INFORMATION DOCUMENT

Techstep ASA

In connection with the entering into a Share Exchange Agreement with Zono Holding AS for the acquisition of all shares in Zono AS and, the entering into an agreement in principle with Teki Gruppen AS for the acquisition of Teki Gruppen AS's shareholding in Teki Solutions AS.

NO SHARES OR OTHER SECURITIES ARE BEING OFFERED OR SOLD IN ANY JURISDICTION PURSUANT TO THIS INFORMATION DOCUMENT

12 August 2016

IMPORTANT NOTICE

This information document (the "Information Document") has been prepared in connection with Techstep ASA's ("TECH" or the "Company") entering into a Share Exchange Agreement, on 1 July 2016, with Zono Holding AS for the acquisition of all the issued shares in Zono AS (the "Zono Transaction"), which, upon completion, will represent an increase of more than 5% in the total revenue and assets of TECH. Further, on 1 July 2016, TECH entered into an agreement in principle with Teki Gruppen AS ("Teki Gruppen") for the acquisition of Teki Gruppen's shareholding in Teki Solutions AS (the "Teki Gruppen Transaction"), which, upon completion, also will represent an increase of more than 5% in the total revenue and assets of TECH. (The Zono Transaction and the Teki Gruppen Transactions together the "Transactions").

No shares or other securities are being offered or sold in any jurisdiction pursuant to this Information Document.

This Information Document has been submitted to Oslo Stock Exchange for review before it was published. This Information Document is not a prospectus and has neither been inspected nor approved by The Financial Supervisory Authority of Norway (No. Finanstilsynet) in accordance with the rules that apply to prospectuses.

All inquiries relating to this Information Document must be directed to the Company. No other person is authorised to give any information about, or to make any representations on behalf of, the Company in connection with the Transaction. If any such information is given or made, it must not be relied upon as having been authorised by the Company. The information contained herein is valid as at the date hereof and is subject to change, completion and amendment without further notice.

The contents of this Information Document are not to be construed as legal, business or tax advice. Each reader of this Information Document should consult with its own legal, business or tax advisor as to legal, business or tax advice. If you are in any doubt about the contents of this Information Document you should consult your stockbroker, bank manager, lawyer, accountant or other professional adviser.

The distribution of this Information Document in certain jurisdictions may be restricted by law. Techstep requires persons in possession of this Information Document to inform themselves about, and to observe, any such restrictions.

The Company has not registered any of its shares under the United States Securities Act of 1933, as amended (the "Securities Act"), and its shares may not be offered or sold in the United States of America absent registration or an exemption from registration. The Company does not intend to register any of its shares pursuant to the Securities Act.

Investing in the Company's shares involves risks. See section 1 "Risk Factors" below.

1. RISK FACTORS5
1.1 Risk factors related to the Company and the industry in which it operates 6
1.2 Risk factors related to the Company's shares7
2. RESPONSIBILITY FOR THE INFORMATION DOCUMENT 8
2.1 The Board of Directors8
2.2 Information sourced from third parties8
3. THE TRANSACTIONS9
3.1 Introduction 9
3.2 The Zono Transaction10
3.2.1 Zono AS ("Zono") 10
3.2.2 The Agreement 10
3.2.3 The cost for the Transaction 11
3.3 The Teki Gruppen Transaction11
3.3.1 The Agreement 11
3.3.2 The cost for the Transaction 11
3.4 Background and rationale for the Transactions 11
3.5 Description of the business to which the Transaction applies12

3.5.1 The business to which the transaction applies
3.5.2 Board of directors, management and employees of Zono AS
3.5.3 Key figures for the business
3.5.4 The significance of the Transaction to the Company
3.6 Agreements for the benefit of executive management or board members in connection with the Transaction
4. PRESENTATION OF TECHSTEP ASA
4.1 General
4.2 Legal Structure
4.3 Board of Directors, Executive Management and Employees
4.3.1 Board of directors
4.3.2 Executive Management
4.3.3 Employees
4.4 Statutory auditors
4.5 Share capital and shareholders
4.5.1 Share capital
4.5.2 Shareholders
4.6 Business description
4.7 Strategy and vision
4.8 Trends
4.9 Corporate governance
4.10 Dependency of patents, licenses or specific agreements etc
4.11 Major contracts
4.12 Legal and arbitration proceedings related to the business
5. HISTORICAL FINANCIAL INFORMATION
5.1 Selected financial information for Techstep Group
5.2 Auditing of historical annual information
6. UNAUDITED PRO FORMA FINANCIAL INFORMATION
6.1 Background to the preparation of unaudited pro forma financial information27
6.2 Sources of unaudited pro forma information
6.3 Basis for preparation of the unaudited pro forma financial information 27
6.4 Unaudited pro forma condensed financial information – income statement for the twelve months ending 31 December 2015.

6.4.1 Notes to the unaudited pro forma financial information 29
6.4.2 Independent assurance report on unaudited pro forma financial information 32
6.5 Unaudited pro forma condensed financial information 2016 33
6.5.1 Unaudited pro forma condensed financial information 2016 – income statement for the six months ending 30 June 2016 33
6.5.2 Unaudited pro forma condensed financial information – balance sheet as of 30 June 2016 34
6.5.3 Notes to the unaudited pro forma financial information 34
7. CAPITAL RESOURCES38
7.1 Summarised Consolidated Cash Flow38
8. ADDITIONAL INFORMATION 40
8.1 Documents on display40
8.2 Documents incorporated by reference40

ANNEX 1: Independent assurance report on pro forma financial information ANNEX 2: Annual Report 2015, Birdstep Technology AB ANNEX 3 Annual Report 2015, Zono AS (former Klekkerud) ANNEX 4 Annual Report 2015, Teki Solutions AS

1. RISK FACTORS

Before investing in the Company, investors should carefully consider all of the information contained in this Information Document, and in particular the following risk factors, which may affect some or all of the Company's activities, the industry in which it operates and the Company's shares. The risk factors described below are not the only ones that will be faced by the Company. Other risks and uncertainties, including those management of the Company does not currently consider material, may impair the Company's business. The risk factors discussed below may materially adversely affect the business, financial condition, operating results or cash flow of the Company. The order in which

risk factors appear is not intended as an indication of the relative weight or importance thereof. Such information is presented as of the date hereof and is subject to change without notice.

1.1 Risk factors related to the Company and the industry in which it operates

Time itself may be characterized as a risk factor. In the following sub-chapters, time and delays are inherent parts of many of the risk factors. Most challenges may be solved with time, but there is an inherent risk that a delay itself may cause a product to fail or that the delay and incurred cost may become a challenge to the Company.
Following the sale of Birdstep Technology AB (Birdstep AB) to Smith Micro Software, Inc., the Company has no revenue generating business platform. While certain agreements have been signed regarding new business structures and affiliations, there is no guarantee that these agreements will lead to and establish a viable platform for future revenue generating business operations.
As part of the sale of Birdstep AB to Smith Micro Software, Inc., the Company has issued representations and warranties to Smith Micro Software, Inc., which are valid until 7 April 2017. The representations include, but are not limited to, absence of conflicts, financial statements, restrictions on business activity, intellectual property, product warranties and employee benefit plans. The indemnification liability for these representations are capped at USD 250,000. While carefully evaluated at the time of the Share Purchase Agreement, these representations and warranties could theoretically negatively impact the Company's revenue.
The Company is exposed to the economic cycle, as changes in the general economic situation could affect demand for the Company's products.
The Company's profitability may be adversely affected during any period of unexpected or rapid increase in interest rates.
Changes in the legislative, political, regulatory and economic framework in any region could adversely affect the Company's operations directly or indirectly. Changes in political regimes or political instability may also negatively affect the Company's operations in foreign countries.
The Company is exposed to liquidity risk in that it may not be able to service its financial obligations as they fall due. The Company's strategy to manage liquidity risk is to have sufficient liquidity at all times in order to meet its financial obligations when due, both under normal and extraordinary circumstances, without taking risk of unacceptable losses or at the expense of the Company's reputation.
As part of the growth strategy, joint ventures and strategic alliances will be constantly evaluated. There are risks and uncertainties concerning the ability to identify and implement joint ventures or strategic alliances. The failure of identifying and implementing such partners may have an adverse effect on the Company's growth, earnings and market capitalization.
The Company may seek to raise capital through collaborative arrangements, strategic alliances, and/or equity and debt financings or from other sources. However, the Company may prove unable to raise such additional capital on commercially acceptable terms, if at all. If the Company is unable to generate adequate funds from operations or from additional sources, then the business, results of operations and financial condition may be materially and adversely affected.

1.2 Risk factors related to the Company's shares

The market price of the Shares may be highly volatile and investors in the Shares could suffer substantial losses. An investment in the Shares involves a high degree of risk, and investors should be able to withstand substantial losses and/or wide fluctuations in the market price of the shares. The market price of the Shares could fluctuate significantly due to a number of factors, including but not limited to risk factors mentioned in this Section as well as quarterly variations in operating results, adverse business development, changes in financial estimates and investment recommendations or ratings by securities analysts, announcements by the Company or its competitors of new product and service offerings, significant contracts, acquisitions or strategic relationships, publicity about the Company, its products or its competitors, lawsuits against the Company, unforeseen liabilities, changes in management or general market conditions. In addition, the stock markets in general, and the market for developing tech companies in particular, have experienced high volatility that has often been unrelated to the operating performance of the issuer. No assurances can be given that stock market fluctuations, even if otherwise unrelated to the Company's activities, will not have a material adverse effect on the market price of the Shares.
Beneficial owners of the shares that are registered in a nominee account (e.g., through brokers, dealers or other third parties) may not be able to vote for such shares unless their ownership is re-registered in their names with the VPS prior to the Company's general meetings. The Company cannot guarantee that beneficial owners of the shares will receive the notice for a general meeting in time to instruct their nominees to effect a re-registration of their shares or otherwise arrange for votes to be cast for such shares.
Although the Company's shares are listed, there is no guarantee for a liquid market for the shares at all times. The Shares may not be easily disposed of at all times.

2. RESPONSIBILITY FOR THE INFORMATION DOCUMENT

2.1 The Board of Directors

The members of the Board of Directors of Techstep ASA hereby declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Information Document is, to the best of their knowledge, in accordance with the facts and contains no omission likely to affect its import.

Oslo, 12 August 2016

2.2 Information sourced from third parties

The information in this Information Document that has been sourced from third parties has been accurately reproduced and as far as the Company is aware and able to ascertain from information published by that third party, no facts have been omitted which would render the reproduced information inaccurate or misleading. The source of third party information is identified, if and where used.

3. THE TRANSACTIONS

3.1 Introduction

On 1 July 2016, Techstep ASA ("TECH") entered into an agreement with Zono Holding AS ("Zono Holding"), a company controlled by Middelborg AS, of a transaction whereby TECH will acquire 100% of the shares in Zono AS ("Zono") in exchange for shares to be issued in TECH (the "Zono Transaction"). The assets of Zono will comprise 24.22% of the shares in Teki Solutions AS ("Teki Solutions"), 5.12% of the shares in Kjedehuset AS ("Kjedehuset") and approximately NOK 55 million in net cash balance. The transaction is fulfillment of the intentions and principles set out in the letter of intent entered into on 8 March 2016 between Middelborg AS ("Middelborg") and TECH.

Further, on 1 July 2016, TECH entered into an agreement in principle with Teki Gruppen AS ("Teki Gruppen") to acquire an additional 53.94% of the shares in Teki Solutions, also this in exchange for shares to be issued in TECH (the "Teki Gruppen Transaction").

On 8 March 2016, in connection with TECH's sale of Birdstep Technology AB, TECH, Smith Micro and Teki Solutions also entered into a separate letter of intent regarding exploration of Smith Micro's and Birdstep Technology AB's technology towards the customer base of Teki Solutions. Subsequently, the letter of intent has been replaced with a process agreement. This process agreement includes access to certain products as well as technical training for Teki Solutions for a certain test period. The aim is to establish a long-term partnership between Teki Solutions and Smith Micro, where Teki Solutions' subsidiary SmartWorks will be heavily involved, covering the Nordic region.

The contemplated acquisitions support TECH's strategy to build on its knowledge and background in mobile technology to establish TECH as a driver of consolidation within the mobility and communications sector.

The competitive landscape of this market in Norway is still fragmented. The changes in market dynamics require larger, but agile players that both have the ability to deliver innovative services and solutions at pace with technology development, and the security and performance needed to move business critical process and sensitive data out on handheld devices. TECH aims to be an attractive driver of consolidation, innovation and product development within the mobility and communications segment.

Teki Solutions provides B2B mobility and communications products and services in Norway. Its mobile device product offering is branded as Nordialog, and its solutions and service offering as SmartWorks. With a customer base of 3,600 companies with 220,000 end users, Teki Solutions has an extensive reach within the Norwegian business segment.

Kjedehuset, in which Zono AS owns 5.12%, is Telenor's Norwegian B2B sales and distribution organisation. Teki Solutions' Nordialog business has a franchise agreement with Kjedehuset and has together with SmartWorks a close relationship with Telenor. The contemplated transactions are expected to strengthen the combined distribution power and thereby strengthen the alliance with Kjedehuset and Telenor through a more rapid development of value adding services towards their joint extensive customer base.

Zono has a net cash position of approximately NOK 55 million that will be part of the Zono Transaction. The strengthened cash position will be important in financing TECH's further organic and structural growth. The combined competence, network, assets and financial resources of TECH, Teki Solutions, Middelborg and Teki Gruppen is expected to catalyse growth.

Key drivers in the continued growth of the combined entities

Growth will be targeted along two main axes having multiplicative effects on revenue and profitability:

Service current end user base with a larger range of services to increase average revenue per user ("ARPU") currently at approximately NOK 210 per month¹ :
o Assist customers in mobility transformation by rolling out existing suite of solutions to a larger share of customers.
o Continue to be a leading solutions innovator in close collaboration with customers
o Address M&A and/or partnership opportunities of further value-added services
Increase base of end users:
o Target M&A opportunities
o Organic growth, increase share of wallet (today less than 50%)

3.2 The Zono Transaction

3.2.1 Zono AS ("Zono")

Zono AS ("Zono"), formerly Klekkerud AS, is a company wholly owned by Zono Holding AS, which, in turn, is owned by Middelborg and certain other financial investors, including Datum AS, Cipriano AS and Tigerstaden AS. The assets of Zono will comprise 24.22% of the shares in Teki Solutions AS, 5.12% of the shares in Kjedehuset AS and approximately NOK 55 million in net cash balance.

3.2.2 The Agreement

TECH and Zono Holding entered into a Share Exchange Agreement on 1 July, 2016, for the acquisition of 100% of the shares (the "Shares") in Zono, under which acquisition the consideration for the Shares takes the form of TECH consideration shares.

After completion of the Zono Transaction, Zono Holding will hold 81.10% of the shares and votes in TECH (before the contemplated repair issue announced on 5 July 2016 and completion of the Teki Gruppen Transaction). Together with shares and votes currently held directly by Middelborg, Middelborg will control 87.38% of the shares and votes in TECH.

If completed, the Zono Transaction will trigger an obligation for Zono Holding to make a mandatory offer for all of the outstanding shares in TECH. Zono Holding has notified TECH of its intention to offer a price of NOK 2.20 per share. The mandatory offer is expected to be made during September 2016. Zono Holding has also notified TECH that the purpose of the mandatory offer will be to comply with the mandatory offer obligations in the Securities Trading Act, not to increase its stake in TECH. The intention of Zono Holding is that TECH shall remain a listed company on Oslo Stock Exchange with a large and diversified shareholder base.

¹ Based on consolidated figures from first half of 2016, excluding Nordialog Asker

In the transaction, Zono is valued at NOK 128 million, which will be settled by issuance of 58,181,818 TECH consideration shares at a subscription price of NOK 2.20 per share.

The exchange of the shares shall take place at the closing of the Zono Transaction (the "Closing"), expected to be held primo September 2016, after the last of the conditions to Closing have been satisfied, or at such other time or on such other date as TECH and Zono Holding may mutually agree upon in writing (the day on which the Closing takes place being the "Closing Date").

It is a condition for the closing of the Agreement that Zono will comprise the following assets:

24.22% of the shares in Teki Solutions AS;
5.12% of the shares in Kjedehuset AS; and
A net cash balance of NOK 55 million.

The Closing is further subject to separate approval by the shareholders of the Company. The Board of Directors of TECH has in this respect convened an extraordinary general meeting to be held at 23 August 2016.

3.2.3 The cost for the Transaction

The Company will have a total cost of approximately NOK 1.0 million in transaction fees, primarily for financial and legal advisors.

3.3 The Teki Gruppen Transaction

3.3.1 The Agreement

On 1 July 2016, TECH entered into an agreement in principle with Teki Gruppen AS ("Teki Gruppen") to acquire an additional 53.94% of the shares in Teki Solutions, also this in exchange for shares to be issued in TECH.

The Teki Gruppen Transaction is, inter alia, conditioned upon the successful outcome of a financial and legal due diligence and approval at an extraordinary general meeting in TECH. If all conditions are satisfied the transaction is expected to be completed during Q3 2016.

The Teki Gruppen Transaction, whereby TECH will acquire a further 53.94% of the shares in Teki Solutions, involves a price on the same general terms on valuation of Teki Solutions as implied in the Zono Transaction. The transaction is to be settled in full with TECH shares to be issued at a subscription price based on the volume weighted average share price at Oslo Stock Exchange over 15 trading days following completion of the Zono Transaction. However, the subscription price shall not be below NOK 2.5 and not above NOK 4.3.

3.3.2 The cost for the Transaction

The Company will have a total cost of approximately NOK 2.4 million in transaction fees, primarily for financial and legal advisors.

3.4 Background and rationale for the Transactions

After the sale of Birdstep AB and up to the date of this Information Document, the Company has

not completed any sales generating business activity. However, the Company's new strategy is to build on its knowledge and background in mobile technology to establish the company as a driver of consolidation within the mobility and communications sector. The contemplated Transactions support this strategy.

The mobility and communications market is undergoing disruptive shifts where work is increasingly mobile and the value proposition is changing from telecoms' infrastructure towards a fragmented ecosystem of software and digital solutions.

3.5 Description of the business to which the Transaction applies

3.5.1 The business to which the transaction applies

3.5.1.1 Teki Solutions AS

Teki Solutions provides B2B mobility and communications products and services in Norway.

Headquartered in Oslo, Teki Solutions has 10 offices and business centres across Oslo and eastern Norway. The company has approximately 140 employees. Teki Solutions was formed in 2013 through mergers of independent mobility and communication providers. Teki Solutions has two main business areas. The first is sale of mobile solutions, mobile devices and related hardware and mobile subscription packages for business customers through the Nordialog brand in eastern Norway. The Nordialog Oslo part has a history going back approximately 20 years. The second is development of customized solutions and products through the in-house advisor and solution architect SmartWorks AS ("SmartWorks"), a wholly owned subsidiary of Teki Solutions.With a customer base of approximately 3,600 companies with 220,000 end users, Teki Solutions has an extensive reach within the Norwegian business segment. The top customers include many large companies with international reach (See Figure 1), and Teki Solutions' has partnership agreements with well-known hardware and software providers.

Teki Solutions group had a turnover of NOK 651 million in 2015, with an annual growth rate of approximately 12% since Teki Solutions was formed through a number of mergers in 2013. A key driver in this growth was service revenues which grew from NOK 21 million in 2013 to NOK 71 million in 2015. This service-driven growth is typically through increased service revenue to the existing customer base from sale of hardware, i.e. an increased of average revenue per user ("ARPU"). For the first half of 2016 the ARPU was approximately NOK 210 per month. As an example of this, in 2015, Teki Solutions assisted an airline company to reduce and simplify flight documentation for their pilots. This involved providing a suite of 23 third party applications as well as support and operation, all "as-a-service". Going forward income growth will come from increase in ARPU, increased number of end-users and the combination thereof, as well as new "as a service" business models. Services have had a substantially higher gross margin than hardware and subscription sale and are typically provided "as-a-service" with recurring revenues. Section 4.7 describes the Company's growth strategy in further detail.

3.5.1.2 Kjedehuset AS

Kjedehuset, in which Zono owns 5.12%, is Telenor's Norwegian B2B sales and distribution organisation. Teki Solutions' Nordialog business has a franchise agreement with Kjedehuset and has together with SmartWorks a close relationship with Telenor. The contemplated Transaction is expected to strengthen the combined distribution power and thereby strengthen the alliance with Kjedehuset and Telenor through a more rapid development of value adding services towards their joint extensive customer base. Kjedehuset is owned 49% by Telenor Norge AS and 51% by the owners of its independent franchisees, of which Zono owns 5.12% and companies in the Teki Solutions group own 20.96%.

