Techstep ASA — AGM Information 2016

Mar 10, 2016

English language translation, the Norwegian text shall prevail.
Til aksjeeierne i Birdstep Technology ASA	To the shareholders of Birdstep Technology ASA
Oslo, 10. mars 2016	Oslo, 10 March 2016
INNKALLING TIL EKSTRAORDINÆR GENERALFORSAMLING 31. MARS 2016	NOTICE OF EXTRAORDINARY GENERAL MEETING 31 MARCH 2016
Styret i Birdstep Technology ASA ("Birdstep" eller "Selskapet") innkaller herved til ekstraordinær generalforsamling.	The Board of Directors of Birdstep Technology ASA ("Birdstep" or the "Company") hereby convenes an extraordinary general meeting.
Tid: 31. mars 2016 kl. 14:00 Sted: Advokatfirma Ræder DA, Henrik Ibsens gate 100, Oslo, Norge.	Time: 31 March 2016 at 14:00 hrs. (CET) Place: Advokatfirma Ræder DA, Henrik Ibsens gate 100, Oslo, Norway.
Dagsorden:	Agenda:
1. Åpning av generalforsamlingen ved styrets leder Ian Jenks. Utarbeidelse og godkjenning av liste over møtende aksjeeiere. Valg av møteleder og valg av person til å medundertegne protokollen	1. Opening of the meeting by the chairman of the board Ian Jenks. Preparation and approval of list of shareholders represented. Election of chairman of the meeting and person to co sign the minutes
Styret foreslår at styrets leder Ian Jenks velges som møteleder.	The board proposes that the Chairman of the Board, Ian Jenks, is elected to chair the meeting.
2. Godkjennelse av innkalling og dagsorden	2. Approval of notice and agenda
3. Godkjennelse av avtale om salg av Birdstep Technology AB	3. Approval of Agreement regarding sale of Birdstep Technology AB
a) Godkjennelse av transaksjonen vedrørende salg av Birdstep Technology AB	a) Approval of the transaction regarding the sale of Birdstep Technology AB
Den 8. mars 2016 ble det offentliggjort at Selskapet har inngått en Share Purchase Agreement med Smith Micro Software, Inc. («Smith» eller «Kjøper») hvoretter Selskapet vil selge 100 prosent av Selskapets aksjer i sitt heleide datterselskap, Birdstep Technology AB, til Smith for en samlet kjøpesum på USD 2 millioner. For nærmere informasjon om transaksjonen, se Vedlegg 1. Styret i Selskapet har godkjent transaksjonen med forbehold om generalforsamlingens samtykke og foreslår at den ekstraordinære generalforsamlingen fatter følgende vedtak:	On 8 March 2016, the Company announced that the Company has entered into a Share Purchase Agreement with Smith Micro Software, Inc. ("Smith" or the "Buyer") pursuant to which the Company will sell 100 per cent of the shares in the Company's wholly owned subsidiary, Birdstep Technology AB, to Smith for USD 2.00 million. For a further description of the transaction, please see Attachment 1. The Board of Directors of the Company has approved the transaction subject to shareholder approval, and the Board proposes that the Company's Extraordinary General Meeting passes the following resolution:
«Generalforsamling godkjenner Selskapets salg av	«The Extraordinary General Meeting approves the

In house translation: In case of discrepancy between the Norwegian language original text and the

