Share capital increase
With reference to the stock exchange notice yesterday March 1, 2017 regarding the agreement where Data Respons ASA will acquire the remaining 50 % of the shares in TechPeople A/S in Denmark. It has been agreed an up front consideration at closing of the agreement where the seller receives 434 000 newly issued shares in Data Respons ASA through a private placement.
The Board of Data Respons ASA has in a meeting today March 2, 2017 approved a private placement of 434 000 shares in Data Respons ASA to the seller of the shares in TechPeople A/S. In addition, the seller will receive annual earnout payments depending on the company's actual EBIT for 2017, 2018 and 2019. The annual earnout payments will be due for payment in Q2 the year following the respective earnout year.
The transaction is expected to close within the next 2 weeks.
For further information:
Kenneth Ragnvaldsen, CEO, Data Respons ASA, tel. +47 913 90 918.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950 36 046
About Data Respons
Data Respons is a full-service, independent technology company and a leading player in the IoT, Industrial digitalisation and the embedded solutions market. We provide R&D services and embedded solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as Medical, Industry Automation, Smart grid/Smart home, Bank and Insurance, Automotive, Defence, Maritime, Energy and Telecommunications.
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 Norway, Sweden, Denmark, Germany and Taiwan. www.datarespons.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.