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Techstep ASA: Techstep has acquired Famoc

Reference is made to Techstep ASA's ("Techstep" or the "Company") announcement on 10 May 2021 regarding its agreement to acquire 100 % of the shares in Famoc S.A. and affiliates (the "Acquisition").

Techstep is pleased to confirm that it has today completed the Acquisition and assumed 100% ownership of Famoc.   

The purchase price for Famoc will partly be settled by the issuance of new Techstep shares, and the board of directors of Techstep has thus resolved to issue 3,679,211 new shares (the "Consideration Shares") to the sellers of Famoc. The Consideration Shares will be issued pursuant to the existing authorization for the Company's board of directors to increase the share capital, as adopted at the general meeting held on 22 April 2021. Following the resolution, Techstep's new share capital is NOK 209,629,830 divided into 209,629,830 shares, each with a par value of NOK 1. The Company will register the new share capital with the Norwegian Register of Business Enterprises and issue a separate announcement when the registration of the share capital increase is completed. The Consideration Shares are subject to a lock up, of which 1/3 of the Consideration Shares will be released every 12 months as of the date hereof.

For further information, please contact:

Marius Drefvelin, CFO, Techstep ASA: +47 958 95 690

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

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