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100 % av Selskapets aksjer i Birdstep Technology AB til Smith Micro Software, Inc.». b) Endring av Selskapets foretaksnavn Som et ledd i salget av Birdstep Technology AB til Smith, og som en del av avtalen med Smith, har styret forpliktet seg til å foreslå en endring av Selskapets foretaksnavn slik at navnet ikke lenger benytter begrepene «Birdstep», «Bird Step» eller et lignende navn. En navneendring, og tilhørende vedtektsendring, krever samtykke av generalforsamlingen. Styret foreslår at den ekstraordinære generalforsamlingen vedtar at det skal foretas en navneendring som angitt og at styret deretter fremmer et konkret forslag til navneendring på ordinær generalforsamling den 27. april 2016. Styret foreslår således at den ekstraordinære generalforsamlingen fatter følgende vedtak: «Selskapets foretaksnavn skal endres slik at navnet ikke lenger benytter begrepene «Birdstep», «Bird Step» eller lignende navn med virkning fra datoen for ordinær generalforsamling 2016 i Selskapet. Et konkret forslag til navneendring med tilhørende forslag til vedtektsendring skal fremlegges for ordinær generalforsamling den 27. april 2016». * * * Aksjeeiere som ønsker å delta på den ekstraordinære generalforsamlingen oppfordres til å fylle ut og sende inn vedlagte påmeldingsskjema til DNB Bank ASA, Verdipapirservice, senest 29. mars 2016 kl. 12. Påmelding foretas elektronisk via Selskapets hjemmeside www.birdstep.com eller via Investortjenester. For å få tilgang til elektronisk påmelding via Selskapets hjemmeside, må referansenummer og pinkode angitt på vedlagte påmeldingsskjema oppgis. Alternativt kan påmelding sendes på e-post til genf@dnb.no, postadresse: DNB Bank ASA, Verdipapirservice, Postboks 1600 Sentrum, 0021 Oslo, Norge. transaction regarding the sale of 100 % of the Company's shares in Birdstep Technology AB to Smith Micro Software Inc». b) Change of the Company's corporate name By reason of the sale of 100 per cent of the shares in Birdstep Technology AB, the Board has agreed to propose a change of the Company's corporate name, whereby the name will not use the terms "Birdstep", "Bird Step" or any similar name. A name change, including the associated amendment of the Articles of Association, is subject to approval by the general meeting. The Board proposes that the Extraordinary General Meeting approves to change the name as stated and that the Board will revert with a specific name proposal for approval at the annual general meeting on 27 April 2016, Therefore, the Board proposes that the Extraordinary General Meeting passes the following resolution: «The Company shall change its corporate name so that it no longer uses the terms "Birdstep", "Bird Step" or any similar name with effect as of the date of the 2016 Annual General Meeting in the Company. A specific proposal for a new corporate name, and associated amendment of the Articles of Association, shall be presented to the Annual General Meeting on 27 April 2016». * * * Shareholders who are attending the extraordinary general meeting are asked to fill in and return the attached notice of attendance to DNB Bank ASA, Registrar's Department, no later than 29 March 2016 at 12 hrs. Notice of attendance may be sent electronically through the Company's website www.birdstep.com or through VPS Investor Service. To access the electronic system for notification of attendance through the Company's website, the reference number and pin code set out in the attached notice of attendance form must be stated. Notice of attendance may also be sent by e-mail to genf@dnb.no, regular post to DNB Bank ASA, Registrar's Department, P.O. Box 1600 Sentrum, 0021 Oslo, Norway.

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Aksjeeiere som ikke selv kan møte på den ekstraordinære generalforsamlingen, kan benytte vedlagte fullmaktsskjema, med eller uten stemmeinstruks. Fullmakten kan benyttes av den aksjeeieren bemyndiger, eller aksjeeieren kan sende fullmakten uten å påføre navn på fullmektigen. I så fall vil fullmakten anses gitt styrets leder, eller den han bemyndiger. Fullmakten må være DNB Bank ASA, Verdipapirservice, i hende senest 29. mars 2016 kl. 12. Elektronisk innsendelse av fullmakt kan gjøres via Selskapets hjemmeside www.birdstep.com eller via Investortjenester. Alternativt kan fullmakt sendes på e-post til genf@dnb.no, postadresse: DNB Bank ASA, Verdipapirservice, Postboks 1600 Sentrum, 0021 Oslo, Norge.

Aksjonærer har rett til å fremsette forslag til vedtak i de saker som den ekstraordinære generalforsamlingen skal behandle. Aksjonærer har rett til å ta med rådgivere, og kan gi talerett til én rådgiver.

En aksjonær kan kreve at styremedlemmer og daglig leder på den ekstraordinære generalforsamlingen gir tilgjengelige opplysninger om forhold som kan innvirke på bedømmelsen av saker som er forelagt for avgjørelse av den ekstraordinære generalforsamlingen. Det samme gjelder opplysninger om Selskapets økonomiske stilling og andre saker som den ekstraordinære generalforsamlingen skal behandle, med mindre de opplysninger som kreves, ikke kan gis uten uforholdsmessig skade for Selskapet.

På tidspunktet for denne innkallingen er det utstedt totalt 101 621 630 aksjer i Selskapet. På samme tidspunkt er det vedtatt totalt 135 621 630 aksjer i Selskapet à kr 0,10 (for å unngå tvil; ovennevnte tall baserer seg på Selskapets antall aksjer før gjennomføring av aksjespleis som vedtatt av Selskapets ekstraordinære generalforsamling den 29. januar 2016). Beslutninger om stemmerett for aksjeeiere og fullmektiger treffes av møteåpner, hvis beslutning kan omgjøres av den ekstraordinære generalforsamlingen med alminnelig flertall.