3.5.1.3 The Norwegian Telecom Market

The Norwegian telecom market is experiencing rapid change in customer behaviour. IT use is increasingly shifting from stationary devices to mobile devices, as seen in the increase in internet

traffic from mobile devices from ~41% in the beginning of 2014 to ~60% in March 2016 in Norway (See Figure 1)² .

The installed user base of smartphones in Norway has increased over the years, and the smartphone penetration rate has grown from approximately 57% in 2011³ to 85% of the total population in 2015⁴ . The tablet penetration rate in 2015 is estimated at 75%⁵ . In addition, the proportion of Norwegians who connect to the internet on an average day through their mobile device has grown from 7% in 2009 to 68% in 2015⁶ . Norwegians are more connected while on the move, and approximately 77% of the population has connected while outside their home or workplace⁷ . The average data usage in Norway on mobile devices has increased at a compound annual growth rate of 59% in the last five years until 2015⁸ .

Figure 2: Figure illustrating the number of unique connection sessions in Norway. Measured in relative proportion between PC and mobile devices

² Source: TNS Gallup, http://www.tnslistene.no/?list\_id=12&list\_type=4&week=21&year=2016&report=day&metric=avrch\_000

³ Source: TNS Gallup and MedieNorge,http://www.medienorge.uib.no/statistikk/medium/ikt/379

⁴ Source: SSB, http://www.ssb.no/kultur-og-fritid/artikler-og-publikasjoner/\_attachment/262805?\_ts=154710d88a8

⁵ Source: SSB, http://www.ssb.no/kultur-og-fritid/artikler-og-publikasjoner/\_attachment/262805?\_ts=154710d88a8

⁶ Source: SSB and MedieNorge, http://medienorge.uib.no/statistikk/aspekt/tilgang-og-bruk/383

⁷ Source: SSB, https://www.ssb.no/teknologi-og-innovasjon/statistikker/ikthus/aar/2015-10-01#content

⁸ Source: Norwegian Communications Authority, http://www.nkom.no/aktuelt/nyheter/\_attachment/23819?\_ts=154c3d7b075

The overall B2B subscriptions market is estimated at 1.3 million subscriptions, compared to the B2C which is estimated at 4.4 million subscriptions⁹ . Telenor provides subscription to 0.8 million users in the B2B market in Norway¹⁰, and based on Teki Solutions user base of 0.2 million, the market share of Teki Solutions is estimated at approximately 27%. The Norwegian mobile telecom has experienced slow growth in recent years, but the market rose in 2015 and total market size was NOK 16.8 billion in 2015¹¹. Subscription revenues are shifting from variable fees from minutes and texts to fixed fee subscriptions¹² .

The Norwegian B2B hardware sales of mobile devices addressable to Teki Solutions is structured around partnership and franchise agreements. Kjedehuset operates in the sale and distribution of mobile and data communications solutions, and is Norway's leading provider of Telenor services in the B2B market and has a partnership agreement with Telenor. Kjedehuset operates under two brands, Nordialog and Telehuset, and has business centres across Norway through franchise agreements.

For Teki Solutions, the implications of these market developments have been increased demand for mobility and communication products, solutions and services as the companies are working closely with their customers to adapt to the changing market conditions.

3.5.2 Board of directors, management and employees of Zono AS

Name	Position
Kristian Gjertsen Lundkvist	Chairman of the Board
Ola Solheim Grøndahl	Board Member
Kjetil Hvarnes	Board Member

The table below sets forth the board members up and until the closing date:

The management of Zono AS is handled by the owner up and until the closing date.

As of the date of this Information Document there are no employees within Zono AS.

⁹ Source: Pareto Securities,http://paretosec.com/upload/files/20160525%20AINMT%20investment%20case.pdf

¹⁰ Source: Pareto Securities, http://paretosec.com/upload/files/20160525%20AINMT%20investment%20case.pdf

¹¹ Source: Norwegian Communications Authority, http://www.nkom.no/marked/ekomtjenester/statistikk/det-norske ekommarkedet-rapporter/\_attachment/23817?\_ts=154c3d72b6d. See figure 30.

¹² Source: Norwegian Communications Authority, http://www.nkom.no/marked/ekomtjenester/statistikk/det-norske ekommarkedet-rapporter/\_attachment/23817?\_ts=154c3d72b6d. See figure 30.

3.5.3 Key figures for the business

3.5.3.1 Key Figures of Zono (NOK million)

NOKm	2015	2014
Revenue	0.0	0.0
EBITDA	-0.4	-1.2
Pre-tax profits	-0.7	-0.2
All figures are audited GAAP (not IFRS adjusted).
Zono was formerly named Klekkerud AS

3.5.3.2 Key figures of Teki Solutions group

NOKm, unless stated otherwise	1H 2016	2015	2014	2013
Revenue	277.0	651.4	568.6	460.7
EBITDA ex. investment phase and	16.4	34.8	34.5	47.8
extraordinary expenses
EBITDA as reported	6.6	26.1	34.5	47.8

All figures are unaudited GAAP (not IFRS adjusted) and excluding results from Nordialog Asker.
External net interest bearing debt as of 31.12.15: Approx. NOK 56 million.

Teki Solutions experienced strong revenue growth from 2013 to 2015 driven by both increased hardware sales and ramp-up of the service offering. The reduction in EBITDA is mainly due to lower margins on hardware and decreased hardware related commissions and bonuses at a faster pace than the growth in sale of services. The strong growth within services is expected to continue in 2016 while sale of handheld devices and subscription sale is expected to decline from 2015 to 2016 due to an overall market dampening. Going forward income growth will come from increase in ARPU, increased number of end-users and the combination thereof, as well as new "as a service" business models. Margins will be driven by share of services (which on average has a substantially higher gross margin than hardware).

3.5.4 The significance of the Transaction to the Company

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

There are no agreements, existing or contemplated, in connection with the Transactions that involve extraordinary benefits for senior employees or members of the board of directors in the Company.

4. PRESENTATION OF TECHSTEP ASA

4.1 General

Techstep ASA, formerly Birdstep Technology ASA, was incorporated in August 1996 with organisation number 977 037 093. The Company is organized as a public limited liability company in accordance with the Norwegian Public Limited Companies Act. The Company's Articles of Association was last changed on 26 July, 2016, available at http://www.techstep.no/investor-relations/corporategovernance/articles-of-association/

Its registered office is Henrik Ibsens Gate 100, 0230 Oslo, Norway, telephone: +47 23 27 51 66, web address: http://www.techstep.no

The Company is listed on the Oslo Stock Exchange since 2002, with ticker "TECH".

Year	Description	Change in	Share capital	Par value per	Total number
		share capital	after change	share	of shares
[Dec 2010]			7,105,797	NOK 0.10	71,057,970
Dec 2011	Option program	30,682.60	7,136,479.60	NOK 0.10	71,364,796
Oct 2012	Private	2,000,000	9,136,479.60	NOK 0.10	91,364,796
	placement
Nov 2012	Subsequent	61,983	9,198,462.60	NOK 0.10	91,984,626
	offering
Oct 2013	Private	813,700	10,012,162.70	NOK 0.10	100,121,627
	placement
May 2014	Option	150,000	10,162,162.70	NOK 0.10	101,621,627
	agreement

Feb 2016	Private	0.30	10,162,163	NOK 0.10	101,621,630
	placement
Mar 2016	Private	3,400,000	13,562,163	NOK 0.10	135,621,630
	placement
Mar 2016	Share	-	13,562,163	NOK 1.00	13,562,163
	consolidation
Jul 2016	Subsequent	678.108	14,240,271	NOK 1.00	14,240,271
	offering

The table below shows the development in the Company's share capital from 1 January 2011.

4.2 Legal Structure

As of the date of this Information Document Techstep ASA is the parent company in the Company Group, and its subsidiaries consists of Birdstep Technology San Francisco, Inc. which is a wholly owned subsidiary of Techstep and has its registered address at 12701 Metcalf Avenue, Suite 100, Overland Park, Kansas, 66213, USA. Birdstep Technology San Francisco, Inc. is under liquidation.

4.3 Board of Directors, Executive Management and Employees

In connection with completion of the contemplated transactions, the Company will establish a new management team to execute and further develop the new group's revised strategy and growth ambitions. The Company's nomination committee will together with the largest shareholders also seek for suitable candidates to strengthen the board of directors.

4.3.1 Board of directors

Board of Directors as of the date of this Information Document:

Name	Position	Significant external activities
Ian Jenks	Chairman of the Board	-
Tore Traaseth	Board member	-
Ingrid Leisner	Board member	-

The Company's business address serve as c/o address in relation to each of the members of the board.

Each of the board members do have external assignments outside their role as member of the Company's board of directors, though none that impact their ability or possibility to serve as a member of the Company's board of directors.

There are no agreements providing for benefits upon termination of the services as member of the board to any of the board members. There are no changes to the members of the Board of Directors due to the Transaction.

4.3.2 Executive Management

The table below sets forth the Company's current executive management, their holdings of shares (directly or indirectly) and options (if any) in the Company and significant external activities (if any) as set at the date of this Information Document:

Name	Position	No. of shares	No. of options	Significant external activities
Lonnie Schilling*	CEO	3 700	0	-
Fredrik Johansson	COO, CFO acting	0	0	-

* Mr Schilling has stepped down from his position as CEO, but will continue to serve as the CEO of the Company for the notice period of six months, which started on 1 April 2016.

With the exception of the below, none of the members of the management team has any contracts providing for special benefits upon termination of employment. The CEO, Lonnie Schilling has besides the agreed notice period of six months a severance pay for up to six months.

There is also retention remuneration for the CEO with a total cost of NOK 3.0 million and the same for the COO with a total cost around NOK 1.6 million.

The Company's business address serve as c/o address in relation to the members of the executive management.

4.3.3 Employees

As of the date of this Information Document, the total number of employees within the Company is 3.

4.4 Statutory auditors

BDO AS ("BDO") has been the Company's statutory auditor since 2009 and has audited the Company's consolidated financial statements for 2015, 2014 and 2013. BDO's address is Postboks 1704 Vika, 0121 Oslo, Norway. BDO is a member of Den Norske Revisorforening (The Norwegian Institute of Public Accountants).

The auditor's reports for the financial years 2015, 2014 and 2013 are incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference").

There is no change to the Company's statutory auditor due to the Transaction.

4.5 Share capital and shareholders

4.5.1 Share capital

The Company's current share capital, including the private placement of 3 400 000 shares to Middelborg Invest AS and the subsequent offering of 678 108 shares, directed towards the Company's shareholders who did not participate in the private placement, is NOK 14 240 271 divided on 14 240 271 ordinary shares with a par value of NOK 1.00. Subject to the below, the shares are issued and fully paid up. Birdstep has only one class of shares and all shareholders have equal rights according to Norwegian law.

Middelborg Invest AS's 3 400 000 shares from the private placement will not be admitted to trading on Oslo Stock Exchange until The Financial Supervisory Authority of Norway (Norwegian: Finanstilsynet) has approved and the Company has published a listing prospectus according to Section 7-3 of the Securities Trading Act, but each of these shares gives right to one vote at the Company's general meeting. All other shares are freely transferable, and each share gives the right to one vote at the Company's general meeting.

The 678 108 offer shares from the subsequent offering have been fully paid up and the associated share capital was duly registered in the Register of Business Enterprises on 11 August 2016. The new shares are expected to be issued in the VPS and tradeable on Oslo Stock Exchange on or about 12 August 2016. As of the date of this Information Document, the Company holds 1 914 treasury shares.

4.5.2 Shareholders

As per 8 August 2016 the Company had 2 872 shareholders, out of which 94 are foreign. The foreign shareholders represent an ownership of 4.87 % of the total share capital. The table below shows the 20 largest shareholders in the Company as registered in the VPS 4 August 2016 but with an addition of the new shares resulting from the Private Placement announced on 9 March 2016 and from the subsequent offering announced on 5 July 2016.

Shareholder	Number of Shares	Share %	Country
Middelborg Invest AS	4,508,041	31.66%	NOR
MP Pensjon PK	858,286	6.03%	NOR
Vinterstua AS	779,543	5.47%	NOR
Petroleum Invest	485,704	3.41%	NOR
Stromland Sivert Notsund	380,090	2.67%	NOR
Tigerstaden AS	278,713	1.96%	NOR
Fres AS c/o DNB Luxenbur	270,308	1.90%	NOR
Nordnet Bank AB	233,988	1.64%	SWE
Kharybdis AS	179,055	1.26%	NOR
Hagen Invest AS	160,830	1.13%	NOR
Nova Super AS	188,039	1.32%	NOR
SO Invest AS	163,834	1.15%	NOR
Nordnet Livforsikring	161,106	1.13%	NOR
Carmelina AS	122,178	0.86%	NOR
K Value Holding AS	106,956	0.75%	NOR
Nilsen Espen	110,000	0.77%	NOR
Delray Trading AS	100,000	0.70%	NOR
Haugerud Ottar	100,000	0.70%	NOR
Hofstad Steinar	117,523	0.83%	NOR
Julianus As	107,040	0.75%	NOR
SUM 20 Largest	9,411,234	66.09%

The following shareholders owned more than 5% of the issued share capital in the Company, as registered in VPS, on 8 August 2016 but with an addition of the new shares resulting from the Private Placement announced on 9 March 2016 and from the subsequent offering announced on 5 July 2016: Middelborg Invest AS (4 508 041 shares, representing 31.66% of total share capital),MP Pension PK (858 286 shares, representing 6.03% of the total share capital) and Vinterstua AS (779 543 shares, representing 5.47% of the total share capital).

As far as the Company is aware, there is no other natural or legal person other than the above mentioned, which directly or indirectly has a shareholding in the Company above 5%, which is noticeable under Norwegian law. Shareholders with ownership exceeding 5 per cent must comply with disclosure obligations according to the Norwegian Securities Trading Act section 4.3.

4.6 Business description

Prior to the sale of Birdstep AB, the Company was a global provider of Smart Mobile Data for operators and OEM's (Original Equipment Manufacturer). The Smart Mobile Data services (the "SMD business segment"), offer advanced solutions for data offload & intelligent network selection, support automation and end user communication.

The Company was focusing on three key areas of rapidly expanding mobile data services in the cellular market. These were; intelligent data between cellular and Wi-Fi, intelligent marketing capabilities and smart data analytics.

The table below shows selected financial information for the Company group, SMD business segment for 2015, 2014 and 2013 by geographic market, which have been extracted without material adjustment from the Company's audited annual reports for 2015, 2014 and 2013 which may be found at the Company's website, www.techstep.no and which are incorporated by reference to this Information Document (see section 8.2). 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 2015, 2014 and 2013.

Geo.	2015	2014	2013
USA	52 844		44,542
Europe 3 025		3,013	7,136
Middle	-
East/Africa		-	133
Asia	541	-	-

Total	56 410	51,482	51,811

(operational revenue in thousands of NOK)

After the sale of Birdstep AB and up to the date of this Information Document, the Company has not pursued any revenue generating business activity. However, the Company has with the above described contemplated transactions, developed alternative strategies to create values for its shareholders. Some of those proposed strategies were made public in a more detailed stock exchange announcement on March 9 2016, and is now further described in Section 3.4.1.

4.7 Strategy and vision

Mobile devices are playing an increasingly important role in our daily lives. At the same time, the mobility and communications market is undergoing disruptive shifts where the value proposition is changing from telecoms' connectivity towards a fragmented ecosystem of digital solutions and service providers. The acquisition of Zono and the agreement in principle with Teki Gruppen to acquire an additional 53.94% of the shares in Teki Solutions supports Techstep's strategy to build on its background in mobile technology to establish a leading mobility and communications service, software and products provider.

On the revenue side, Techstep's strategy can be summarised in five key steps across the two axes of increasing the number of end users and increasing average revenue per user:

A. Address further organic opportunities to extend customer & end user base. One of Teki Solution's key value attributes is considered to be its close relationship with 3 600 companies and 220 000 end users. This provides a foundation that Techstep plans to create further leverage on an increase of average revenue per user ("ARPU"), which was approximately NOK 210 per month in the first half of 2016. Techstep will target opportunities to increase the customer and end user base further through organic growth by acquiring new customers and increasing its share of wallet within the existing customer base. Based on analyses of the top 30 customers in 2015, the share of end users reached within the existing customer base was less than 50%¹³. Increasing this share of wallet is an example of such an initiative.
B. Development of new solutions and services. Techstep and Teki Solutions customers are to an increasing extent demanding additional mobility and communication services and solutions, which in addition to hardware will contribute to increase the ARPU¹⁴. Within Teki Solutions, such services and solutions are primarily provided within the SmartWorks brand. SmartWorks continuously invest in developing its offering and delivery capacity and currently has a range of solutions under development that will be launched in 2016 and 2017. An example of this is "Video-as-a-service" –adding a high quality video communication platform as a fully integrated module to its communication platform.
C. Assist customers in mobility and communication transformation by increasing scope of services within existing Enterprise Mobility Management platform. The majority of Teki Solutions' customer base does not use the Enterprise Mobility Management platform or similar platforms provided by other companies¹⁵. There should therefore be ample opportunity to increase revenues by offering solutions and services to more of its customers. This has been the primary driver of Teki Solutions growth of service revenues from NOK 21 million in 2013 to NOK 71 million in 2015¹⁶. Techstep's former "HetNet" technology, which was acquired by Smith Micro Software, Inc. through its purchase of Birdstep AB, is an example of a solution offered by Teki Solutions through its current customer base that Techstep will aim to increase its sale of through its partnership with Smith Micro.
D. Acquire niche service and solution players ("vertical acquisitions"). The Company sees a large number of niche providers of services and solutions, some of which are used as sub-suppliers of Teki Solutions today. Techstep will target acquisition opportunities that can add further ARPU and/or margins to its offering (not limited to current Teki Solutions sub-suppliers).

¹³ Source: Teki Solutions Management. Not public information

¹⁴ Source: Techstep and Teki Solutions management. Not public information

¹⁵ Source: Teki Solutions Management estimates. Not public information

¹⁶ Source: Teki Solutions Management estimates. Not public information

E. Structural growth through mergers and acquisitions of competitors and peers to strengthen position within specific geographies and/or segments ("horizontal acquisitions"). The agreement in principle with Teki Gruppen AS falls into this category. Techstep believes that there are several additional such structural opportunities. In addition to creating a foundation to leverage ARPU increase, Techstep believes there to be extensive efficiency gains from cost synergies in such opportunities.

Figure 3: Figure illustrating the Company's revenue drivers and strategy along two axes. (X-axis: # of end users,Y-axis: Average revenue per user)

Teki Solutions has proven successful in the first three points, as evident in some of their previous product and solutions deliveries. Listed below are a few customer examples:

The aforementioned delivery to an airline company completely changed the way the pilot's operate. Before Teki Solutions' involvement, every pilot had to carry with them a "flight bag" containing all papers needed before take-off weighing around 44 kg in total. Teki Solution, in collaboration with Telenor, was able to digitalize the operations and now 1,800 pilots get the same information on Ipads, creating significant cost savings for the airline company. The Ipads are fitted with XenMobile and up to 23 different applications, like weather forecasts, flight manuals and fuel order systems which made the "flight bag" obsolete, and the airline company is now unable to fly without the solution. The delivery was so successful that Teki Solutions are currently developing a similar solution the cabin crew, amounting to roughly 3,600 new users.

An important feature that customers emphasize is security, this was of great importance when Nordialog with Smartworks as a subcontractor won the bid to deliver an EMM solution to Statkraft. Working closely with the client, they were able to deliver a solution that offered 3,000 employees secure access from their tablets or phones.
Meny has had delivered Kiosk tablets for 200 different shops in Norway, locking the tablet for the users minimizing support need, ease of use and simplicity to register service status like safe food/allergy lists, HSE registration and deviation management, and ensuring food quality. The number of tablets are going to increase as Meny has concluded that tablets are more cost efficient than a PC client.

