Techstep ASA - Issuance of shares in connection with Employee Share Purchase Program
Reference is made to Techstep ASA’s ("Techstep" or the "Company") annual general meeting on 23 May 2023, whereby the Company’s board of directors were granted an authorisation to increase the Company’s share capital by issuing new shares in connection with the Company’s incentive schemes.
Techstep has now completed the employee share purchase program ("ESPP") for the year, where participants were offered to subscribe for Techstep shares with a discount of 20 percent.
Techstep received subscriptions for a total of 63,146 shares, at a share price of NOK 6.492 per shares. The share price represents a 20 percent discount to the volume-weighted average market price of the Company’s share during the application period from 13 to 17 November 2023. The shares are subject to a lock-up period of two years.
Based on the above, the Board has resolved to increase the Company’s share capital by NOK 63,146 by the issuance of 63,146 new shares, each with a nominal value of NOK 1.00. The new shares are issued at a subscription price of NOK 6.492 per share. Following the registration of the share capital increase with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret), Techstep's new share capital will be NOK 31,629,381, divided by 31,629,381 shares, each with a nominal value of NOK 1.00.
For further information, please contact:
Ellen Solum, CFO of Techstep: +47 976 66 717
About Techstep ASA
Techstep is a complete mobile technology enabler, making positive changes to the world of work; freeing people to work more effectively, securely and sustainably. We help customers who want to work smarter, while also delivering on their ESG commitments. With around 270 employees based in Norway, Sweden, Denmark and Poland, we serve more than 2 000 enterprise customers in Europe. Techstep had NOK 1.3 billion in full year 2022 revenues, and is listed on the Oslo Stock Exchange under the ticker TECH. To learn more, please visit www.techstep.io/investor.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.