Selskapet har i medhold av allmennaksjeloven § 5- 11 a vedtektsfestet at dokumenter som gjelder saker som skal behandles på den ekstraordinære generalforsamlingen ikke må sendes til aksjeeierne dersom de gjøres tilgjengelig på Selskapets internettsider. En aksjeeier som krever det vil likevel få tilsendt dokumentene per post ved å hendvende seg til Selskapet.

Shareholders who cannot attend the extraordinary general meeting in person may use the attached proxy form, with or without voting instructions. The proxy may be used by a person authorized by the shareholder, or the shareholder may send the proxy without naming the proxy holder. In such case, the proxy will be deemed to be given to the Chairman of the Board or a person authorized by him. The proxy form should be received by DNB Bank ASA, Registrar's Department, no later than 29 March 2016 12 hrs. The proxy form may be sent electronically through the Company's website www.birdstep.com or through VPS Investor Service. The proxy may also be sent by e-mail to genf@dnb.no, regular post to DNB Bank ASA, Registrar's Department, P.O. Box 1600 Sentrum, 0021 Oslo, Norway.

Shareholders are entitled to propose suggestions to resolutions in the matters that the Extraordinary General Meeting will consider. Shareholders are allowed to bring advisers, and may give one adviser the right to speak.

A shareholder may demand that board members and the CEO provide available information at the Extraordinary General Meeting about matters which may affect the assessment of items which have been presented to the shareholders for decision. The same applies to information regarding the Company's financial position and other business to be transacted at the extraordinary general meeting, unless the information demanded cannot be disclosed without causing disproportionate harm to the Company.

On the date of this notice, Birdstep Technology ASA has a total of 101 621 630 issued and outstanding shares. At the same time, the Company has resolved a total of 135,621,630 shares each with a nominal value of NOK 0.10 (for the avoidance of doubt; the above figures are based on the Company's number of shares prior to completion of the share consolidation approved by the Company's Extraordinary General Meeting dated 29 January 2016) . Decisions regarding voting rights for shareholders and proxy holders are made by the person opening the extraordinary general meeting, whose decisions may be reversed by the extraordinary general meeting by simple majority vote.

The Company has, pursuant to section 5-11 a of the Public Limited Companies Act, resolved that the Company is not obligated to send documents which concern matters which are on the agenda for the extraordinary general meeting to its shareholders as long as they are published on the Company's website. However, a shareholder may demand to get the documents sent by mail by contacting the Company.

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Informasjon vedrørende denne ekstraordinære generalforsamlingen, herunder denne innkalling med vedlegg, Selskapets vedtekter og årsregnskapet med årsberetning for 2014 er tilgjengelig på Selskapets forretningskontor og på dets nettside www.birdstep.com. Oslo, 10. mars 2016 Med vennlig hilsen for styret i Birdstep Technology ASA ______________________________ Ian Jenks Styrets leder Information regarding the Extraordinary General Meeting, including this notice with attachments, the Company's articles of association and the annual financial statements with the annual report for 2014 are available at the Company's premises and on its website www.birdstep.com. Oslo, 10 March 2016 Yours sincerely, for the board of directors of Birdstep Technology ASA __________________________ Ian Jenks Chairman of the board of directors

Vedlegg 1/ Attachment 1

1. The Transaction

1.1 Birdstep Technology AB

Birdstep Technology AB ("BTAB"), is a wholly owned Swedish subsidiary of Birdstep Technology ASA.

1.2 The Agreement

Birdstep Technology ASA, ("Birdstep" or "Company"), and Smith Micro Software, Inc., ("Smith") entered into a Share Purchase Agreement on March 8, 2016 whereby Smith will acquire 100% of the shares in BTAB from Birdstep on the Closing Date.

Smith is a leading software and services company listed on NASDAQ. Smith provides software to simplify and enhance the mobile experience. As a leader in wireless connectivity, Smith applications help improve network Quality of Experience for mobile users while optimizing resources for service providers and enterprises. Smith's intelligent policy-on-device platform, along with premium voice, video and content monetization services, creates new opportunities to engage consumers and capitalize on the growth of connected devices. In addition to wireless and mobility software, Smith develops innovative Productivity and Graphics products for professional artists and general consumers. The company is headquartered in Aliso Viejo, CA, with additional development centers in Santa Cruz, CA, Pittsburgh, PA and Belgrade, Serbia. For further information, please see www.SmithMicro.com.

1.3 Special conditions (or license issues)

The Closing is subject to separate approval by the shareholders of Birdstep, to be held at an extraordinary general meeting on or about March 31, 2016.