The trend in the corporate segment has gone from strict policies from the IT departments to bring your own device (BYOD) and now to what is called "Choose Your Own Device", i.e. letting employees choose from a range of devices but still allow the IT department to be in control of the platform and security. Teki Solutions are more and more offering the terminals as a service, i.e. Hardware as a Service – allowing companies to lease the hardware reducing capex needs and offering users the flexibility they want. Internet of Things (IoT) and beacon technology are areas Teki Solutions predict will be popular in the digitization of companies. It is relevant for many business segments, for instance in retail for advertising purposes (knowing the user and the product) or for shelf replenishment (shelves warn when they need to be refilled). Another area is the health-sector where knowing where critical equipment is located is key to efficiency, or it could be in an industrial context where devices provide measurements or help ensure safety regulations. Teki Solutions are working closely with mobile marketing vendors, network vendors but also integrations and management platform vendors to create the new opportunities including proximity and beacons for a new and smart work life. This, in combination with our already established offerings within EMM/MAM solutions are unique in a market with high digital penetration rates.

Further to the aforementioned revenue growth strategy initiatives, Techstep believes there to be efficiency gain potential resulting in reductions of operational expenditures within Teki Solutions until 2018. Such gains are expected be realized in part through channeling resources from low-growth towards high-growth areas and in part through cost reductions.

The acquisition of Zono will strengthen Techstep's cash position and will be an important tool to finance organic and structural growth. Further to financial resources, the combined competence, network, assets and financial resources of Techstep, Teki Solutions and Middelborg is expected to facilitate this process.

4.8 Trends

Except for this Transaction and the sale of Birdstep AB, the Company has not experienced any significant changes in the financial or trading position of the Company, which has occurred since 31 December 2015.

4.9 Corporate governance

The Company believes that the principles of corporate governance are important in securing shareholder values, a positive and robust corporate culture and a good reputation with the Company's stakeholders.

The Company's principles for corporate governance are primarily based on Norwegian law, regulations by the Oslo stock exchange and the Norwegian Code of Practice for corporate governance published on 30 October, 2014 (the "Code"). The Board of Directors provides a report on the Company's corporate governance in the annual report.

As per this date, the Company complies with the Code with the exception of the deviations as described in the annual report for 2015. The corporate governance description in the annual report for 2015 is incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference").

4.10 Dependency of patents, licenses or specific agreements etc.

The business or profitability of the Company is not dependent upon any material patents or licenses, industrial, commercial or financial contracts or new manufacturing processes.

4.11 Major contracts

There are no major contracts in which the Company or its subsidiaries are a part, and which have been entered during the two last years prior to the date of this Information Document other than contracts entered into within the ordinary course of business.

There are no other contracts (except contracts within the ordinary course of business) entered into by the Company or its subsidiaries, and which include stipulations that provides obligations or rights that are of importance to the Group at the date of this Information Document.

4.12 Legal and arbitration proceedings related to the business

As of the date of this Information Document and during the course of the preceding 12 months, the Group is not and has not been involved in any legal, governmental or arbitration proceedings, which may have, or have had in the recent past, significant effects on the Group's financial position or profitability. Nor is the Group aware of any such proceedings, pending or threatened.

5. HISTORICAL FINANCIAL INFORMATION

5.1 Selected financial information for Techstep Group

The table below shows selected financial information for the Techstep Group as at the dates and for the years indicated, which have been extracted without material adjustment from the Company's audited annual reports for 2015, 2014 and 2013, and from the unaudited consolidated financial statements for the six month periods ended 30 June 2016, all which are incorporated by reference to this Information Document. 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 2015, 2014 and 2013.

	6 months ended 30 June 2016	6 months ended 30 June 2015	2015	2014	2013
- Operating revenue	-	-	56 410	51 482	51 812
- Operating result	-12 326	-5 015	-5 145	-11 006	-2 078
(EBITDA)
- Total assets	36 699	77 831	36 760	84 511	89 463
- Total shareholders	27 365	67 324	24 932	65 991	70 816
equity

Techstep Group key figures (in NOK 1 000):

5.2 Auditing of historical annual information

BDO AS has audited the annual financial statement for Techstep for the financial year 2015, 2014 and 2013. The auditor's reports for the financial years 2015, 2014 and 2013 are incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference").

There is no other information in the Information Document, which has been audited.

6. UNAUDITED PRO FORMA FINANCIAL INFORMATION

6.1 Background to the preparation of unaudited pro forma financial information

Pro forma financial information is required if an acquisition/disposal is considered to be significant for the company. The transactions mentioned in the next paragraphs are considered significant in relation to CESR's (Committee of European Securities Regulators) definition and based on this, pro forma financial information is prepared.

On 1 July 2016, the Company entered into a share exchange agreement with Zono Holding AS, for the acquisition of 100% of the shares in Zono AS. On the same day, the Company entered into an agreement to acquire 54% of the shares in Teki Solutions AS with Teki Gruppen AS. The Company has already issued an information memorandum (21 April 2016) including pro for financial information regarding an agreement entered into on the 8 of March 2016 regarding the sale of shares Birdstep AB. The Zono and Teki Gruppen transactions are transaction whereby the consideration is settled by issuance of Techstep consideration shares. The number of shares issued to the shareholders in these companies (in principle the shareholders In Teki Solutions) will represent a material majority of the total number of shares in the Company after the transaction. Teki Solutions is identified as the acquirer for accounting purposes. Furthermore, the operations of Techstep at the time of the transaction is not considered to represent a business as defined in IFRS 3. The transactions are therefore accounted for as assets acquisitions, with Teki Solutions as the acquiring entity.

6.2 Sources of unaudited pro forma information

The pro forma financial information for the six-month period ended 30 June 2016 has been compiled based on the Interim Financial Information of Techstep, together with the unaudited management accounts of Zono AS and Teki Solutions AS. The 2015 pro forma information has been based on the 2015 IFRS Financial Statements for Techstep ASA, and the audited NGAAP Financial statements for Zono AS and Teki Solutions AS.

6.3 Basis for preparation of the unaudited pro forma financial information

The unaudited pro forma financial information has been prepared in connection with the Zono AS and Teki Gruppen transaction. The unaudited pro forma income statement for 2015 has been compiled to show how the transactions might have impacted the Techstep income statement for 2015, as if the transactions had taken place on 1 January 2015. The unaudited pro forma income statement for the six month period ended 30 June 2016 has been compiled to show how the transactions might have impacted the Techstep income statement for the six month period ending 30. June 2016, as if the transactions had taken place on 1 January 2016. The consolidated balance sheet as of 30 June 2016 is compiled as if the acquisition took place at the balance sheet date.

The unaudited pro forma financial information has been prepared for illustrative purposes only. Because of its nature, the unaudited pro forma financial information addresses a hypothetical situation and, therefore, does not represent the Company's actual financial position or results. The figures are not necessarily indicative of future results of operations or the financial position of the combined Company. In this respect, the reader is cautioned not to place undue reliance on this unaudited pro forma condensed financial information.

Selected financial information is available in Section 5.1 "Selected financial information for Techstep Group".

The accounting principles applied for the Techstep group are in accordance with those accounting principles outlined in note 1 to the Techstep group's annual financial statements for 2015, incorporated by reference to this Information Document, see Section 8.2 "Incorporation by reference". The unaudited pro forma condensed consolidated financial information for the Techstep group does not include all information required for financial statements under IFRS, and should be read in conjunction with the historical information for Techstep. The pro forma figures have been prepared by using the same accounting principles as for 2015.

The unaudited pro forma condensed financial information is based on the audited historical financial information of the Techstep group adjusted for the sale of Birdstep AB and the Transaction, see Section 3 "The Transaction".

6.4 Unaudited pro forma condensed financial information – income statement for the twelve months ending 31 December 2015.

	Notes	Techstep ASA 2015 (audited)	Zono AS Local GAAP (audited)	Teki Solutions AS Local GAAP (audited)	IFRS adjustments Teki transaction	Pro forma adjustments	Pro Forma Techstep ASA
OPERATING REVENUES	1a, 1b	56 410	0	14 967	633 736	-56 410	648 702
Other Income	1 a	-			2 722	0	2 722
REVENUE AND OTHER INCOME		56 410	0	14 967	636 458	-56 410	651 425
Cost of Sales	1a, 1b	(3 721)		-40	-457 761	3 652	-457 871
OPERATING EXPENSES
Salaries and wages	1a, 1b	(35 786)		-13 037	-86 738	32 358	-103 202
Other operating expenses	1a, 1b	(22 048)	-370	-13 131	-54 586	17 909	-72 227
TOTAL OPERATING EXPENSES		(57 834)	-370	-26 169	-141 323	50 267	-175 429
Operating income loss before
depreciation and amortization (EBITDA)		-5 145	-370	-11 242	37 374	-2 491	18 125
Depreciation and amortization	1a, 1b	(6 983)		-41	-49 360	6 983	-49 401
Write down and impairment of intangible assets	1a, 1b	(47 283)		0	0	47 283	0
Operating income loss after
depreciation and amortization (EBIT)		(59 411)	-370	-11 283	-11 986	51 775	-31 276
OTHER INCOME (EXPENSE)
Share of net income in equity-accounted investees	1 a	-		0	-15	0	-15
Interest income, net	1a, 2b	303	564	-2 550	845	-564	-1 401
Other financial items, net	1a, 1b, 2b, 3b	2 997	-859	12 212	-19 722	-1 118	-6 490
OTHER INCOME, NET		3 300	-295	9 663	-18 891	-1 682	-7 906
INCOME(LOSS) FROM
CONTINUING OPERATIONS BEFORE TAXES		(56 111)	-666	-1 620	-30 877	50 093	-39 182
Income taxes	1a, 1b	160	0	387	9 847	18	10 412
INCOME(LOSS) FROM CONTINUING OPERATIONS		(55 952)	-666	-1 233	-21 030	50 111	-28 769
Profit for the year from discontinued operations	1 b	12 864	0	0	0	-19 592	-6 729
NET INCOME(LOSS)		(43 088)	-666	-1 233	-21 030	30 519	-35 498

6.4.1 Notes to the unaudited pro forma financial information

If not commented on, all financial information in the notes are presented in million nok.

Notes to the IFRS conversion of Teki Solutions AS

Note 1a Consolidation of subsidiaries

IFRS adjustments Teki Solutions AS. Teki Solutions AS has not prepared consolidated financial statements under NGAAP. The IFRS adjustment consists of the consolidation of the subsidiaries. Business combinations is included based on a preliminary purchase price allocation. In the preliminary purchase price allocation customers relations is identified as a significant asset. 50% of the excess value is allocated to customers relations. The customer relations asset is amortized over a period of 5 years. The remaining excess values are included in goodwill.

	Teki	Nordialog	Netconnect	SmartWorks		Teki solutions
	Solutions AS	Oslo	AS		AS Elimination	IFRS
	(audited)	(unaudited)	(audited)	(audited)	(unaudited)	(unaudited)
OPERATING REVENUES	14 967	599 614		48 309	-14 187	648 702
Other Income		2 669		54		2 722
REVENUE AND OTHER INCOME	14 967	602 283		48 362	-14 187	651 425
Cost of Sales	-40	-442 327		-29 621	14 187	-457 801
OPERATING EXPENSES
Salaries and wages	-13 037	-71 204		-15 533		-99 775
Other operating expenses	-13 131	-51 386	-176	-3 024		-67 717
TOTAL OPERATING EXPENSES	-26 169	-122 590	-176	-18 558		-167 492
Operating income loss before
depreciation and amortization (EBITDA)	-11 242	37 366	-176	184		26 132
Depreciation and amortization	-41	-42 035			-7 290	-49 366
Write down and impairment of intangible assets		-35				-35
Operating income loss after
depreciation and amortization (EBIT)	-11 283	-4 704	-176	184	-7 290	-23 269
OTHER INCOME (EXPENSE)
Income from investments in subsidiaries	15 471				-15 471
Share of net income in equity-accounted investees					15	15
Interest income, net	-2 550	812	222	-188		-1 704
Other financial items, net	-3 258	-4 534		282		-7 510
OTHER INCOME, NET	9 663	-3 722	222	94	-15 456	-9 199
INCOME(LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES	-1 620	-8 426	46	278	-22 746	-32 468
Income taxes	387	-8 727		-196	4 177	-4 359
INCOME(LOSS) FROM CONTINUING OPERATIONS	-1 233	-17 153	46	82	-18 569	-36 827
Profit for the year from discontinued operations
NET INCOME(LOSS)	-1 233	-17 153	46	82	-18 569	-36 827

In 2015 the subsidiary Nordialog Oslo had several own subsidiaries. The subsidiaries in Nordialog Oslo were merged with Nordialog Oslo as of 1 January 2016.

			NORDIALOG		NORDIALOG	TELECOM	NORDIALOG
	NORDIALOG	NORDIALOG	VG	NORDIALOG	GARDERMOEN	FORNEBU	TØNSBERG	BUSKERUD	Scancom	Mobilbutikk	Selectit		Nordialog
	OSLO AS	SKØYEN AS	PASSASJEN AS	SKI AS	AS	AS	AS	MOBIL AS	AS	en AS		AS Elimination	Oslo Group
Nordialog Oslo 2015

OPERATING REVENUES	294 268	95 083	33 336	39 428	10 947	23 259	30 188	18 932	41 391		12 782		599 614
Other Income	2 538	3 7		3			5	2	3 4	5 0			2 669
REVENUE AND OTHER INCOME	296 806	95 121	33 336	39 430	10 947	23 259	30 193	18 934	41 425	50	12 782		602 283

Cost of Sales	-221 391	-70 033	-24 434	-27 765	-7 712	-20 052	-20 957	-14 574	-29 055		-6 353		-442 327
OPERATING EXPENSES
Salaries and wages	-26 924	-11 169	-3 941	-5 506	-2 095	-1 125	-5 257	-2 999	-7 204		-4 985		-71 204
Other operating expenses	-25 855	-5 311	-2 003	-2 675	-1 130	-1 781	-3 126	-2 720	-5 072	-39	-1 675		-51 386
TOTAL OPERATING EXPENSES	-52 779	-16 480	-5 944	-8 180	-3 225	-2 906	-8 383	-5 719	-12 276	-39	-6 660		-122 590
Operating income loss before
depreciation and amortization	22 635	8 608	2 959	3 485	1 0	301	853	-1 359	9 4	1 1	-231		37 366
Depreciation and amortization	-3 994	-176	-76	- 9		-1 460	-62	-1 789	-324		-61	-34 119	-42 070
Operating income loss after
depreciation and amortization	18 641	8 432	2 883	3 476	1 0	-1 159	791	-3 147	-229	1 1	-292	-34 119	-4 704

Net financial income	12 966	485	154	175	6	-56	81	-157	-402	4	-231	-16 797	-3 772
INCOME(LOSS) BEFORE TAXES	31 656	8 917	3 037	3 650	16	-1 215	872	-3 305	-631	15	-523	-50 916	-8 426
Income taxes	8 727	2 446		980	4		280		136	4	-129	-3 721	8 727
INCOME(LOSS)	22 929	6 471	3 037	2 670	12	-1 215	592	-3 305	-767	11	-394	-47 195	-17 153

Notes to the pro forma adjustments

Note 1b Sale of Birdstep Technology AB and the closing down of Birdstep Technology Inc.

During the first half of 2016 Techstep sold Birdstep Technology AB and closed dawn the operations of Birdstep Technology Inc. As a pro forma adjustment to the 2015 financial statements the following adjustments are made. The adjustments is identical to the adjustments for presenting these operations as discontinued in the comparative figures for the interim report ending 30 June 2016. The adjustments are expected to not have continuing impact.

	Birdstep	Birdstep	Sale of BT
	Technology	Technology	AB and
	AB actual	Inc	liquidation
	SGAAP		of BT Inc	Total
	(audited)	(unaudited)
OPERATING REVENUES	-56 410	0	0	-56 410
REVENUE AND OTHER INCOME	-56 410	0	0	-56 410
Cost of Sales	1 989	1 663	0	3 652
OPERATING EXPENSES
Salaries and wages	17 941	14 417	0	32 358
Other operating expenses	14 679	3 230	0	17 909
TOTAL OPERATING EXPENSES	32 620	17 647	0	50 267
Operating income loss before
depreciation and amortization (EBITDA)	-21 800	19 310	0	-2 490
Depreciation and amortization	6 022	961	0	6 983
Write down and impairment of intangible assets	34 495	12 788	0	47 283
Operating income loss after
depreciation and amortization (EBIT)	18 717	33 059	0	51 776
Net fincial item	-2 192	-913	0	-3 105
INCOME(LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES	16 525	32 146	0	48 671
Income taxes	0	18	0	18
INCOME(LOSS) FROM CONTINUING OPERATIONS	16 525	32 164	0	48 689
Profit for the year from discontinued operations	0	0	-19 592	-19 592
NET INCOME(LOSS)	16 525	32 164	-19 592	29 096

Note 2b Pro forma adjustments of financial items Zono AS

Zono AS has an interest bearing receivable against Teki Solutions AS, and interest bearing debt to shareholders. After the transactions Zono AS and Teki Solutions will be part of the same group. Interest income of 0.56 million is therefore eliminated. The shareholder loans are settled as part of the transactions. Interest expense of 0.65 million is therefore removed in the pro forma adjustments. The adjustments are expected to have continuing impact.

Note 3b Pro forma adjustments of financial items Teki Solutions AS

Zono AS has an interest bearing receivable against Teki Solutions AS. After the transactions Zono AS and Teki Solutions will be part of the same group. Interest expense of 0.56 million is therefore eliminated. Teki Solutions as a shareholder loan from Teki Gruppen. This loan will be settled as part of the transaction. The related interest expense of 0.77 million is therefore removed in the pro forma adjustments. The adjustments are expected to have continuing impact.

6.4.2 Independent assurance report on unaudited pro forma financial information

The Company's auditor, BDO AS, with organisation number 993606650, and with address Munkedamsveien 45, 0250 Oslo, Norway, have issued an independent assurance report on the unaudited pro forma financial information. See appendix 1.

6.5 Unaudited pro forma condensed financial information 2016

6.5.1 Unaudited pro forma condensed financial information 2016 – income statement for the six months ending 30 June 2016

	Notes	Techstep ASA Q2 2016	Zono AS NGAAP	Teki Solutions AS NGAAP	IFRS adjustment Teki transaction	Pro Forma adjustments	Pro Forma Techstep ASA
		(unaudited)	(unaudited)	(unaudited)
OPERATING REVENUES	1 a	-	0	7 493	269 046	0	276 539
Other Income	1 a	-	0	73	344	0	417
REVENUE AND OTHER INCOME		-	0	7 566	269 390	0	276 956
Cost of Sales	1 a	-		-155	-193 188		-193 344
OPERATING EXPENSES
Salaries and wages	1 a	(8 530)		-8 357	-41 046	0	-57 933
Other operating expenses	1 a	(3 796)	-193	-5 984	-21 667	0	-31 640
TOTAL OPERATING EXPENSES		(12 326)	-193	-14 341	-62 713	0	-89 573
Operating income loss before
depreciation and amortization (EBITDA)		-12 326	-193	-6 930	13 489	0	-5 961
Depreciation and amortization	1 a	-		-28	-24 413	0	-24 441
Write down and impairment of int. assets		-		0	0	0	0
Operating income loss after
depreciation and amortization (EBIT)		(12 326)	-193	-6 959	-10 924	0	-30 401
OTHER INCOME (EXPENSE)
Share of net income in equity-accounted inv.	1 a	-		0	-105	0	-105
Interest income, net	1 a	7 8	67	-715	-1 539	0	-2 108
Other financial items, net	1a, 2b, 3b	(906)	-55 532	- 6	-22	38 095	-18 371
OTHER INCOME, NET		(828)	-55 465	-721	-1 665	38 095	-58 679
INCOME(LOSS) FROM
CONTINUING OPERATIONS BEFORE TAXES		(13 154)	-55 658	-7 679	-12 589	38 095	-50 986
Income taxes	1 a	-	0	0	6 007	0	6 007
INCOME(LOSS) FROM CONTINUING OPERATIONS		(13 154)	-55 658	-7 679	-6 582	38 095	-44 979
Profit for the year from discontinued operations	1 b	25 277		0	0	2 228	27 505
NET INCOME(LOSS)		12 123	-55 658	-7 679	-6 582	40 323	-17 474

6.5.2 Unaudited pro forma condensed financial information – balance sheet as of 30 June 2016

	Notes	Techstep ASA actual IFRS (unaudited)	Local GAAP (unaudited)	Zono Teki Solutions AS IFRS adjustments (unaudited)	Local GAAP Teki transaction	Pro Forma adjustments	Pro Forma Techstep ASA
NON-CURRENT ASSETS:
Deferred tax asset	1a	0	0	1 069	1 335		2 404
Intangible assets	1a	0	0	0	362 014		362 014
Tangible assets	1a	0	0	149	3 090		3 240
Equity-accounted investees	1a	0	0	0	14 519		14 519
Other non-current assets	1a, 2b	0	60 836	363 451	-357 548	-38 446	28 293
TOTAL NON-CURRENT ASSETS		0	60 836	364 670	23 411	-38 446	410 470
CURRENT ASSETS:
Inventories	1a	0	0	0	25 642		25 642
Accounts receivable	1a	0	0	2 382	53 101		55 483
Other current assets	1a	446	0	19 285	-13 031		6 700
Assets held for sale		0	0	0	0		0
Restricted cash		0	0	0	0		0
Cash & cash equivalents	1a	36 224	5	692	3 112		40 032
TOTAL CURRENT ASSETS		36 670	5	22 358	68 825	0	127 857
TOTAL ASSETS		36 670	60 841	387 027	92 235	-38 446	538 326

SHAREHOLDERS' EQUITY:
SHAREHOLDERS' EQUITY		27 364	19 016	234 888	-123 863	134 799	292 202
Noncontrolling interest	1a			51 299	-27 052		24 248
Total Equity		27 364	19 016	286 187	-150 915	134 799	316 450
NON-CURRENT LIABILITIES
Deferred tax liabilities	1a	0	0	0	14 213	0	14 213
Long-term interes bearing debt	1a, 2b, 3b	0	41 646	41 550	131 599	-173 245	41 550
Other liabilities		0	0	0	0	0	0
TOTAL NON-CURRENT LIABILITIES		0	41 646	41 550	145 813	-173 245	55 764
CURRENT LIABILITIES
Bank loans and other short term interest-bearing debt	1a	0	0	0	14 769		14 769
Accounts payable	1a	702	179	420	68 628	0	69 928
Current tax liabilities	1a	0	0	0	4 299	0	4 299
Deferred revenue		0	0	0	0	0	0
Other short-term provisions		0	0	0	0	0	0
Accrued expenses and other liabilities	1a	8 604	0	110 170	-17 410	0	101 364
TOTAL CURRENT LIABILITIES		9 306	179	110 590	70 286	0	190 360
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		36 670	60 841	387 027	92 235	-38 446	538 326

6.5.3 Notes to the unaudited pro forma financial information

If not commented on, all financial information in the notes are presented in million NOK.

