Techstep ASA — AGM Information 2016

Nov 4, 2016

Techstep ASA has today on Nov 4, 2016, held its Extraordinary General Meeting.

Techstep ASA has today on Nov 4, 2016, held its Extraordinary General Meeting.

All proposals to the Extraordinary General Meeting were approved

and 86.57 percent of the issued shares were represented.

Approvals in summary*:

- Acquisition of 53.94 % of the shares in Teki Solutions

AS and shareholder's loans against issuance of 30,053,488 new

consideration shares at a price of NOK 4.30 per share.

- In connection with the ongoing acquisition of Teki

Solutions AS, the meeting approved the nomination committee´s

proposal and after the Extraordinary General Meeting the

appointed Directors are:

o Einar J. Greve Chairman

o Svein Ove Brekke Board member

o Kristian Lundqvist Board member

o Stein Erik Moe Board member

o Ingrid Leisner Board member

o Kristin Hellebust Board member

o Camilla Magnus Board member

- Approval of amendment of Articles of Association to

better reflect the new business operations.

- Approval of Power of Attorney´s for Board of Directors

to increase the share capital until the General Meeting 2017.

o To purchase the Company's own shares with up to 10% of

outstanding shares.

o To execute share capital increases with one or more

strategic partners, or complete a merger or acquisition using

shares or cash, or issue shares to the employees or to

strengthen the Company's equity with up to 25% of outstanding

shares.

o To acquire additional shares in Teki Solutions AS, by

wither using consideration shares or cash or a combination of

the two as consideration with up to 7.3% of the outstanding

shares.

o To establish an incentive scheme for its employees and

the members of the Board of Directors with up to 7.3% of

outstanding shares.

*For full and complete information please read the minutes of

the Extraordinary General Meeting, which is attached hereto.

Ian Jenks, resigning chairman of Techstep ASA, summarize the

recent term:

"I am pleased that we have completed the journey to secure the

future of Techstep. Through the current transaction acquiring

the majority in Teki Solutions, Techstep will now have a viable

business platform to build the future on."

This information is subject to the disclosure requirements

according to vphl § 5-12 (Norwegian Securities Trading Act).

For further information, please contact:

Fredrik Johansson, COO of Techstep ASA, mobile: +46 70 352 91 90