1.4 The consideration

The aggregate consideration for the Transaction is USD \$2,000,000. The consideration will be executed through wire transfer from Smith to Birdstep at Closing.

The purchase and sale of the Shares shall take place at a closing (the "Closing") to be held at 9:00 a.m. Pacific time, no later than two Business Days after the last of the conditions to Closing have been satisfied or waived, or at such other time or on such other date as Seller and Buyer may mutually agree upon in writing (the day on which the Closing takes place being the "Closing Date").

2. Description of the business to which the Transaction applies

2.1 The business to which the Transaction applies

Birdstep's current main business is to develop and distribute "Heterogeneous Network" (Birdstep's "HetNet") optimization solutions, allowing operators and OEMs to provide, analyse, select, control and Field Code Changed

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commercialise Wi-Fi and cellular networks to deliver experience continuity to their customers. The business is completely carried out through Birdstep's wholly owned Swedish subsidiary BTAB.

BTAB is the owner of Birdstep's engineering and development organization, sales organization, product management, including the present and previous product portfolio, the technology and intellectual property rights, including patents, trademarks and trade names, copyright and know-how related to the business to which the Transaction applies.

2.2 Board of directors, executive management and employees

2.2.1.1 Board of Directors of Birdstep Technology ASA

Name	Position
Ian Jenks	Chairman of the Board
Tore Traaseth	Board Member
Ingrid Leisner	Board Member

2.2.1.2 Board of directors and deputy of Birdstep Technology AB

Name	Position
Lonnie Schilling	Board Member
Fredrik Johansson	Deputy Board Member

2.2.2 Executive management

Birdstep Technology AB:

Name	Position
Lonnie Schilling	CEO
Sophie Rabenius	CFO
Fredrik Johansson	COO
Åke Brissman	Head of Engineering
Rikard Nilsson	Head of Operations
Marie-Louise Nilsson	VP Market Communications
Britt Alexandersson*	HR Manager

*Consultant

2.2.3 Number of employees

As of the date of the signing of the Share Purchase Agreement, the total number of employees within Birdstep Technology AB was 19.

2.3 Key figures

The table below shows selected financial information for BTAB as at the dates and for the years indicated, which have been extracted without material adjustment from the Company's audited annual reports for 2014 and 2013, and which are incorporated by reference to this Detailed Stock Exchange Announcement. The financial figures in the table below are only an extract and must be read in conjunction with the complete financial statements including notes and auditor's statement for 2014 and 2013.

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The table below also shows selected financial information for BTAB for 2015, which have been extracted from BTAB's unaudited financial report for 2015. The financial figures in the table below are only an extract and must be read in conjunction with the complete financial statements including notes.

BTAB's key figures (in SEK 1 000):

	2015*	2014	2013
Operating revenue	58 815	39 427	41 578
Operating result (EBITDA)	-312	1 617	1 771
Total assets	35 566	21 762	26 768

*unaudited

2.4 Any significant assets or liabilities that are not shown in the balance sheet

At the date of this announcement there are no significant assets or liabilities that are not shown in the balance sheet.

3. The significance of the Transaction to the Company

Despite continuous efforts, Birdstep faced challenges that required rapid adjustments throughout 2015 and into 2016. After Birdstep lost its main revenues with Sprint in November 2015, accounting for 87% of total revenue in 2015, the financial outlook has become critical. Birdstep had no other choice than to intensify its efforts to look for strategic alternatives in order to avoid default. The Transaction with Smith will secure a future for both the technology and the majority of BTAB's employees under the ownership of Smith.

After the completion of the Transaction Birdstep is expected to have a cash position net of transaction and other related costs of approximately NOK 26.2 million.

After completion of the contemplated sale of BTAB, Birdstep will need to pursue alternative strategies to create values to its shareholders. The contemplated cooperation with Smith and the partnership with Teki Solutions (both as announced on Oslo Børs on March 9, 2016) will enable Birdstep to profit from the continued development and extended distribution of products based on the same and familiar technology to the one that is now disposed of through the sale of BTAB, at a substantially reduced risk.

4. Agreements for the benefit of executive management or board members in connection with the Transaction

Except as stated below, there are no agreements, existing or contemplated, in connection with the Transaction that involve extraordinary benefits for senior employees or members of the board of directors in Birdstep or BTAB.

There is retention remuneration for the CEO with a total cost of NOK 3.7 million and the same for the COO with a total cost of around 1.6 million.

1108942 /105950 * * *