Notes to the IFRS conversion of Teki Solutions AS

Note 1a Consolidation of subsidiaries

IFRS adjustments Teki Solutions AS. Teki Solutions AS has not prepared consolidated financial statements under NGAAP. The IFRS adjustment consists of the consolidation of the subsidiaries. Business combinations is included based on a preliminary purchase price allocation. In the preliminary purchase price allocation, customer relations is identified as a significant asset. 50% of the excess value is allocated to customers relations. The customer relations asset is amortized over a period of 5 years. The remaining excess values are included in goodwill.

			Buskerud
	Teki		Mobil AS		Net		Teki
	Solutions	Nordialog	(ND	Smart	connect		solutions
Teki solutions 30.06.2016	AS	Oslo AS	Drammen)	works AS	AS	Elimination	IFRS
		(audited) (audited)	(audited)	(audited)		(audited) (unaudited) (unaudited)
OPERATING REVENUES	7 493	271 199	5 075	24 220		-31 447	276 539
Other Income	73	341	2	1			417
REVENUE AND OTHER INCOME	7 566	271 540	5 076	24 221		-31 447	276 956
Cost of Sales	-155	-204 096	-3 516	-10 876		25 300	-193 344
OPERATING EXPENSES
Salaries and wages	-8 357	-28 950	-848	-11 248			-49 403
Other operating expenses	-5 984	-22 236	-1 244	-4 158	-176	6 147	-27 651
TOTAL OPERATING EXPENSES	-14 341	-51 187	-2 091	-15 406	-176	6 147	-77 054
Operating income loss before
depreciation and amortization	-6 930	16 257	-531	-2 061	-176		6 558
Depreciation and amortization	-28	-8 145	-72			-16 195	-24 441
Operating income loss after
depreciation and amortization	-6 959	8 112	-604	-2 061	-176	-16 195	-17 882

Net financial income	-721	-1 709	-28	-42	222	-105	-2 384
INCOME(LOSS) BEFORE TAXES	-7 679	6 403	-632	-2 103	46	-16 300	-20 266
Income taxes						6 007	6 007
INCOME(LOSS)	-7 679	6 403	-632	-2 103	46	-10 293	-14 259

			Buskerud
			Mobil AS				Teki
	Teki Solutions	Nordialog	(ND	Smart-works	Net-connect		Solutions
	AS	Oslo AS	Drammen)	AS	AS	Eliminations	IFRS
NON-CURRENT ASSETS:	(audited)	(audited)	(audited)	(audited)	(audited)	(unaudited)	(unaudited)
Deferred tax asset	1 069	1 334		1			2 404
Intangible assets		59 854				302 160	362 014
Tangible assets	149	2 879		211			3 240
Equity-accounted investees						14 519	14 519
Other non-current assets	363 451	15 624	2 447	104		-375 722	5 903
TOTAL NON-CURRENT ASSETS	364 670	79 692	2 447	316		-59 043	388 080
CURRENT ASSETS:
Inventories		10 716	145	14 781			25 642
Accounts receivable	2 382	24 906	1 254	26 756		185	55 483
Other current assets	18 213	92 564	5 898	14 101	13 188	-137 710	6 254
Cash & cash equivalents	692	2 295	42	671	44	61	3 804
TOTAL CURRENT ASSETS	21 286	130 480	7 339	56 309	13 232	-137 464	91 182
TOTAL ASSETS	385 955	210 172	9 786	56 625	13 232	-196 507	479 263
SHAREHOLDERS' EQUITY:
TOTAL SHAREHOLDERS' EQUITY	234 888	-65 788	3 685	6 658	13 226	-81 645	111 024
NON-CURRENT LIABILITIES
Deferred tax liabilities						14 213	14 213
Long-term interes bearing debt	41 550	144 693		3 500		-16 593	173 149
TOTAL NON-CURRENT LIABILITIES	41 550	144 693		3 500		-2 380	187 363
CURRENT LIABILITIES
short term interest-bearing debt	-520	15 453	1 249	-1 413			14 769
Accounts payable	420	65 972	826	1 825	5		69 047
Current tax liabilities	-552	4 299				552	4 299
Accrued expenses and other liabilities	110 170	45 544	4 026	46 054	1	-113 035	92 761
TOTAL CURRENT LIABILITIES	109 518	131 267	6 101	46 467	6	-112 483	180 876
TOTAL LIABILITIES AND EQUITY	385 955	210 172	9 786	56 625	13 232	-196 507	479 263

In 2015 the subsidiary Nordialog Oslo had several own subsidiaries. The subsidiaries in Nordialog Oslo were merged with Nordialog Oslo as of 1 January 2016.

Notes to the pro forma adjustments

Note 1b Sale of Birdstep Technology AB and the closing down of Birdstep Technology Inc.

A total loss of NOK 2.2 million is included in the profit/loss from discontinued operations as a result of the liquidation of Birdstep Technology Inc. The adjustment is expected to not have continuing impact.

Note 2b Pro forma adjustments of financial items Zono AS

In the management report for the first half of 2016 Zono AS has included an impairment of 38.1 million related to the investment in Teki Solutions AS. As both companies are part of the same group after the transactions the impairment is eliminated as a pro forma adjustment. The remaining investment of 10.140 million is eliminated together with a shareholder loan from Zono of 28.3 million. The adjustments are expected to have continuing impact.

Note 3b Pro forma adjustments of financial items Teki Solutions AS

Shareholder loans of a total of 131.6 million will be settled as a result of the transaction. The loan to Zono AS will be to a group company. The loan from Teki Gruppen will be settled in shares. This two items is eliminated as part of the pro forma adjustments for 2016. The adjustments are expected to have continuing impact.

6.6 Independent assurance report on pro forma financial information

BDO AS has issued a report on the pro forma financial information for Techstep included in this Information Document as Annex 1 "Independent assurance report on pro forma financial information".

7. CAPITAL RESOURCES

As at the date of this Information Document, the Company is not subject to any restrictions on the use of capital resources that have materially affected, or could materially affect, directly or indirectly, the Company's operations.

The Company does not have any significant loan obligations and has been funded in the past with capital contributions from shareholders. Before deducting transaction related costs, the gross cash flow effect of the Transaction upon closing is approximately NOK 55 million. Management and the Board believe that this Transaction means that the Company is in a good position going forward. Accordingly, in the opinion of the Company, its working capital is sufficient to cover the Company's present requirements, that is, for at least the 12 months following the date of publication of this Information Document.

7.1 Summarised Consolidated Cash Flow

The Company's consolidated cash flows for the financial years 2015, 2014 and 2013, which have been extracted without material adjustment from the Company's audited annual reports for 2015, 2014 and 2013, which may be found at the Company's website, www.techstep.no and which are incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference" below).

The Company's consolidated cash flows for the six month periods ended 30 June 2016 and 2015, which have been extracted without material adjustment from the Company's unaudited periodical report for Q2 2016, which may be found at the Company's website, www.techstep.no and which are incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference" below).

In NOK 1000	6 months period ended 30 June 2016 unaudited	6 months period ended 30 June 2015 unaudited	2015 audited	2014 audited	2013 audited
Cash flow from operating activities	624	- 9 085	- 14 129	- 398	- 6 772
Cash flow from investing activities	13 021	12 561	11 224	- 8 356	- 6 521
Cash flow from financial activities	7 480	-	-	2 385	19 692
Net change in cash and cash equivalents	21 133	4 161	- 1 618	- 5 623	5 410
Net foreign exchange differences	8	685	1 287	746	- 990
Cash and cash equivalents at the beginning of the period	15 090	16 708	16 708	22 331	16 921
Cash and cash equivalents at the end of the period	36 224	20 869	15 090	16 708	22 331

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 2015, 2014 and 2013.

The Group's cash flow consists of cash flow from operating-, investing- and financing activities. The operating cash flow is primarily affected by variations in net income and working capital. The cash

flow from investing activities consists mainly of investments in fixed and intangible assets and sale of non-core assets. The financing activities consists of capital contributions from shareholders.

Information about funding and treasury policies and objectives, the currencies in which cash and cash equivalents are held, and other information about financial instruments are substantially described in the Company's audited annual reports for the financial years 2015, 2014 and 2013, as well as for the unaudited preliminary report for Q2 2016, which is incorporated by reference to this Information Document (see section 8.2 "Incorporation by reference" below).

8. ADDITIONAL INFORMATION

8.1 Documents on display

Copies of the following documents will during the life of this Information Document be available for inspection at any time during normal business hours on any business day free of charge at the Company's office in Norway:

Techstep ASA c/o Advokatfirma Raeder DA Henrik Ibsens gate 100 0230 Oslo, Norway Telephone: +47 23 27 51 66 Website: www.techstep.no

The Company's Articles of Association;
Memorandum of Incorporation;
The audited financial statements of Birdstep for the three years ended 31 December 2015, 2014 and 2013;

8.2 Documents incorporated by reference

The information incorporated by reference in this Information Document shall be read in connection with the cross reference list set out in the table below. Except as provided in this section, no other information is incorporated by reference into this Information Document.

The Company incorporates its consolidated annual reports for 2015, 2014 and 2013, and auditor's reports issued by the Company's auditor for the financial years 2015, 2014 and 2013, and the description of corporate governance in the annual report for 2015.

[Table, see next page]

Sections in this document	Disclosure requirement following from the Continuing Obligations cf. Commission Regulation (EU) no. 809/2004, Annex 1	Reference document and link	Page (P) in reference document
4.6	6.2	http://techstepsite.wpengine.com/wp content/uploads/2016/04/Birdstep_AnnualRe port_2015.pdf	63
4.6	6.2	http://techstepsite.wpengine.com/wp content/uploads/2015/04/1604_BS_AnnualRe port20141.pdf	76
4.6	6.2	http://techstepsite.wpengine.com/wp content/uploads/2015/03/1088_bs_annualre port2013_single_6k.pdf	75
4.9	16.4	http://techstepsite.wpengine.com/wp content/uploads/2016/04/Birdstep_AnnualRe port_2015.pdf	35
5.1	20.1	http://techstepsite.wpengine.com/wp content/uploads/2016/04/Birdstep_AnnualRe port_2015.pdf	41 – 105
5.1	20.1	http://techstepsite.wpengine.com/wp content/uploads/2015/04/1604_BS_AnnualRe port20141.pdf	53 – 121
5.1	20.1	http://techstepsite.wpengine.com/wp content/uploads/2015/03/1088_bs_annualre port2013_single_6k.pdf	52 – 121
5.1	20.1	http://techstep.no/wp content/uploads/2015/03/TECH_Q2_2016_FI NAL.pdf
5.2	20.4	http://techstepsite.wpengine.com/wp content/uploads/2016/04/Birdstep_AnnualRe port_2015.pdf	104 – 105
5.2	20.4	http://techstepsite.wpengine.com/wp content/uploads/2015/04/1604_BS_AnnualRe port20141.pdf	120 -121
5.2	20.4	http://techstepsite.wpengine.com/wp content/uploads/2015/03/1088_bs_annualre port2013_single_6k.pdf	120 – 121
5.1	20.6	n/a

5.1	20.6	n/a
5.1	20.6	n/a
7.1	10.1	http://techstepsite.wpengine.com/wp content/uploads/2016/04/Birdstep_AnnualRe port_2015.pdf	41, 57 -58
7.1	10.1	http://techstepsite.wpengine.com/wp content/uploads/2015/04/1604_BS_AnnualRe port20141.pdf	60, 70 -71
7.1	10.1	http://techstepsite.wpengine.com/wp content/uploads/2015/03/1088_bs_annualre port2013_single_6k.pdf	60, 70 -71

ANNEX 1: Independent assurance report on pro forma financial information

Tel: +47 23 11 91 00 Fax: +47 23 11 91 01 www.bdo.no

P. O. Box. 1704 Vika Munkedamsveien 45 N-0121 Oslo Norway

To the Board of Directors of Techstep ASA

Independent Assurance Report on the Pro Forma Financial Information

We have completed our assurance engagement to report on the compilation of unaudited pro forma financial information of Techstep ASA (the "company"). The pro forma financial information consists of the unaudited pro forma financial positions as at 30 June 2016, the pro forma statement of comprehensive income for the periods ended 30 June 2016 and 31 December 2015, and related notes as set up in section 6 of the Information Memorandum issued by the Company. The applicable criteria on the basis of which the Company has compiled the pro forma financial information are specified in the EU Regulation No 809/2004 as included in the Norwegian Securities Trading Act.

The pro forma financial information has been compiled by the Company to illustrate the impact of the transaction set out in paragraph 6 on the company's financial position as at 30 June 2016, and the company's financial performance for the periods ended 30 June 2016 and 31 December 2015 as if the transaction had taken place at 1 January 2016 and 1 January 2015, respectively. As part of this process, information about the company's financial position and financial performance has been extracted by the Company from the Company's financial statements for the period ended 31 December 2015, on which an auditor report has been published, and from the company's unaudited interim financial statements for the period ended 30 June 2016.

The Board of Directors' and Management's Responsibility for the Pro Forma Financial Information

The board of Directors' and Management are responsible for compiling the pro forma financial information on the basis of relevant accounting policies described in the Information Memorandum, section 6.

Practitioner's Responsibilities

Our responsibility is to express an opinion, as required by Annex II item 7 of EU Regulation No 809/2004 about whether the pro forma financial information has been compiled, by the Company on the basis of accounting and relevant accounting policies described in the Information Memorandum, section 6.

We conducted our engagement in accordance with International Standard on Assurance Engagements (ISAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus, issued by the International Auditing and Assurance Standards Board. This standard requires that the practitioner comply with ethical requirements and plan and perform procedures to obtain reasonable assurance about whether the Company has compiled, in all material respects, the pro forma financial information on the basis of accounting and relevant accounting policies described in the Information Memorandum, section 6. Our work primarily consisted of comparing the unadjusted financial information with the source documents as described in section 6 of the information document, considering the evidence supporting the adjustments and discussing the Pro Forma Financial Information with management of the Company.

For purposes of this engagement, we are not responsible for updating or reissuing any reports or opinions on any historical financial information used in compiling the pro forma financial information, nor have we, in the course of this engagement, performed an audit or review of the financial information used in compiling the pro forma financial information.

The purpose of pro forma financial information included in a prospectus is solely to illustrate the impact of a significant event or transaction on unadjusted financial information of the entity as if the event had occurred or the transaction had been undertaken at an earlier date selected for purposes of the illustration. Accordingly, we do not provide any assurance that the actual outcome of the event or transaction at 1 st of July 2016 would have been as presented.

A reasonable assurance engagement to report on whether the pro forma financial information has been compiled, in all material respects, on the basis of the applicable criteria involves performing procedures to assess whether the applicable criteria used by the Company in the compilation of the pro forma financial information provide a reasonable basis for presenting the significant effects directly attributable to the event or transaction, and to obtain sufficient appropriate evidence about whether:

The related pro forma adjustments give appropriate effect to those criteria; and
The pro forma financial information reflects the proper application of those adjustments to the unadjusted financial information.
The pro forma financial information has been compiled on a basis consistent with the accounting policies of the Company.

The procedures selected depend on the practitioner's judgment, having regard to the practitioner's understanding of the nature of the company, the event or transaction in respect of which the pro forma financial information has been compiled, and other relevant engagement circumstances.

The engagement also involves evaluating the overall presentation of the pro forma financial information.

We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

In our opinion:

a) The pro forma financial information has been properly compiled on the basis stated in the Information Memorandum, section 6.
b) That basis is consistent with the accounting policies of the company.

This report is issued for the sole purpose of providing assurance on the pro forma financial information included in the Information Memorandum required by Oslo Børs' "Continuing Obligations of Stock Exchange Listed Companies section 3.5.2.6" as set out in the Information Memorandum. No shares or securities are offered or sold pursuant to this Information Memorandum. This report should not be used or relied upon for any purpose other than the Information Memorandum.

Oslo, 12 August 2016 BDO AS

Erik Lie State Authorized Public Accountant (Norway) Inkom Bolagsverket

2016 -03-24

ÅRSREDOVISNING

2015-01-01--2015-12-31

för

Birdstep Technology AB 556598-2690

Årsredovisningen omfattar:	Sida
Förvaltningsberättelse
Resultaträkning	ົ
Balansräkning	3
Rapport över förändring i eget kapital	4
Kassaflödesanalys	5
Noter	$6 - 14$

FASTSTÄLLELSEINTYG

Undertecknad styrelseledamot [alt. verkställande direktör] intygar härmed, dels att denna kopia av årsredovisningen stämmer överens med originalet, dels att resultaträkningen och balansräkningen för företaget har fastställts på årsstämma den 2016-01-21 Arsstämman beslutade att godkänna styrelsens förslag till resultatdisposition.

Stockholm 2016-03-21

Lomie Schilling Verkställande Direktör/Styrelseledamot

Birdstep Technology AB 556598-2690

ÅRSREDOVISNING FÖR BIRDSTEP TECHNOLOGY AB

Styrelsen och verkställande direktören för Birdstep Technology AB avger härmed årsredovisning för räkenskapsåret 2015-01-01--2015-12-31.

FÖRVALTNINGSBERÄTTELSE

Verksamhetens art och inriktning

Birdstep Technology AB är en ledande global leverantör av lösningar för trådlösa förbindelser och tjänster för

Ägarförhållanden

Koncernredovisning upprättas av moderbolaget Birdstep Technology ASA, orgnr 977037093, Postbox 2877

Väsentliga händelser under räkenskapsåret

I Januari 2015 ingick företaget ett avtal med moderbolaget om flytt av kundkontrakt och IPR till Birdstep Technology AB. Köpeskillingen var SEK 210,1 miljoner vilket utfördes genom en apportemission. Genom denna affär blev Birdstep Technolgy AB den operativa enheten i koncernen. Under November månad tappade bolaget den absoluta merparten av intäksbasen när bolagets största kund, Sprint, sade upp SmartSELECT produkten från årskiftet 2015/2016. Till följd av detta initierades kostnadsbesparingar, samt att bolagets finansiella utsikter försämrades drastiskt vilket ledde till en nedskrivning av bolagets samtliga immateriella rättigheter, motsvarande 171,4 MSEK, vid räkenskapsårets slut.

