Earn-out payment for Sylog Sverige AB
With reference to stock exchange notice June 29th, 2007 regarding the acquisition of Sylog Sverige AB, and Data Respons' Annual Report 2007 note 12 concerning earn-out payments for the above mentioned acquisition.
The Board of Data Respons ASA has in a meeting on October 24th approved a private placement of 1,488,671 shares to the former owners of Sylog Sverige AB as additional earn-out payment.
In accordance with the acquisition agreement signed 28.06.2007, the earn-out is paid in shares and the placement price is based on average share price for the last 10 trading days in September 2008, resulting in a share price of NOK 11.8543417. The number of shares outstanding will, including this transaction, increase from 40,873,060 shares to 42,361,731 shares.
In accordance with the Norwegian Securities Trading Act (Verdipapirhandelloven) a prospectus will be published on the company's web page http://www.datarespons.no upon approval from Oslo Stock Exchange (Oslo Børs).
In connection with the transaction Data Respons ASA will transfer 288,000 of its own shares to the former owners of Sylog Sverige AB as a part of the total consideration. Following this transaction the Data Respons group of companies holding of own shares will be 0.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, phone: +47 67 11 20 00 Mob: +47 913 90 918.
ABOUT DATA RESPONS
Data Respons` vision is to become leading in Europe within 2010 on Embedded Solutions in the industrial market. Embedded Solutions can be described as being the brains of a machine, system or industrial end product. Data Respons supplies Embedded Solutions to leading OEM companies, system integrators and vertical product suppliers in a range of market segments such as defence, offshore, automation, medical equipment, surveillance, transport, telecommunications and other industries. Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Denmark, Finland, Norway, Sweden and Germany. At the close of the 1st quarter 2008 the company had a total of 508 employees.
More information on Data Respons ASA can be found on our website: http://www.datarespons.no