Earn-out payment for Sylog Sverige AB and Digitas AS
With reference to stock exchange notice June 29th, 2007 regarding the acquisition of Sylog Sverige AB, stock exchange notice June 15th, 2007 regarding the acquisition of Digitas AS, and Data Respons' Annual Report 2009 note 13 concerning earn-out payments for the above mentioned acquisition.
The Board of Data Respons ASA has in a meeting on April 22nd 2010 8.30 AM approved a private placement of 1,451,718 shares to the former owners of Sylog Sverige AB and Digitas AS as additional earn-out payment.
In accordance with the acquisition agreements, the earn-out is paid in shares and the placement price is based on volume weighted average share price for the last 10 trading days in March 2010, resulting in a share price of NOK 7.916366.
The number of shares outstanding will with this transaction increase from 46,833,076 shares to 48,284,794 shares.
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 2010 the company had a total of 459 employees.