Redovisningsprinciper

Detta är Birdstep Technology ABs andra årsredovisning upprättad enligt BFNAR 2012:1 Årsredovisning ("K3").

Utveckling av verksamhet, ställning och resultat

Bolagets rörelseintäkter var 58,8 (39,4) MSEK vilket var en förbättring med 49,2 procent jämfört med föregående år. Rörelseresultatet var -214,2 (1,6) MSEK vilket är en försämring med 215,8 jämfört med föregående år och årets resultat var -212,2 (-3,0) MSEK, en försämring med 209,2 MSEK. Det försämrade resultatet härrör främst från nedskrivning av immateriella rättigheter. Bolaget hade per balansdagen en kassaposition på 13,4 (7,1) MSEK.

(Tkr) Nettoomsättning	$2015^{(4)}$ 58 815 $-213.916$	$2014^{(4)}$ 39 427 $-3035$	$2013^{(4)}$ 41 578 3 3 6 4	$2012^{(4)}$ 53 523 3 2 3 6	$2011^{(4)}$ 63 2 2 6 2710
Resultat e. finansiella poster Balansomslutning Soliditet ⁽¹⁾ Medelantal anställda	35832 32.3% 28	21 762 66.9% 29	26768 60.8% 33	27 937 54,0% 35	27 142 46,0% 38

(1) Justerat eget kapital / Balansomslutning. Med Justerat eget kapital avses eget kapital + obeskattade reserver med avdrag för uppskjuten skatteskuld.

⁽⁴⁾ Från och med 1 januari 2014 tillämpar företaget BFNAR 2012:1 Årsredovisning och koncernredovisning ("K3").

Tidigare tillämpade företaget Årsredovisningslagen samt Bokföringsnämndens allmänna råd.

fest dy hegye.
Jester 1 pv

Birdstep Technology AB 556598-2690

Väsentliga händelser efter räkenskapsårets utgång

I Mars 2016 lade Smith Micro International Inc ett kontantbud på samtliga aktier i bolaget. Försäljningen är villkorad av godkännande från moderbolagets aktieägare vid en extra bolagsstämma 31 Mars 2016. Smith Micro International Inc är en USA baserad konkurrent som är noterad på Nasdag.

Väsentliga risker och osäkerhetsfaktorer

Birdsteps verksamhet är starkt beroende av investeringsmönster hos sina kunder, och för närvarande råder det en osäkerhet på marknaden. Varje minskning eller försening i investeringar från kunderna innebär minskade intäkter för Birdstep. En betydande del av Birdstep intäkter genererades under 2015 från ett begränsat antal nyckelkunder. Under november 2015 avvecklade bolagets största kund, Sprint, deras SmartSELECT produkt som stod för huvuddelen av intäksmassan 2015. De marknader som Birdstep är verksamma i är mycket konkurrensutsatta och snabbt föränderliga. Birdstep affärsframgångar beror därför på dess förmåga att utveckla nya innovativa produkter på en kontinuerlig bas. Efter en ev. försälining till Smith Micro International Inc kommer bolagets affärsrisk minska betydligt på grund av tillhörigheten i en större och mer finansiellt stabil koncern där bolagets kommer att återgå att vara ett utvecklingscenter och sälja tjänster internt inom koncernen på cost plus basis och därigenom säkra fortsatt drift.

Förväntad framtida utveckling

På grund av rådande osäkerhet på marknaden och kombinationen med den långa säljcykeln av vissa av bolagets produkter gör det svårt att förutse framtiden. Bolaget strävar efter att behålla nyligen förvärvade kundkontrakt och generera nya, framför allt på den växande asiatiska marknaden. Efter en ev, försäljning till Smith Micro International Inc kommer den förväntade utvecklingen att vara stabil som ett utvecklingscenter inom Smith Micro International Inc.

Forskning och utveckling

Från och med Januari 2015 är den operativa enheten i koncernen Birdstep Technology AB och all utveckling i koncernen har skett i bolaget under 2015. Efter den 1 April 2016 kommer bolaget att bedriva forskning och utveckling under Smith Micro International Inc.

Förslag till vinstdisposition (kronor)

Till årsstämmans förfogande står följande vinstmedel.

Överkursfond	210 318 447
Balanserat resultat	11 354 514
Årets resultat	$-212233710$
	9439251
Styrelsen föreslår att
i ny räkning balanseras	9 439 251
	9439251

Beträffande företagets resultat och ställning i övrigt hänvisas till efterföljande resultat-och balansräkningar, rapporter över förändringar i eget kapital, kassaflödesanalyser samt noter. Alla belopp uttrycks i tusentals svenska kronor där ej annat anges.

Värdeöverföringar

Inga värdeöverföringar enligt ABL17:1 eller ABL 17:3 har skett under året.

Van arts Vils

RESULTATRÄKNING (Tkr)	Not	2015-01-01 2015-12-31	2014-01-01 2014-12-31
Rörelsens intäkter
Nettoomsättning	3,4	58815	39 4 27
Aktiverat arbete för egen räkning		3413	0
Övriga rörelseintäkter		633	Ð
		62861	39 4 27
Rörelsens kostnader
Övriga externa kostnader	5	$-39427$	$-12090$
Personalkostnader	6	$-23113$	$-25720$
Avskrivningar och nedskrivningar av materiella och
immateriella anläggningstillgångar	$\overline{7}$	$-213897$	-62
Rörelseresultat		$-213576$	1555
Resultat från finansiella investeringar
Övriga ränteintäkter och liknande intäkter	8	5	7
Räntekostnader och liknande kostnader	9	$-345$	$-4597$
Resultat efter finansiella poster		$-213916$	-3 036
Bokslutsdispositioner
Förändring av periodiseringsfond	10	1682
Resultat före skatt		$-212234$	$-3036$
Andra skatter		0
Skatt på årets resultat	11	0
ÅRETS RESULTAT		$-212234$	$-3036$

Omer Wife

$\ddot{\phantom{a}}$

Birdstep Technology AB
666598-2690

BALANSRÄKNING (Tkr)	Not	2015-12-31	2014-12-31
TILLGANGAR
Anläggningstlilgångar
immateriella anläggningstillgångar Balanserade utgifter för utvecklingsarbeten och liknande	12	0	0
arbeten Koncessioner, patent, licenser, varumärken samt liknande			٥
rälligheler Materiella anläggningstillgångar	13	0
Maskiner och andra tekniska anläggningar Inventarier, verktyg och installationer	14 15	91 175	125 228
		266 266	353 353
Summa anläggningstillgångar
Omsättningstillgångar
Kortfristiga fordringar		19388	0
Kundfordringar Fordringar hos koncernförstag	16	O	10815
Aktuella skattefordringar		1507	1507
Övriga fordringar		646	1 279
Förutbetalda kostnader och upplupna intäkter	17	620	708
		22161	14 307
Kassa och bank		13406	7102
Summa omsättningstlilgångar		35 566	21 409
SUMMA TILLGANGAR		36832	21762
BALANSRÄKNING	Not	2015-12-31	2014-12-31

EGET KAPITAL OCH SKULDER
Eget kapital Bundet eget kapital
Aktiekapital (50 143 429 aktier)		751	601
Reserviond		1387	1387
		2 138	1808
Fritt eget kapital		210318	o
Överkurstond		11356	14390
Bafanserad vinst eller förlust Arəts resultat		$-212234$	-3035
		9440	11 356
Summa eget kapital		11 678	13 243
Obeskattade reserver
Avsätining Periodiseringsfond	າຍ	0	1682 1682
Kortfristiga skulder
Leverantörsskulder		1143	2142
Skulder till koncernföretag		13320	0
Övriga korlfristiga skulder		779	866
Upplupna kostnader och förulbetalda intäkter	19	9012	3829
		24 254	6837
SUMMA EGET KAPITAL OCH SKULDER		35832	21 762
POSTER INOM LINJEN
Ställda säkerheter		Inga	Inga
Ansvarsförbindelser		Inga	Inga

Sport of the

$\bar{z}$

RAPPORT ÖVER
FÖRÄNDRING I EGET KAPITAL

$(Tkr)$

	Bundet eget kapital			Fritt eget kapital
Not	Aktie- kapitai	Reserv- fond	Överkurs- fond	Balanserad vinst eller förlust	Arets resultat	Summa eget kapital
Ingående balans per 1 januari 2014	501	1387	0	12421	1969	16 278
Resultatdisposition enl beslut av årsstämma				1969	$-1969$	0
Arets resultat					$-3035$	$-3035$
Utgående balans per 31 december 2014	501	1387	0	14 390	$-3035$	13 24 3

Aktlekapital 50 143 429 aktier á kvotvärde 0,01 kronor.

Varav stamaktler; 15 521 933 st á 0,01 kronor.

Varav preferensaktier: 34 621 496 st á 0,01 kronor.

		Fritt eget kapital Bundet eget kapital
$\overline{a}$ Not	Aktle- kapital	Reserv- fond	Överkurs- fond	Balanserad vinst eller förlust	Årets resultal	Summa eget kapital
Ingående balans per 1 januari 2015 Resultatdisposition enl beslut av årsstämma	501	1 3 8 7	0	14 390 $-3035$	$-3035$ 3035	13 243 $\mathbf{0}$
Arets resultat Emission	250		210318		$-212234$	$-212234$ 210 568
Emission - överkursfond Utgående balans per 31 december 2015	751	1 387	210318	11 355	-212 234	0 11577

Aktiekapital 75 143 429 aktier á kvolvärde 0,01 kronor. Varav stamaktier: 40 521 933 st å 0,01 kronor. Varav preferensaktier: 34 621 496 st á 0,01 kronor.

2016040405587

$\frac{1}{556598 - 2690}$

$\overline{\phantom{a}}$

KASSAFLÖDESANALYS (Tkr)	2015-01-01 2015-12-31	2014-01-01 2014-12-31
Den löpande verksamheten
Rörelseresultat	$-214209$	$-3035$
Justeringar för poster som inte ingår i kassaflödet:
Avskrivningar	42 502	62
Nedskrivning	171 395	0
Valutakursvinst	322	0
Erhållen ränta	5	0 $\mathbf 0$
Erlagd ränta	$-4$
Betald inkomstskatt	$-30$	$-392$
Kassaflöde från den löpande verksamheten före förändringar av rörelsekapital	-19	$-3,365$
Kassaflöde från förändringar i rörelsekapital
Minskning(+)/ökning(-) av Koncernskulder	13 3 20	0
Minskning(+)/ökning(-) av kundfordringar	$-19.388$ 1410	0 314
Minskning(+)/ökning(-) av övriga kortfristiga fordringar	$-999$	242
Minskning(-)/ökning(+) leverantörsskulder Minskning(-)/ökning(+) av övriga kortfristiga skulder	4577	$-2212$
Kassaflöde från den löpande verksamheten	$-1099$	$-5021$
Investeringsverksamheten
Aktivering utveckling	$-3413$	0 $-261$
Förvärv av materiella anläggningstillgångar	0 10815	11758
Återbetalning Koncerniån
Kassaflöde från investeringsverksamheten	7402	11497
Arets kassaflöde	6303	6476
Likvida medel vid årets början Kursdifferens i likvida medel	7 102	626
Likvida medel vid årets slut	13 4 05	7 102

Region d

Birdstep Technology AB 556598-2690

Not 1 Allmän Information

Birdstep Technology AB med organisationsnummer 556598-2690 är ett aktiebolag registrerat i Sverige med säte i Stockholm. Adressen till huvudkontoret är Häsingegatan 32, 11343 Stockholm.

Moderföretag i koncernen är Birdstep Technology ASA, org.nr. 977037093, med säte i Oslo. Det utländska moderföretagets koncernredovisning kan erhallas från www.birdstep.com.

Not 2 Redovlsningsprinciper och värderingsprinciper

Företaget tillämpar Årsredovisningslagen (1995:1554) och Bokföringsnämndens allmänna råd BFNAR 2012:1 Arsredovisning och koncernredovisning ("K3").

Infäkter

Intäkter redovisas till det verkliga värdet av den ersättning som erhållits eller kommer att erhållas, med avdrag för mervärdeskatt, rabatter, returer och liknande avdrag.

Bolagets intäkter bestog under 2014 i huvudsak av ersättning från moderbolaget enligt cost-plus modellen samt ersättning för utförda utvecklingstjänster. Intäkt redovisas i samma period som kostnaden uppstår.

Under 2015 utgörs företagets intäckter av extern försäljning.

Försälining av Licenser

Licenser säljs till återförsäljare i förväg för en förväntad framtida användning och bokförs som intäkt vid datum för leverans. Någon köpt licens är inte återbetalningsbar och det finns ingen ouppfylld förpliktelse som kan påverka återförsällare godtagandet av Ilcenserna.

Support & underhåll och hosting och andra tjänster

Redovisas linjärt över tiden.

Utdelning och ränteintäkter

Utdelningsintäkter redovisas när ägarens rätt att erhålla betalning har fastställts.

Leasingavtal

Ett finanslellt leasingavtal är ett avtal enligt vilket de ekonomiska risker och fördelar som förknippas med ägandet av en tillgång i allt väsentligt överförs från leasegivaren till leasetagaren. Övriga leasingavtal klassificeras som operationella leasingavtal. Samtliga leasingavtal redovisas enligt reglerna för operationell leasing.

Leasetagare

Leasingavgifter vid operationella leasingavtal kostnadsförs linjärt över leasingperioden, såvida inte ett annat systematiskt sätt bättre återspeglar användarens ekonomiska nytta över tiden.

Utländsk valuta

Företagets redovisningsvaluta är svenska kronor (SEK).

Omräkning av poster i utländsk valuta

Vid varje balansdag räknas monetära poster i utländsk valuta om till balansdagens kurs. Icke-monetära poster, som värderas till historiskt anskaffningsvärde i en utländsk valuta, räknas inte om. Valutakursdifferenser redovisas i rörelseresultatet eller som finansiell post utifrån den underliggande affärshändelsen, i den period de uppstår, med undantag för transaktioner som utgör säkring och som uppfyller villkoren för säkringsredovisning av kassaflöden eller av nettoinvesteringar.

Work Her

Ersättningar till anställda

Ersättningar till anställda i form av löner, bonus, betald semester, betald sjukfrånvaro m m samt pensioner redovisas i takt med intjänandet. Beträffande pensioner och andra ersättningar efter avslutad anställning klassificeras dessa som avgiftsbestämda eller förmånsbestämda pensionsplaner. Företaget har endast avgiftsbestämda pensionsplaner. Det finns inga övriga långfristiga ersättningar till anställda.

Avaittsbestämda planer

För avgiftsbestämda planer betalar företaget fastställda avgifter till en separat oberoende juridisk enhet och har ingen förpliktelse att betala ytterligare avgifter. Företagets resultat belastas för kostnader i takt med att förmånerna intjänas vilket normalt sammanfaller med tidpunkten för när premier erläggs.

Inkomstskatter

Skattekostnaden utgörs av summan av aktuell skatt och uppskjuten skatt.

Aktuell skatt

Aktuell skatt beräknas på det skattepliktiga resultatet för perioden. Skattepliktigt resultat skiljer sig från det redovisade resultatet i resultaträkningen då det har justerats för ej skattepliktiga Intäkter och ej avdragsgilla kostnader samt för intäkter och kostnader som är skattepliktiga eller avdragsgilla i andra perioder. Aktuell skatteskuld beräknas enligt de skattesatser som gäller per balansdagen.

Uppskjuten skatt

Uppskjuten skatt redovisas på temporära skillnader mellan det redovisade värdet på tillgångar och skulder i de finansiella rapporterna och det skattemässiga värdet som används vid beräkning av skattepliktigt resultat. Uppskjuten skatt redovisas enligt den s k balansräkningsmetoden. Uppskjutna skatteskulder redovisas för i princip alla skattepiliktiga temporära skillnader, och uppskjutna skattefordringar redovisas i princip för alla avdragsgilla temporära skillnader i den omfattning det är sannolikt att beloppen kan utnyttjas mot framtida skattepliktiga överskott. Obeskattade reserver redovisas inklusive uppskjuten skatteskuld.

Det redovisade värdet på uppskjutna skattefordringar omprövas varje balansdag och reduceras till den del det Inte längre är sannolikt att tillräckliga skattepliktiga resultat kommer att finnas tillgängliga för att utnyttjas, helt eller delvis, mot den uppskjutna skattefordran.

Värderingen av uppskjuten skatt baseras på hur företaget, per balansdagen, förväntar sig att återvinna det redovisade värdet för motsvarande tillgång eller reglera det redovisade värdet för motsvarande skuld. Uppskjuten skatt beräknas baserat på de skattesatser och skatteregler som har beslutats före balansdagen.

Aktuell och uppskjuten skatt för perioden

Aktuell och uppskjuten skatt redovisas som en kostnad eller intäkt i resultaträkningen, utom när skatten är hänförlig till transaktioner som redovisats direkt mot eget kapital. I sådana fall ska även skatten redovisas direkt mot eget kapital.

Immaterlella tillgångar

Anskaffning genom separata förvärv

Immateriella tillgångar som förvärvats separat redovisas till anskaffningsvärde med avdrag för ackumulerade avskrivningar och eventuella ackumulerade nedskrivningar. Avskrivning sker linjärt över tillgångens uppskattade nyttjandeperiod, vilken uppskattas till 5 år. Bedömda nyttjandeperioder och avskrivningsmetoder omprövas om det finns en indikation på att dessa har förändrats jämfört med uppskattningen vid föregående balansdag. Effekten av eventuella ändringar i uppskattningar och bedömningar redovisas framåtriktat. Avskrivning påbörjas när tillgången kan användas.

Roppin 19902

Birdstep Technology AB 556598-2690

Anskaffning genom intern upparbetning

Företaget tillämpar aktiveringsmodellen vilket innebär att arbetet med att ta fram en internt upparbetad immateriell anläggningstillgang delas upp i en forskningsfas och en utvecklingsfas. Samtliga utgifter som härrör från företagets forskningsfas redovisas som kostnad när de uppkommer. Samtliga utgifter för utveckling av mjukvara redovisas som en tillgång om samtliga följande villkor är uppfyllda:

· Det är tekniskt möjligt att färdigställa den immateriella anläggningstillgången så att den kan användas eller säljas,

· företaget avsikt är att färdigställa den immateriella anläggningstillgången och att använda eller sälja den,
· det finns förutsättningar för att använda eller sälja den immateriella anläggningstillgången,

· det är sannolikt att den immateriella anläggningstillgången kommer att generera framtida ekonomiska fördelar, · det finns erforderliga och adekvata tekniska, ekonomiska och andra resurser för att fullfölja utvecklingen och för att använda eller sälja den immateriella anläggningstillgången, och

· de utgifter som är hänförliga till den immateriella anläggningstillgången under dess utveckling kan beräknas tillförlitligt.

Efter första redovisningstillfället redovisas internt upparbetade immateriella anläggningstillgångar till anskaffningsvärde efter avdrag för ackumulerade avskrivningar och eventuella ackumulerade nedskrivningar. Avskrivning påbörjas när tillgången kan användas. Aktiverade utgifter för mjukvaruutveckling skrivs av linjärt över en bedömd nyttjandeperiod om 3 år.

Borttagande från balansräkningen

En immateriell anläggningstillgång tas bort från balansräkningen vid utrangering eller avyttring eller när inte några framtida ekonomiska fördelar väntas från användning eller utrangering/avyttring av tillgången. Den vinst eller förlust som uppkommer när en immateriell anläggningstillgång tas bort från balansräkningen är skillnaden mellan vad som eventuellt erhålls, efter avdrag för direkta försäljningskostnader, och tillgångens redovisade värde. Detta redovisas i resultaträkningen som en övrig rörelseintäkt eller övrig rörelsekostnad.

Materiella anläggningstillgångar

Materiella anläggningstillgångar redovisas till anskaffningsvärde efter avdrag för ackumulerade avskrivningar och eventuella nedskrivningar.

Anskaffningsvärdet består av inköpspriset och utgifter som är direkt hänförliga till förvärvet för att bringa den på plats och i skick att användas. Tillkommande utgifter inkluderas endast i tillgången eller redovisas som en separat tillgång, när det är sannolikt att framtida ekonomiska fördelar som är förknippade med posten kommer att tillfalla företaget och att anskaffningsvärdet för densamma kan mätas på ett tillförlitligt sätt. Alla övriga kostnader för reparationer och underhåll samt tillkommande utgifter redovisas i resultaträkningen i den period då de uppkommer.

