstep in the Application Period. The purchasers will receive a 20% discount on the purchase price for the shares acquired by them in the Offer.  

Based on the applications received during the Application Period, Webstep has allocated a total of 234,074 shares to the employees participating in the Offer. Following this sale, Webstep owns 59,559 own shares.

The following primary insiders have purchased a total of 4,376 shares in the Offer:

- Liv Annike Kverneland (CFO and interim CEO), 1,094 shares. Liv Annike Kverneland's new aggregate holding of shares with her close associates is 35,983 shares and 98,884 share options;

- Arnt Roger Aasen (Director Communication), 1,094 shares. Arnt Roger Aasen's new aggregate holding of shares with his close associates is 16,262 shares and 49,461 share options;

- Cathrine Fredhøi (Observer to the Board), 1,094 shares. Cathrine Fredhøi’s new aggregate holding of shares with her close associates is 1,685 shares;

and

- Anders Bjørnestad (Observer to the Board), 1,094 shares. Anders Bjørnestad’s new aggregate holding of shares with her close associates is 4,795 shares.

The shares will be transferred from Webstep to the purchasers as soon as practically possible.

Contact details for further information:

Liv Annike Kverneland, CFO and interim CEO

Cell: +47 911 51 110

Email : ir@webstep.com

Website : www.webstep.com

Webstep ASA is a provider of consultancy services to the private and public sector, with the IT expertise necessary to deliver the most demanding digitalisation and IT services.The Webstep Group employs approximately 400 employees in Norway and Sweden. The company offers its services to more than 200 customers annually and has been recognised for its work environment.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.