Avskrivningar på materiella anläggningstillgångar kostnadsförs så att tillgångens anskaffningsvärde, eventuellt minskat med beräknat restvärde vid nyttjandeperiodens slut, skrivs av linjärt över dess bedömda nyttjandeperiod. Avskrivning påbörjas är den materiella anläggningstillgången kan tas i bruk.

Maskiner och andra tekniska anläggningar:
Inventarier	-5 år
Maskiner	5 år

Bedömda nyttjandeperioder och avskrivningsmetoder omprövas om det finns indlikationer på att förväntad förbrukning har förändrats väsentligt jämfört med uppskattningen vid föregående balansdag. Då företaget ändrar bedömning av nyttjandeperioder, omprövas även tillgångens eventuella restvärde. Effekten av dessa ändringar redovisas framåtriktat.

Borttagande från balansräkningen

Det redovisade värdet för en materiell anläggningstillgång tas bort från balansräkningen vid utrangering eller avyttring, eller när inte några framtida ekonomiska fördelar väntas från användning eller utrangering/avyttring av tillgången eller komponenten. Den vinst eller förlust som uppkommer när en materiell anläggningstillgång eller en komponent tas bort från balansräkningen är skillnaden mellan vad som eventuellt erhålls, efter avdrag för direkta försäliningskostnader, och tillgångens redovisade värde. Den realisationsvinst eller realisationsförlust som uppkommer när en materiell anläggningstillgång eller en komponent tas bort från balansräkningen redovisas i resultaträkningen som en övrig rörelseintäkt eller övrig rörelsekostnad.

mongli

Birdstep Technology AB 556598-2690

Nedskrivningar av materiella anläggningstillgångar och immateriella tillgångar

Vid varje balansdag analyserar företaget de redovisade värdena för materiella anläggningstillgångar och immateriella tillgångar för att fastställa om det finns någon indikation på att dessa tillgångar har minskat i värde. Om så är fallet, beräknas tillgångens återvinningsvärde för att kunna fastställa värdet av en eventuell nedskrivning. Där det inte är möjligt att beräkna återvinningsvärdet för en enskild tillgång, beräknas återvinningsvärdet för den kassagenererande enhet till vilken tillgången hör.

Återvinningsvärdet är det högsta av verkligt värde med avdrag för försäljningskostnader och nyttjandevärdet. Verkligt värde med avdrag för försäljningskostnader är det pris som företaget beräknar kunna erhålla vid en försäljning mellan kunniga, av varandra oberoende parter, och som har ett intresse av att transaktionen genomförs, med avdrag för sådana kostnader som är direkt hänförliga till försäljningen. Vid beräkning av nyttjandevärde diskonteras uppskattat framtida kassaflöde till nuvärde med en diskonteringsränta före skatt som återspeglar aktuell marknadsbedömning av pengars tidsvärde och de risker som förknippas med tillgången. För att beräkna de framtida kassaflödena har företaget använt budget och prognoser för de kommande fem åren.

Om återvinningsvärdet för en tillgång fastställs till ett lägre värde än det redovisade värdet, skrivs det redovisade värdet på tillgången ned till återvinningsvärdet. En nedskrivning kostnadsförs omedelbart i resultaträkningen.

Vid varje balansdag gör företaget en bedömning om den tidigare nedskrivningen inte längre är motiverad. Om så är fallet återförs nedskrivningen delvis eller helt. Da en nedskrivning återförs, ökar tillgångens redovisade värde. Det redovisade värdet efter återföring av nedskrivning får inte överskrida det redovisade värde som skulle fastställts om ingen nedskrivning gjorts av tillgången under tidigare år. En återföring av en nedskrivning redovisas direkt i resultaträkningen.

Finansiella instrument

En finansiell tillgång eller finansiell skuld redovisas i balansräkningen när företaget blir part till instrumentets avtalsenliga vilikor. En finansiell tillgång bokas bort från balansräkningen när den avtalsenliga rätten till kassaflödet från tillgången upphör, regleras eller när företaget förlorar kontrollen över den. En finansiell skuld, eller del av finansiell skuld, bokas bort från balansräkningen när den avtalade förpliktelsen fullgörs eller på annat sätt upphör.

Tillgångar och skulder har värderats till anskaffningsvärde om inget annat anges nedan. Vid det första redovisningstillfället värderas omsättningstillgångar och kortfristiga skulder till anskaffningsvärde. Långfristiga fordringar samt långfristiga skulder värderas vid det första redovisningstillfället till upplupet anskaffningsvärde. Låneutgifter periodiseras som en del i lånets räntekostnad enligt effektivräntemetoden (se nedan).

Vid värdering efter det första redovisningstillfället värderas omsättningstillgångar enligt lägsta värdets princip, dvs. det lägsta av anskaffningsvärdet och nettoförsäljningsvärdet på balansdagen. Kortfristiga skulder värderas till nominellt belopp.

Långfristiga fordringar och långfristiga skulder värderas efter det första redovisningstillfället till upplupet anskaffningsvärde.

Likvida medel

Likvida medel inkluderar kassamedel och disponibla tillgodohavanden hos banker och andra kreditinstitut samt andra kortfristiga likvida placeringar som lätt kan omvandlas till kontanter och är föremål för en obetydlig risk för värdefluktuationer. För att klassificeras som likvida medel får löptiden inte överskrida tre månader från tidpunkten för förvärvet.

Uppskattningar och bedömningar

Då bolaget är ett dotterbolag till Birdstep Technology ASA, påverkas bolagets finansiella ställning av koncernens betalningsförnåga i sin helhet. Bedömning har gjorts att koncernens finansiella ställning möjliggjör reglering av interna mellanhavanden.

I Januari 2015 ingick företaget ett avtal med moderbolaget om flytt av kundkontrakt och IPR till Birdstep Technology AB. Ersättningen för flytten var SEK 210,1 miljoner vilket utfördes genom en apportemission. Genom denna affär blir Birdstep Technolgy AB den operativa enheten i koncernen. Under 2015 stod bolaget därför för affärsrisken i koncernen, vilket innebär en skyldighet att pröva värderingen av de anskaffade immateriella tillgångarna löpande och i det fall att verksamheten inte utvecklas enligt plan kan ett nedskrivningsbehov föreligga.

Sman & Ri

2015	2014
	39 427 $\Omega$
58 815	39427
	58815

Not 4 Uppgift om inköp och försäljning inom samma koncern

	2015	2014
Försäljning	0,0%	100,0%
Inköp	54.9%	0.0%

Not 5 Leasingavtal

Birdstep Technology AB
556598-2690

Operationella leasingavtal - leasetagare

Speransnehm reasingar and neasengars
Företaget är leasetagare främst genom operationellt leasingavtal avseende bolagets kontorslokaler på Hälsingegatan 32. Nuvarande hyresavtal förfaller i september 2017.

	$-2015$	2014
Arets leasing kostnad	2470	2453
Förfallotidpunkt:	2015	2014
Inom ett år	2277	2240
Senare än ett år men inom fem år	1530	3116
Summa	3807	5356

Not 6 Antal anställda, löner, andra ersättningar och sociala kostnader

	2015		2014
Medeltalet anställda	Antal anställda	Varav antal män	Antal anställda	Varav antal män
	28	21	29	21
Totalt	28	21	29	21
			2015-12-31	2014-12-31
Fördelning ledande befattningshavare per
balansdagen
Män:			и
styrelseledamöter
andra personer I företagets ledning inkl VD
.			2	2

Totalt

Reporter to Page.

Birdstep Technology AB
556598-2690

$\sim$

	2015		- 72	2014
Löner, andra ersättningar m m	Löner och andra ersättningar	Soc kostnader	Löner och andra ersättningar	Soc kostnader
	15016	5 3 0 6	17 120	7839
Totalt	15016 2015	5306	17 120	7839 2014
Löner och andra ersättningar fördelade mellan styrelse- ledamöter och anställda	Styrelse och VD (varav tantiem och dylikt)	Övriga anställda	Styrelse och VD (varav tantiem och dylikt)	Övriga anställda
	0	15016	0	17 120
Totalt	O	15016	0	17 120

Pensioner

. مستحدد.
Företagets kostnad för avgiftsbestämda pensionsplaner uppgår till 2.481 Tkr (2.036).
*Anställningsavtal för VD är med moderbolaget varför ingen lönekostnad utgår i AB.

Not 7 Avskrivningar och nedskrivningar på materiella och immateriella anläggningstiligångar

	2015	2014
Avskrivning	42 501	62
Nedskrivning	171 396	0
Summa	213 897	62
Not 8 Övriga ränteintäkter och liknande intäkter
	2015	2014
Ränteintäkter	5	7
Kursdifferenser	0	0
Summa	5	7
Inga ränteintäkter till koncernbolag har förkommit under perioden Not 9 Räntekostnader och liknande kostnader
	2015	2014
Räntekostnader	-4	$\Omega$
Kursdifferenser	$-341$	$-4597$
Summa	$-345$	-4 597
Inga räntekostnader till koncernbolag har förkommit under perioden
Not 10 Bokslutsdispositioner
	2015	2014

	.	.
__ ---------- _ . Förändring av periodiseringsfond	682	Ω
--------------------------------------- . Summa	682	ч.

$\ddot{\phantom{a}}$

Novice de Ster

Birdstep Technology AB 556598-2690

Not 11 Skatt på årets resultat

	2015	2014
Aktuell skatt
Uppskjuten skatt		n
Skatt på årets resultat

Avstämning årets skattekostnad

Avstämning årets skattekostnad	tkr
	2015	2014
Redovisat resultat före skatt	$-212234$	-3 036
Skatt beräknad med skattesats 22 %	46 691	668
Skatteeffekt av:
Ei skattepliktiga intäkter		26
El avdragsgilla kostnader	-21	$-27$
Schablonintäkt periodiseringsfond	-2	-6
Övriga ej avdragsgilla kostnader
Skattemässiga underskott för vilka ingen uppskjuten skattefordran redovisats	-46 668	-661
Årets redovisade skattekostnad	٥	0

Då företaget visar ett underskott för 2015 utgår ingen skatt och ej heller redovisas uppskjuten skattefordran på ackumulerade underskottsavdrag.

Not 12 Balanserade utgifter för utvecklingsarbeten och liknande arbeten

	2015-12-31	2014-12-31
Internt utvecklade tillgångar	3413
Utgående ackumulerade anskaffningsvärden	3413
Ingående avskrivningar		o
Arets avskrivningar enligt plan	$-320$
Utgående ackumulerade avskrivningar	$-320$
Årets nedskrivningar	$-3093$
Utgående ackumulerade nedskrivningar	$-3093$
Utgående planenligt restvärde

Not 13 Koncessioner, patent, licenser, varumärken samt liknande rättigheter

	2015-12-31	2014-12-31
inköp	210 397
Utgående ackumulerade anskaffningsvärden Arets avskrivningar enligt plan	210 397 $-42095$	0
Utgående ackumulerade avskrivningar enligt plan Arets nedskrivningar	$-42096$ $-168302$	0 0
Utgående ackumulerade nedskrivningar	$-168302$
Utgående planenligt restvärde		0

Palmet to Ger

Birdstep Technology AB 556598-2690

Not 14 Maskiner och andra tekniska anläggningar

	2015-12-31	2014-12-31
Ingående anskaffningsvärde inköp	2.161	2075 86
Utgående ackumulerade anskaffningsvärden	2 161	2 1 6 1
ingående avskrivningar enligt plan Arets avskrivning	$-2036$ -34	$-2011$ -25
Utgående ackumulerade avskrivningar enligt plan	$-2070$	$-2036$
Utgående planenligt restvärde	91	125

Not 15 Inventarier, verktyg och installationer

	2015-12-31	2014-12-31
Ingående anskaffningsvärde	626	451
Inköp		175
Utgående ackumulerade anskaffningsvärden	626	626
Ingående avskrivningar enligt plan	-398	-360
Arets avskrivning	-53	$-38$
Utgående ackumulerade avskrivningar enligt plan	$-451$	-398
Utgående planenligt restvärde	175	228

Not 16 Fordringar hos koncernföretag

	2015-12-31	2014-12-31
Ingående anskaffningsvärde	10815	22 573
Tillkommande fordringar		52996
Reglerade fordringar	$-10.815$	-64754
Utgående ackumulerade anskaffningsvärden		10815
Utgående redovisat värde		10815

Not 17 Förutbetalda kostnader och upplupna intäkter

Förutbetalda hyror	521	521
Övriga poster	99	185
Summa	620	706

Not 18 Avsättning Periodiseringsfond

	2015-12-31 --------	2014-12-31
Periodiseringsfond tax 12	_________	842
Periodiseringsfond tax 13		840
Summa		1682

Not 19 Upplupna kostnader och förutbetalda intäkter

	2015-12-31	2014-12-31
Upplupna löner	3074	3 3 5 8
Upplupna arvoden underkonsulter	323	88
Förutbetalda intäkter	5028	0
Övriga poster	587	383
Summa	9012	3829

Romand flu

Birdstep Technology AB
556598-2690

2016040405597 Stockholm 2015-03-21

Velley VIII
Lonnie Schilling
Verkställande direktör / Styrelseledamot

Vår revisionsberättelse avvijer från standardutformning och har avgivits den 2015-03-21

BDQ Sweden AB 1999
Jörgen Löygren
Huvudansvarig revisor
Auktoriserad revisor . . . . . . . . . . . . . .

Marin Willi

REVISIONSBERÄTTELSE

Till årsstämman i Birdstep Technology AB Org.nr. 556598-2690

Rapport om årsredovisningen

Vi har utfört en revision av årsredovisningen för Birdstep Technology AB för år 2015.

Styrelsens och verkställande direktörens ansvar för årsredovisningen

Det är styrelsen och verkställande direktören som har ansvaret för att upprätta en årsredovisning som ger en rättvisande bild enligt årsredovisningslagen och för den interna kontroll som styrelsen och verkställande direktören bedömer är nödvändig för att upprätta en årsredovisning som inte innehåller väsentliga felaktigheter, vare sig dessa beror på oegentligheter eller på fel.

Revisorns ansvar

Vårt ansvar är att uttala oss om årsredovisningen på grundval av vår revision. Vi har utfört revisionen enligt International Standards on Auditing och god revisionssed i Sverige. Dessa standarder kräver att vi följer yrkesetiska krav samt planerar och utför revisionen för att uppnå rimlig säkerhet att årsredovisningen inte innehåller väsentliga felaktigheter.

En revision innefattar att genom olika åtgärder inhämta revisionsbevis om belopp och annan information i årsredovisningen. Revisorn väljer vilka åtgärder som ska utföras, bland annat genom att bedöma riskerna för väsentliga felaktigheter i årsredovisningen, vare sig dessa beror på oegentligheter eller på fel. Vid denna riskbedömning beaktar revisorn de delar av den interna kontrollen som är relevanta för hur bolaget upprättar årsredovisningen för att ge en rättvisande bild i syfte att utforma granskningsåtgärder som är ändamålsenliga med hänsyn till omständigheterna, men inte i syfte att göra ett uttalande om effektiviteten i bolagets interna kontroll. En revision innefattar också en utvärdering av ändamålsenligheten i de redovisningsprinciper som har använts och av rimligheten i styrelsens och verkställande direktörens uppskattningar i redovisningen, liksom en utvärdering av den övergripande presentationen i årsredovisningen.

Vi anser att de revisionsbevis vi har inhämtat är tillräckliga och ändamålsenliga som grund för våra uttalanden.

Uttalanden

Enligt vår uppfattning har årsredovisningen upprättats i enlighet med årsredovisningslagen och ger en i alla väsentliga avseenden rättvisande bild av Birdstep Technology ABs finansiella ställning per den 31 december 2015 och av dess finansiella resultat och kassaflöden för året enligt årsredovisningslagen. Förvaltningsberättelsen är förenlig med årsredovisningens övriga delar.

Vi tillstyrker därför att årsstämman fastställer resultaträkningen och balansräkningen.

Upplysning av särskild betydelse

Utan att det påverkar våra uttalanden ovan vill jag fästa uppmärksamheten på stycket om "Väsentliga risker och osäkerheter" i förvaltningsberättelsen. Som framgår av texten har bolaget under 2015 förlorat sin största kund. Som vidare framgår kommer bolaget eventuellt att säljas och verksamhetsinriktningen därefter att ändras. Det är nödvändigt att nämnda försäljning genomförs alternativt att ett finansiellt tillskott erhålls som säkerställer fortsatt drift. J

Sida 1(2)

Rapport om andra krav enligt lagar och andra författningar

Utöver vår revision av årsredovisningen har vi även utfört en revision av förslaget till dispositioner beträffande bolagets vinst eller förlust samt styrelsens och verkställande direktörens förvaltning för Birdstep Technology AB för år 2015.

Styrelsens och verkställande direktörens ansvar

Det är styrelsen som har ansvaret för förslaget till dispositioner beträffande bolagets vinst eller förlust, och det är styrelsen och verkställande direktören som har ansvaret för förvaltningen enligt aktiebolagslagen.

Revisorns ansvar

Vårt ansvar är att med rimlig säkerhet uttala oss om förslaget till dispositioner beträffande bolagets vinst eller förlust och om förvaltningen på grundval av vår revision. Vi har utfört revisionen enligt god revisionssed i Sverige.

Som underlag för vårt uttalande om styrelsens förslag till dispositioner beträffande bolagets vinst eller förlust har vi granskat om förslaget är förenligt med aktiebolagslagen.

Som underlag för vårt uttalande om ansvarsfrihet har vi utöver vår revision av årsredovisningen granskat väsentliga beslut, åtgärder och förhållanden i bolaget för att kunna bedöma om styrelseledamoten eller verkställande direktören är ersättningsskyldig mot bolaget. Vi har även granskat om styrelseledamoten eller verkställande direktören på annat sätt har handlat i strid med aktiebolagslagen, årsredovisningslagen eller bolagsordningen.

Vi anser att de revisionsbevis vi har inhämtat är tillräckliga och ändamålsenliga som grund för våra uttalanden.

Uttalanden

Vi tillstyrker att årsstämman disponerar vinsten enligt förslaget i förvaltningsberättelsen och beviljar styrelsens ledamot och verkställande direktören ansvarsfrihet för räkenskapsåret.

Anmärkning

Vid två tillfällen under året har skatter och avgifter inte betalats i tid. Styrelsen och verkställande direktören har därmed inte fullgjortt sina skyldigheter enligt aktiebolagslagen. Försummelsen har inte medfört någon skada för bolaget utöver dröjsmålsräntor.

Sollentuna den den 21 mars 2016

BDO Sweden AB Jör∕zen Lö∜gren ,
uktoriserad revisor

/
//////////////

Klekkerud AS

· Årsberetning
· Årsregnskap
· Revisjonsberetning

2015

Klekkerud AS

Org.nr. 999 603 211

Årsberetning for 2015

Virksomhetens art og hvor den drives

Selskapets virksomhet er kjøp og salg av verdipapirer og fast eiendom, rådgivning og deltakelse i andre virksomheter, samt hva dermed står i forbindelse. Selskapets forretningskontor er i Tønsberg kommune.

Fortsatt drift

Styret bekrefter at forutsetningen for fortsatt drift er tilstede og at årsregnskapet er satt under denne forutsetning. Resultatet for $2015$ er kr. $-665809$ .

Ytre miljø

Selskapets virksomhet påvirker ikke det ytre miljø utover det som aksepteres fra denne bransjen. De tiltak som sikrer dette blir løpende fulgt opp.

Arbeidsmiljø og likestilling

Selskapet har ingen ansatte per 31.12.2015. Ved eventuelle ansettelser vil både kvinner og menn oppfordres til å søke.

Rettvisende bilde

Styret bekrefter at årsregnskapet gir et rettvisende bilde av selskapets eiendeler og gjeld, finansielle stilling og resultat.

Tønsberg, den 03. juni 2016

I styret for Klekkerud AS

Styrets leder

Kjetil Hvarnes

Styremedlem

Ola Solheim Grøndahl Styremedlem

Resultatregnskap
Klekkerud AS
Driftsinntekter og driftskostnader	Note	2015	2014
Annen driftskostnad Sum driftskostnader	$\overline{2}$	370 368 370 368	1 199 455 1 199 455
Driftsresultat		$-370368$	$-1$ 199 455
Finansinntekter og finanskostnader Inntekt på investering i tilknyttet selskap Annen renteinntekt Nedskrivning av finansielle eiendeler Rentekostnad til foretak i samme konsern Annen rentekostnad Resultat av finansposter Ordinært resultat før skattekostnad Skattekostnad på ordinært resultat Ordinært resultat	7 6 $\overline{7}$ 6 6 3	$\theta$ 563 909 $\Omega$ 649 207 210 142 $-295440$ $-665809$ $\theta$ $-665809$	2 2 6 9 0 6 0 714 624 499 999 1 130 639 373 862 979 184 $-220272$ 661 935 $-882207$
Årsresultat Overføringer Overført til udekket tap Sum overføringer	$\overline{4}$	$-665809$ 665.809 $-665809$	$-882207$ 882 207 $-882207$

$\ddot{\phantom{a}}$

	Balanse
	Klekkerud AS
Eiendeler		Note	2015	2014
Anleggsmidler
Finansielle anleggsmidler
Investeringer i aksjer og andeler		7	87 956 876	39 716 351
Andre langsiktige fordringer		6	28 238 371	75 902 488
Sum finansielle anleggsmidler			116 195 247	115 618 839
Sum anleggsmidler			116 195 247	115 618 839
Omløpsmidler
Fordringer
Andre kortsiktige fordringer			5 5 9 4	5 1 2 5
Sum fordringer			5594	$\overline{5125}$
Bankinnskudd, kontanter o.l.			239	1 1 5 1
Sum omløpsmidler			5833	6 2 7 6
Sum eiendeler			116 201 080	115 625 115

	Balanse
	Klekkerud AS
Egenkapital og gjeld Innskutt egenkapital	Note	2015	2014
Aksjekapital	$\overline{4}$	10 030 000	30 000
Overkurs	4	67 981 250
Annen innskutt egenkapital	$\overline{4}$	$-11000$	$-11000$
Sum innskutt egenkapital		78 000 250	19 000
Opptjent egenkapital
Udekket tap	$\overline{4}$	$-3326691$	$-2660883$
Sum opptjent egenkapital		-3 326 691	$-2660883$
Sum egenkapital	$\overline{\mathbf{4}}$	74 673 559	$-2641883$
Gjeld
Annen langsiktig gjeld Øvrig langsiktig gjeld	6	41 468 481	118 197 706
Sum annen langsiktig gjeld		41 468 481	118 197 706
Kortsiktig gjeld Leverandørgjeld	6	59 041	69 29 2
Sum kortsiktig gjeld		59 041	69 29 2
Sum gjeld		41 527 521	118 266 998
Sum egenkapital og gjeld		116 201 080	115 625 115
Kristian Gjertsen Lundkvist styreleder	$\cos 0.2016$ Styrety Klekkerud/A Ola Solheim Grøndahl styremedlem		Kjetil Hvarnes styremedlem
Klekkerud AS			Side 3

$\langle \hat{S} \rangle$

Klekkerud AS Årsregnskap 2015

Noter

Note 1 Regnskapsprinsipper

Årsregnskapet er satt opp i samsvar med regnskapsloven og god regnskapsskikk for små foretak.

Omløpsmidler/Kortsiktig gjeld

Omløpsmidler og kortsiktig gjeld omfatter normalt poster som forfaller til betaling innen ett år etter balansedagen, samt poster som knytter seg til varekretsløpet. Omløpsmidler vurderes til laveste verdi av anskaffelseskost og antatt virkelig verdi.

Anleggsmidler/Langsiktig gjeld

Anleggsmidler omfatter eiendeler bestemt til varig eie og bruk. Anleggsmidler er vurdert til anskaffelseskost. Varige driftsmidler balanseføres og avskrives over driftsmidlets økonomiske levetid. Varige driftsmidler nedskrives til gjenvinnbart beløp ved verdifall som forventes ikke å være forbigående. Gjenvinnbart beløp er det høyeste av netto salgsverdi og verdi i bruk. Verdi i bruk er nåverdi av fremtidige kontantstrømmer knyttet til eiendelen. Nedskrivingen reverseres når grunnlaget for nedskrivingen ikke lenger er tilstede.

Fordringer

Kundefordringer og andre fordringer oppføres til pålydende etter fradrag for avsetning til forventet tap. Avsetning til tap gjøres på grunnlag av en individuell vurdering av de enkelte fordringene. I tillegg gjøres det for øvrige fordringer en uspesifisert avsetning for å dekke antatt tap.

Datterselskap/tilknyttet selskap

Datterselskapet og tilknyttede selskaper vurderes etter kostmetoden i selskapsregnskapet. Investeringen er vurdert til anskaffelseskost for aksjene med mindre nedskrivning har vært nødvendig. Det er foretatt nedskrivning til virkelig verdi når verdifall skyldes årsaker som ikke kan antas å være forbigående og det må anses nødvendig etter god regnskapsskikk. Nedskrivninger er reversert når grunnlaget for nedskrivning ikke lenger er til stede.

Utbytte og andre utdelinger er inntektsført samme år som det er avsatt i datterselskapet. Overstiger utbytte andel av tilbakeholdt resultat etter kjøpet, representerer den overskytende del tilbakebetaling av investert kapital, og utdelingene er fratrukket investeringens verdi i balansen.

Skatt

Skattekostnaden i resultatregnskapet omfatter både periodens betalbare skatt og endring i utsatt skatt. Utsatt skatt er beregnet med 25 % på grunnlag av de midlertidige forskjeller som eksisterer mellom regnskapsmessige og skattemessige verdier, samt ligningsmessig underskudd til fremføring ved utgangen av regnskapsåret. Skatteøkende og skattereduserende midlertidige forskjeller som reverserer eller kan reversere i samme periode er utlignet og nettoført.

Note 2 Lønnskostnader etc.

Selskapet har ingen ansatte.

Det er ikke utbetalt noe styrehonorar til selskapets styre.

Revisor

Det er kostnadsført revisjonshonorar med kr 11 531,25 inkl. mva. i 2015. Av dette utgjør kr 0 inkl. mva. honorar for andre tjenester.

Note 3 Skatt

Utsatt skatt

Spesifikasjon av midlertidige forskjeller og beregning av utsatt skatt:

Midlertidige forskjeller knyttet til:		2015	2014	Endring
Fordringer
Underskudd til fremføring		$-5053031$	-4 368 472	$-684559$
Sum midlertidige forskjeller		$-5053031$	-4 368 472	$-684559$
Ikke inkludert i utsatt skattefordel		5 053 031	4 3 6 8 4 7 2	684 559
Utsatt skatt/skattefordel	25%		-

Det er foretatt utligning av positive og negative forskjeller.

Utsatt skattefordel kan unnlates balanseført. Dette følger av GRS for

små foretak. Selskapet har valgt å ikke balanseføre netto utsatt skattefordel.

Betalbar skatt	2015

Resultat før skattekostnad	$-665809$
Permanente forskjeller	$-18750$
Endring midlertidige tidsforskjeller (jfr. ovenfor)
Grunnlag betalbar skatt (avrundet)	$-684559$
Betalbar skatt $27\%$	$\mathbf{0}$
Skattekostnad	2015
Årets betalbare skatt
Utsatt skatt - netto endring (jfr. ovenfor)
Avsatt for mye tidligere år
Skattekostnad	$\bf{0}$

Note 4 Egenkapital og aksjonærinformasjon

	Annen innskutt
Egenkapital	Aksjekapital	Overkurs	egenkapital	Udekket tap	Sum
Egenkapital 01.01.15	30 000		$-11000$	$-2660883$	$-2641883$
Kapitalforhøyelse 26.11.15	10 000 000	67 981 250			77 981 250
Årets resultat	$\blacksquare$		$\overline{\phantom{a}}$	$-665809$	$-665809$
Egenkapital 31.12.2015	10 030 000	67 981 250	$-11000$	$-3326692$	74 673 559

Selskapets aksjekapital er på kr 30 000 fordelt på 1 000 aksjer à kr 10 030 pr. aksje. Selskapets aksjer gir lik rett til utbytte.

Aksjeeierne i Klekkerud AS pr. 31.12.2015 er:

	Antall aksjer
Contante AS	750
Ruge og Klekke AS	250
Totalt	1 000

Note 5 Obligatorisk tjenestepensjon

Selskapet er ikke pliktig til å ha tjenestepensjonsordning etter lov om obligatorisk tjenestepensjon.

$\overline{\phantom{a}}$

Note 6 Mellomværende med konsernselskaper/tilknyttede selskaper

Gjeld til selskaper i samme konsern

		Langsiktig gjeld i balansen	Mellomværende i reskontro:
Selskap	Pr 31.12.15	Pr. 31.12.14	Pr. 31.12.15	Pr 31.12.14
Contante AS	31 656 127	89 095 494	$\blacksquare$	50 4 26
Ruge & Klekke AS	9 812 354	29 102 212	$\qquad \qquad \blacksquare$	$\overline{\phantom{a}}$
Middelborg AS	$\blacksquare$	-	33 4 16	13 741

Mellomværende med Contante AS og Ruge & Klekke AS renteberegnes med den til enhver tid gjeldende skjermingsrente. Gjelden skal gjøres opp når selgerkreditten mot Teki Solutions AS og Nordialog Oslo AS, se under, gjøres opp. Senest i 2020.

Fordring på nærstående selskap:

	Mellomværende i balansen:
Selskap	Pr 31.12.15	Pr. 31.12.14
Teki Solutions AS	4 2 29 6 23	52 070 792
Nordialog Oslo AS	24 008 748	23 831 696

$\mathcal{L}$

Mellomværende renteberegnes med enhver tid gjeldende skjermingsrente. Fordringen skal innfris senest i 2020.

Note 7 Investeringer

	Ervervet	Kontor	Eierandel	Stemmeandel	Bokført verdi
Supportia Norge AS	2013	Oslo	2%	$2\%$
Kjedehuset AS	2013	Oslo	$5\%$	$5\%$	39 721 050
Teki Solutions	2013	Oslo	24%	24%	48 235 825

$\langle \bullet \rangle$

Supportia Norge AS er begjært konkurs 25.04.2016. Da konkursoppgjøret ikke er ferdig, og aksjene står bokført til en krone anser vi ikke at denne verdien medfører feil i regnskapet pr. 31.12.2015.

Statsautoriserte revisorer Ernst & Young AS

Áslyveien 21, NO-3170 Sem Postboks 2427, NO-3104 Tønsberg Foretaksregisteret: NO 976 389 387 MVA Tlf: +47 33 35 05 00 Fax: +47 33 35 05 01 www.ey.no Medlemmer av Den norske revisorforening

Til generalforsamlingen i Klekkerud AS

REVISORS BERETNING

Uttalelse om årsregnskapet

Vi har revidert årsregnskapet for Klekkerud AS, som består av balanse per 31. desember 2015, resultatregnskap som viser et underskudd på kr 665 809 for regnskapsåret avsluttet per denne datoen og en beskrivelse av vesentlige anvendte regnskapsprinsipper og andre noteopplysninger.

Styrets ansvar for årsregnskapet

Styret er ansvarlig for å utarbeide årsregnskapet og for at det gir et rettvisende bilde i samsvar med regnskapslovens regler og god regnskapsskikk i Norge, og for slik intern kontroll som styret finner nødvendig for å muliggjøre utarbeidelsen av et årsregnskap som ikke inneholder vesentlig feilinformasjon, verken som følge av misligheter eller feil.

Revisors oppgaver og plikter

Vår oppgave er å gi uttrykk for en mening om dette årsregnskapet på bakgrunn av vår revisjon. Vi har gjennomført revisjonen i samsvar med lov, forskrift og god revisjonsskikk i Norge, herunder International Standards on Auditing. Revisjonsstandardene krever at vi etterlever etiske krav og planlegger og gjennomfører revisjonen for å oppnå betryggende sikkerhet for at årsregnskapet ikke inneholder vesentlig feilinformasjon.

En revision innebærer utførelse av handlinger for å innhente revisionsbevis for beløpene og opplysningene i årsregnskapet. De valgte handlingene avhenger av revisors skjønn, herunder vurderingen av risikoene for at årsregnskapet inneholder vesentlig feilinformasjon, enten det skyldes misligheter eller feil. Ved en slik risikovurdering tar revisor hensyn til den interne kontrollen som er relevant for selskapets utarbeidelse av et årsregnskap som gir et rettvisende bilde. Formålet er å utforme revisjonshandlinger som er hensiktsmessige etter omstendighetene, men ikke for å gi uttrykk for en mening om effektiviteten av selskapets interne kontroll. En revisjon omfatter også en vurdering av om de anvendte regnskapsprinsippene er hensiktsmessige og om regnskapsestimatene utarbeidet av ledelsen er rimelige, samt en vurdering av den samlede presentasjonen av årsregnskapet.

Etter vår oppfatning er innhentet revisjonsbevis tilstrekkelig og hensiktsmessig som grunnlag for vår konklusjon.

Konklusjon

Etter vår mening er årsregnskapet for Klekkerud AS avgitt i samsvar med lov og forskrifter og gir et rettvisende bilde av selskapets finansielle stilling per 31. desember 2015 og av dets resultater for regnskapsåret som ble avsluttet per denne datoen i samsvar med regnskapslovens regler og god regnskapsskikk i Norge.

Uttalelse om øvrige forhold

Konklusjon om årsberetningen

Basert på vår revisjon av årsregnskapet som beskrevet ovenfor, mener vi at opplysningene i årsberetningen om årsregnskapet og forutsetningen om fortsatt drift er konsistente med årsregnskapet og i samsvar med lov og forskrifter.

Konklusjon om registrering og dokumentasjon

Basert på vår revisjon av årsregnskapet som beskrevet ovenfor, og kontrollhandlinger vi har funnet nødvendig i henhold til internasjonal standard for attestasjonsoppdrag (ISAE) 3000 «Attestasjonsoppdrag som ikke er revisjon eller forenklet revisorkontroll av historisk finansiell informasion», mener vi at styret har oppfylt sin plikt til å sørge for ordentlig og oversiktlig registrering og dokumentasjon av selskapets regnskapsopplysninger i samsvar med lov og god bokføringsskikk i Norge.

Tønsberg, 3. juni 2016 ERNST & YOUNG AS

Kåre Rødssæteren statsautorisert revisor

Organisasjonsnummer 898 742 482

ÅRSBERETNING FOR 2015

1. Virksomhetens art og lokalisering

Teki Solutions AS eier og drifter forhandlere som driver salg av kommunikasjonsløsninger med fokus på mobile løsninger. Selskapet holder til i Brynsveien 3 på Helsfyr i Oslo.

2. Rettvisende oversikt over utviklingen, resultatet og foretakets stilling

Styret mener at det fremlagte årsregnskap gir ett rettvisende bilde over utviklingen og resultat av foretakets virksomhet og stilling. Selskapet hadde inntekter på totalt kr 14 966 683 i 2015 mot kr 12 174 366,- i 2014. Selskapet har i 2015 et underskudd på kr 1 631 923 mot et overskudd i 2014 på kr 14 866 825. Totalkapitalen var ved utgangen av året på kr 396 176 172 mot kr 438 205 679,- i 2014. Egenkapitalandelen pr 31.12.2015 var på 61.23 %.

3. Forsknings- og utviklingsaktiviteter

Selskapet har ikke hatt forsknings- og utviklingsaktiviteter i 2015.

4. Framtidig utvikling

Markedet for salg av kommunikasjonsløsninger som mobiltelefoner, mobilabonnement, samordnede kommunikasjonsløsninger, tilbehør og tilhørende tjenester har vært stabilt de seneste årene. Det forventes fortsatt høy etterspørsel etter ovennevnte produkter og tjenester også i 2016. Teki Solutions AS har etablert seg som en ledende aktør innenfor mobil - og datakommunikasjon. I lys av dette er selskapets utsikter positive.

5. Finansiell risiko

Selskapets finansielle risiko er lav, vurdert mot soliditeten. Det foretas ingen sikring av valuta. Selskapet vurderer likviditeten løpende. Det er ikke besluttet å innføre tiltak som endrer likviditets risikoen. Teki Solutions AS har gjennom mange år opparbeidet et velfungerende samarbeid med operatøren Telenor og software/hardware produsenter. Vesentlige endringer på samarbeidet med disse partnerne vil kunne påvirke inntektene i selskapets datterselskaper negativt.

6. Fortsatt drift

Styret og daglig leder mener det er riktig å legge forutsetningen for fortsatt drift av selskapet til grunn for avleggelsen av årsregnskapet.

Teki Solutions AS Tyctenveien 6, 0661 Oslo Telefon: 90 99 16 18 Foretaksnummer: 898 742 482

7. Arbeidsmiljø

Arbeidsmiljøet er godt. Sykefraværet er lite, og er på det samme nivå som i 2014. Det er ikke rapportert om skader eller ulykker på arbeidsplassen i løpet av året.

8. Likestilling

Selskapet har som mål å være arbeidsplass der det råder full likestilling mellom kvinner og menn. Selskapet har innarbeidet policy som tar sikte på et det ikke forekommer forskjellsbehandling grunnet kjønn. Av selskapets ansatte er ingen kvinner. Styret består av 4 menn.

9. Ytre miljø

Selskapet sin virksomhet påvirker ikke det ytre miljø. Selskapet har tegnet medlemskap i Materialretur AS som omfatter ordninger for retur og gjenvinning av emballasjeavfall, samt kontroll av at våre leverandører oppfyller myndighetenes forpliktelser.

10. Forslag til dekning av underskudd

Styret foreslår følgende dekning av årsunderskuddet kr 1 631 923,-

Overført fra annen egenkapital

$kr - 1631923.$

Kvistian Gjertsen Lundkvist

Oslo, 11.04.2016

Styreleder

une Midthaug Administrerende direktør

Roger Eugen Arnesen

Styremedlem

vein Ove Brekke Styremedlem

Stein Erik Sandvik ohansen

Styremedlem

Teki Solutions AS Tvetenveien 6, 0661 Oslo Telefon: 90 99 16 18 Foretaksnummer: 898 742 482

Resultatregnskap

Driftsinntekter og driftskostnader	Note	2015	2014
Salgsinntekt	1, 10	14 966 683	12 159 366
Annen driftsinntekt		0	15 000
Sum driftsinntekter		14 966 683	12 174 366
Varekostnad
Lønnskostnad	6	40 359 13 037 754	2744249 10 144 460

Avskrivning av driftsmidler og immaterielle eiendeler	11	40 543	22 3 28
Annen driftskostnad	6	13 130 810	9 9 2 4 0 6 0
Sum driftskostnader		26 249 465	22 835 097
Driftsresultat		-11 282 782	-10 660 732

Finansinntekter og finanskostnader
Inntekt på investering i datterselskap	2	15 470 541	37 714 836
Renteinntekt fra foretak i samme konsern	3	2 7 6 6	713 440
Annen renteinntekt		1013	1
Annen finansinntekt		320 893	29 130
Rentekostnad fra selskap i samme konsern	3	3 405 331	2757887
Annen rentekostnad		3 258 358	4 622 763
Annen finanskostnad		646	5401
Resultat av finansposter		9 130 878	31 071 356
Ordinært resultat før skattekostnad		$-2$ 151 904	20 410 625
Skattekostnad på ordinært resultat	8	$-519980$	5 543 799
Ordinært resultat		$-1631923$	14 866 825

Arsresultat		$-1631923$	14 866 825
Overføringer
Avsatt til annen egenkapital	9	$-1631923$	14 866 825
Sum overføringer		$-1631923$	14 866 825

Side 1

Balanse

Eiendeler	Note	2015	2014
Anleggsmidler
Utsatt skattefordel	8	1069073	546 051
Sum immaterielle eiendeler		1 069 073	546 051
Driftsløsøre, inventar o.a. utstyr	11	177 486	125 551
Sum varige driftsmidler		177 486	125 551
Finansielle anleggsmidler
Investeringer i datterselskap	$\overline{2}$	361 781 217	361 781 217
Investeringer i aksjer og andeler	$\overline{2}$	1 669 900	1669900
Sum finansielle anleggsmidler		363 451 117	363 451 117
Sum anleggsmidler		364 697 676	364 122 719
Omløpsmidler
Fordringer
Kundefordringer	3	1448 124	3 983 599
Andre kortsiktige fordringer	3	29 290 631	69 660 899
Sum fordringer		30 738 755	73 644 498
Bankinnskudd, kontanter o.l.	4	739 742	438 462
Sum omløpsmidler		31 478 496	74 082 960
Sum eiendeler		396 176 172	438 205 679

Teki Solutions AS

Balanse

Egenkapital og gjeld	Note	2015	2014
Innskutt egenkapital
Aksjekapital	7,9	244 433	32 243
Egne aksjer	7, 9	0	$-345$
Overkurs	7, 9	199 420 733	2 200 984
Sum innskutt egenkapital		199 665 165	2 2 3 2 8 8 1
Opptjent egenkapital
Annen egenkapital	9	42 901 792	44 534 060
Sum opptjent egenkapital		42 901 792	44 534 060
Sum egenkapital		242 566 957	46 766 941
Gjeld
Annen langsiktig gjeld
Gjeld til kredittinstitusjoner	5	43 125 000	71 875 000
Gjeld til aksjonærer	3	64 345 451	256 591 513
Annen langsiktig gjeld		0	6974007
Sum annen langsiktig gjeld		107 470 451	335 440 520
Kortsiktig gjeld
Gjeld til kredittinstitusjoner		$\mathbf 0$	279 948
Leverandørgjeld		1 596 287	1881228
Betalbar skatt	8	0	552 000
Skyldig offentlige avgifter		774 556	595 233
Gjeld til selskap i samme konsern	3	0	41 667 739
Annen kortsiktig gjeld	$\overline{3}$	43 767 922	11 022 069
Sum kortsiktig gjeld		46 138 764	55 998 218
Sum gjeld		153 609 215	391 438 738
Sum egenkapital og gjeld		396 176 172	438 205 679

Side 3

$\widehat{\mathbf{u}}$

Balanse

Roger/Eugen Arnesen
styremedlem Kristian Gjertsen Lundkws
styreleder $\mathcal{U}^{\mathcal{L}}$ Svein Ove Brekke styremedlem

Oslo, den $\frac{11}{4} - \frac{1}{6}$
Styret i Teki Solutions AS

tein Erik S. Johansen
styremedlem

$10M$ Rune Midthaug daglig leder

Teki Solutions AS

Note 1: Regnskapsprinsipper og virkningen av prinsippendringer

Årsregnskapet er satt opp i samsvar med regnskapsloven og god regnskapsskikk.

Bruk av estimater

Utarbeidelse av regnskap i samsvar med regnskapsloven krever bruk av estimater. Videre krever anvendelse av selskapets regnskapsprinsipper at ledelsen må utøve skjønn. Områder som i stor grad inneholder slike skjønnsmessige vurderinger, høy grad av kompleksitet, eller områder hvor forutsetninger og estimater er vesentlige for årsregnskapet, er beskrevet i notene.

Salgsinntekter

Inntektsføring skjer etter opptjeningsprinsippet, det vil si ved salgstidspunktet. Tjenester inntektsføres i takt med utførelsen.

Klassifisering av balanseposter

Eiendeler bestemt til varig eie eller bruk klassifiseres som anleggsmidler. Eiendeler som er tilknyttet varekretsløpet klassifiseres som omløpsmidler. Fordringer for øvrig klassifiseres som omløpsmidler hvis de skal tilbakebetales innen ett år. For gjeld legges analoge kriterier til grunn. Første års avdrag på langsiktige fordringer og langsiktig gjeld klassifiseres likevel ikke som omløpsmiddel og kortsiktig gjeld.

Investeringer i andre selskaper

Med unntak for kortsiktige investeringer i børsnoterte aksjer, brukes kostmetoden som prinsipp for investeringer i andre selskaper. Kostprisen økes når midler tilføres ved kapitalutvidelse, eller når det gis konsernbidrag til datterselskap. Mottatte utdelinger resultatføres i utgangspunktet som inntekt. Utdelinger som overstiger andel av opptjent egenkapital etter kjøpet føres som reduksjon av anskaffelseskost. Utbytte/konsernbidrag fra datterselskap regnskapsføres det samme året som datterselskapet avsetter beløpet. Utbytte fra andre selskaper regnskapsføres som finansinntekt når det er vedtatt.

Nedskrivning av anleggsmidler

Ved indikasjon på at balanseført verdi av et anleggsmiddel er høyere enn virkelig verdi, foretas det test for verdifall. Testen foretas for det laveste nivå av anleggsmidler som har selvstendige kontantstrømmer. Hvis balanseført verdi er høyere enn både salgsverdi og gjenvinnbart beløp (nåverdi ved fortsatt bruk/eie), foretas det nedskrivning til det høyeste av salgsverdi og gjenvinnbart beløp. Tidligere nedskrivninger, reverseres hvis forutsetningene for nedskrivningen ikke lenger er til stede.

Fordringer

Kundefordringer føres i balansen etter fradrag for avsetning til forventede tap. Avsetning til tap er gjort på grunnlag av individuell vurdering av fordringene og en tilleggsavsetning som skal dekke øvrige påregnelige tap. Vesentlige økonomiske problemer hos kunden, sannsynligheten for at kunden vil gå konkurs eller gjennomgå økonomisk restrukturering og utsettelser og mangler ved betalinger anses som indikatorer på at kundefordringer må nedskrives.

Andre fordringer, både omløpsfordringer og anleggsfordringer, føres opp til det laveste av pålydende og virkelig verdi. Avsetning til tap vurderes på samme måte som for kundefordringer.

Investeringer i børsnoterte aksjer

For kortsiktige investeringer i børsnoterte selskaper brukes markedsverdiprinsippet. Verdien i balansen tilsvarer markedsverdien av investeringene pr. 31.12. Mottatt utbytte, og realiserte og urealiserte gevinster/ tap, resultatføres som finansposter.

Gjeld

Gjeld, med unntak for enkelte avsetninger for forpliktelser, balanseføres til nominelt gjeldsbeløp.

Skatt

Skattekostnaden i resultatregnskapet omfatter både periodens betalbare skatt og endring i utsatt skatt. Utsatt skatt beregnes med aktuell skattesats på grunnlag av de midlertidige forskjeller som eksisterer mellom regnskapsmessige og skattemessige verdier, samt eventuelt ligningsmessig underskudd til fremføring ved utgangen av regnskapsåret. Skatteøkende og skattereduserende midlertidige forskjeller som reverserer eller kan reversere i samme periode er utlignet. Oppføring av utsatt skattefordel på netto skattereduserende forskjeller som ikke er utlignet og underskudd til fremføring, begrunnes med antatt fremtidig inntjening. Utsatt skatt og skattefordel som kan balanseføres oppføres netto i balansen.

Skattereduksjon ved avgitt konsernbidrag, og skatt på mottatt konsernbidrag som føres til reduksjon av kostpris eller direkte mot egenkapitalen, føres direkte mot skatt i balansen (mot betalbar skatt hvis konsernbidraget har virkning på betalbar skatt og mot utsatt skatt hvis konsernbidraget har virkning på utsatt skatt).

Utsatt skatt regnskapsføres til nominelt beløp.

Kontantstrømoppstilling

Kontantstrømoppstillingen utarbeides etter den indirekte metoden. Kontanter og kontantekvivalenter omfatter kontanter, bankinnskudd and andre kortsiktige, likvide plasseringer som umiddelbart og med uvesentlig kursrisiko kan konverteres til kjente kontantbeløp og med gjenværende løpetid mindre enn tre måneder fra anskaffelsesdato.

Note 2: Investeringer i datterselskap og andre investeringer

Datterselskaper:

	Eier- andel/ stemme- rett	Forretn- ings- kontor	Anskaffelse - tidspunkt	Balansverdi 1.1.	Kapitalforhøyelse tilganger	Balanseverdi 31.12.

Nordialog Oslo AS	100 %	Oslo	2012	327 736 687		327 736 687
Smartworks AS	100 %	Oslo	2013-2014	17 660 661		17 660 661
NetConnect AS	100 %	Oslo	2013	16 383 869		16 383 869
Sum datterselskaper				361 781 217	0	361 781 217
Investering i andre selskaper:
Kjedehuset AS		Oslo	2014	1 669 900	0	1 669 900
Sum investeringer i andre selskaper				1 669 900	O	1 669 900

Note 3: Mellomværende med selskap i samme konsern /nærstående mv.

		Kundefordringer		Kortsiktige fordringer
	2015	2014	2015	2014
Fordring på aksjonærer	0	6 2 6 1	3 250 000	$\mathbf{0}$
Øvrige foretak i samme konsern	40 200	3 621 539	15 573 149	66 215 923
	40 200	3 627 800	18 823 149	66 215 923
		Kortsiktig gjeld		Langsiktig gjeld
	2015	2014	2015	2014
Gjeld til aksjonærer	66 830	$\bf{0}$	25 008 935	222 440 874
Øvrige foretak i samme konsern	94730	42 027 930	63 813 606	34 150 639
	161 560	42 027 930	88 822 541	256 591 513

Mellomværende renteberegnes iht NIBOR og forfaller i sin helhet senest august 2021. Langsiktig gjeld ifm selgerkreditt er iht avtale beregnet med skjermingsrente for 2015.

Note 4: Bankinnskudd

Av bankinnskuddene er kr 509 920 i bundne skattetrekksmidler.

	Note 5: Langsiktig gjeld, pantstillelser og garantier m.v.	2015	2014
Langsiktig gjeld:		43 125 000	71 875 000

Gjelden forfaller i sin helhet innen 5 år før regnskapsårets slutt.

Det er tatt pant i konsernets driftstilbehør, varelager og factoring til en verdi av 115 000 000.

Note 6: Lønnskostnader, antall ansatte m.m.

Gjennomsnittlig ansatte	7,5	6
Sum	13 187 754	10 144 460
Andre ytelser	625 862	242 328
Pensjonskostnad	609 198	113 986
Folketrygdavgift	1 477 572	1 493 615
Lønninger	10 475 121	8 294 531
	2015	2014

Ytelser til ledende personer	Daglig
	leder	Styret
Lønn	1 414 122
Annen godtgjørelse	169 555
	1 583 677

OTP

Selskapet har for sine ansatte, en pensjonsordning som tilfredsstiller lov om obligatorisk tjenestepensjon.

Revisor

Kostnadsført for revisjon kr 232 987, samt kostnad til revisor for bistand med oppsett av regnskap og ligningsdokumenter kr 58 247.

Note 7: Antall aksjer, aksjeeiere

Aksjekapitalen består av 1 aksjeklasse. Aksjene som har pålydende kr 1,50.

	Pålydende	Antall aksjer	Eierandel	Stemmeandel
Teki Gruppen AS	131 420	87613	54%	54%
Klekkerud AS	59 633	39 755	24%	24%
NOMO Holding AS	16 340	10893	7%	7%
Nordialog Ensjø AS	16 340	10893	7%	7%
KJGI AS	5 0 78	3 3 8 5	2%	2,1%
EMP AS	5078	3 3 8 5	2%	2,1%
Duratro AS	3 2 2 7	2 1 5 1	1%	1, 3%
Belvedere Holding AS	5 0 78	3 3 8 5	2%	2,1%
Bard Pedersen	48	32	0%	0.0%
Christina Kristiansen	150	100	$0\%$	0,1%
Frederick Bjørn-Anders Øksne	150	100	0%	0,1%
Hans Eik Uteng	110	73	0%	0,0%
Karivold Invest AS	110	73	0%	0,0%
Kim Hariz	150	100	0%	0,1%
Mads Vardal	150	100	0 ^%	0,1%
Manstad Holding AS	111	74	0%	0,0%
Martin Meintjes	260	173	0%	0,1%
Morten Andersen	150	100	0 ²	0,1%
Roja Holding AS	510	340	0%	0,2%
Rune Midthaug	345	230	0%	0,1%
Sum	244 433	162 955	100 %	100 %
Sum antall aksjer	244 433	162 955	100 %	100 %

Morselskapet TEKI GRUPPEN AS har forretningskontor i Brynsveien 3, 0667 Oslo hvor man kan få utlevert konsernregnskap der selskapet inngår.

Note 8: Skatt

Skatter kostnadsføres når de påløper, det vil si at skattekostnaden er knyttet til det regnskapsmessige resultat før skatt. Skattekostnaden består av betalbar skatt (skatt på årets skattepliktige inntekt) og endring i netto utsatt skatt. Skattekostnaden fordeles på ordinært resultat og resultat av ekstraordinære poster i henhold til skattegrunnlaget.

Årets skattekostnad:	2015	2014
Betalbar selskapsskatt	0	552 000
Skatt tidligere år	3042
Endring utsatt skatt	$-523022$	$-546051$
Skatt av avgitt konsernbidrag, 27 %	$\Omega$	5 537 850
Årets totale skattekostnad	$-519980$	5 543 799

Betalbar skatt i årets skattekostnad fremkommer slik:
Ordinært resultat før skatt	$-2$ 151 904	20 410 625
Permanente forskjeller	$-15251668$	$-37590050$
Gevinst salg aksjer innenfor Fritaksmodellen	$-320850$	n
Endring i midlertidige forskjeller	$-12,221$	$-22035$
Avskåret rentefradrag til fremføring	1 734 258	2044 447
Mottatt konsernbidrag	15 470 540	37 712 017
Anvendelse av fremførbart underskudd	$\mathbf{0}$	$\Omega$
Avgitt konsernbidrag	0	$-20510557$
Skattepliktig inntekt	$-531844$	2 044 447
Betalbar skatt i balansen fremkommer slik:
Betalbar skatt på årets resultat	$-4788894$	$-4644394$
Betalbar skatt på avskåret rentefradrag	468 250	552 000
Betalbar skatt på mottatt konsernbidrag	4 177 046	10 182 245
Betalbar skatt på avgitt konsernbidrag	0	-5 537 850
Sum skattegjeld	$-143598$	552 000
Spesifikasjon av grunnlag for utsatt skatt:	2015	2014	Endring
Forskjeller som utlignes
Akkumulert fremførbart underskudd	$-531844$	O	531 844
Driftsmidler	34 256	22 035	$-12221$
Omløpsmidler		$\Omega$	$\Omega$
Avskäret rentefradrag	$-3778705$	$-2044447$	1 734 258
Sum	$-4276293$	$-2022412$	2 2 5 3 8 8 1
Utsatt skattefordel, 25% / 27%	$-1069073$	$-546051$	523 022

				Annen
Note 9: Egenkapital	Aksjekapital	Overkurs	Egne aksjer	egenkapital	Sum
Pr. 01.01.	32 243	2 200 984	$-345$	44 534 060	46 766 942
Kapitalforhøyelse		212 190 197 219 749			197 431 939
Salg av egne aksjer			345	$-345$	0
Árets resultat				$-1631923$	$-1631923$
Pr. 31.12.		244 433 199 420 733		42 901 792	242 566 957

Note 10: Salgsinntekter

2015	2014
9 782 773	9 047 103
9782773	9 047 103
2015	2014
	$\mathbf 0$
5 183 910	3 127 263
5 183 910	3 127 263
2015	2014
14 966 683	12 174 366
14 966 683	12 174 366

Note 11: Varige driftsmidler

	utstyr	Datautstyr
Anskaffelseskost 01.01	86 187	61 692
Tilgang / avgang i året	92 478
Anskaffelseskost 31.12	178 665	61 692
Akkumulerte avskrivninger	28 619	34 252
Akkumulerte nedskrivninger	0
Balanseført verdi 31.12	150 046	27 440
Årets avskrivninger	20 000	20 543
Avskrivningsplan	5 år lineær	3 år lineær

$\mathbb{R}^n$

$\overline{\phantom{a}}$

Inventar /

Tlf: +47 23 11 91 00 Fax: +47 23 11 91 01 [email protected] www.bdo.no

Munkedamsveien 45 Postboks 1704 Vika 0121 Oslo

Til Generalforsamlingen i

TEKI SOLUTIONS AS

REVISORS BERETNING

Uttalelse om årsregnskapet

Vi har revidert årsregnskapet for Teki Solutions AS, som viser et underskudd på kr 1.631.923. Årsregnskapet består av balanse per 31. desember 2015 og resultatregnskap, for regnskapsåret avsluttet per denne datoen, og en beskrivelse av vesentlige anvendte regnskapsprinsipper og andre noteopplysninger.

Styret og daglig leders ansvar for årsregnskapet

Styret og daglig leder er ansvarlig for å utarbeide årsregnskapet og for at det gir et rettvisende bilde i samsvar med regnskapslovens regler og god regnskapsskikk i Norge, og for slik intern kontroll som styret og daglig leder finner nødvendig for å muliggjøre utarbeidelsen av et årsregnskap som ikke inneholder vesentlig feilinformasjon, verken som følge av misligheter eller feil.

Revisors oppgaver og plikter

En revisjon innebærer utførelse av handlinger for å innhente revisjonsbevis for beløpene og opplysningene i årsregnskapet. De valgte handlingene avhenger av revisors skjønn, herunder vurderingen av risikoene for at årsregnskapet inneholder vesentlig feilinformasjon, enten det skyldes misligheter eller feil. Ved en slik risikovurdering tar revisor hensyn til den interne kontrollen som er relevant for selskapets utarbeidelse av et årsregnskap som gir et rettvisende bilde. Formålet er å utforme revisjonshandlinger som er hensiktsmessige etter omstendighetene, men ikke for å gi uttrykk for en mening om effektiviteten av selskapets interne kontroll. En revisjon omfatter også en vurdering av om de anvendte regnskapsprinsippene er hensiktsmessige og om regnskapsestimatene utarbeidet av ledelsen er rimelige. samt en vurdering av den samlede presentasjonen av årsregnskapet.

Etter vår oppfatning er innhentet revisjonsbevis tilstrekkelig og hensiktsmessig som grunnlag for vår konklusjon.

Konklusjon

Etter vår mening er årsregnskapet avgitt i samsvar med lov og forskrifter og gir et rettvisende bilde av den finansielle stillingen til Teki Solutions AS per 31. desember 2015 og av resultater for regnskapsåret som ble avsluttet per denne datoen i samsvar med regnskapslovens regler om god regnskapsskikk i Norge.

Uttalelse om øvrige forhold

Konklusjon om årsberetningen

Basert på vår revisjon av årsregnskapet som beskrevet ovenfor, mener vi at opplysningene i årsberetningen om årsregnskapet, forutsetningen om fortsatt drift og dekning av tap er konsistente med årsregnskapet og er i samsvar med lov og forskrifter.

Konklusjon om registrering og dokumentasjon

Basert på vår revisjon av årsregnskapet som beskrevet ovenfor, og kontrollhandlinger vi har funnet nødvendig i henhold til internasjonal standard for attestasjonsstandard ISAE 3000 "Attestasjonsoppdrag som ikke er revisjon eller forenklet revisorkontroll av historisk finansiell informasjon", mener vi at ledelsen har oppfylt sin plikt til å sørge for ordentlig og oversiktlig registrering og dokumentasjon av selskapets regnskapsopplysninger i samsvar med lov og god bokføringsskikk i Norge.

Oslo, 12. april 2016 BDO AS

Elhel

Vidar Øyslebø statsautorisert revisor

AI assistant

Techstep ASA — Audit Report / Information 2016

3770_rns_2016-08-12_5a72bf6c-e765-4ccf-b896-cbd98168e4b6.pdf

INFORMATION DOCUMENT

Techstep ASA

IMPORTANT NOTICE

No shares or other securities are being offered or sold in any jurisdiction pursuant to this Information Document.

Table of Contents

1. RISK FACTORS

1.1 Risk factors related to the Company and the industry in which it operates

1.2 Risk factors related to the Company's shares

2. RESPONSIBILITY FOR THE INFORMATION DOCUMENT

2.1 The Board of Directors

Oslo, 12 August 2016

2.2 Information sourced from third parties

3. THE TRANSACTIONS

3.1 Introduction

Key drivers in the continued growth of the combined entities

3.2 The Zono Transaction

3.2.1 Zono AS ("Zono")

3.2.2 The Agreement

3.2.3 The cost for the Transaction

3.3 The Teki Gruppen Transaction

3.3.1 The Agreement

3.3.2 The cost for the Transaction

3.4 Background and rationale for the Transactions

3.5 Description of the business to which the Transaction applies

3.5.1 The business to which the transaction applies

3.5.1.1 Teki Solutions AS

3.5.1.2 Kjedehuset AS

3.5.1.3 The Norwegian Telecom Market

3.5.2 Board of directors, management and employees of Zono AS

3.5.3 Key figures for the business

3.5.3.1 Key Figures of Zono (NOK million)

3.5.3.2 Key figures of Teki Solutions group

3.5.4 The significance of the Transaction to the Company

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

4. PRESENTATION OF TECHSTEP ASA

4.1 General

4.2 Legal Structure

4.3 Board of Directors, Executive Management and Employees

4.3.1 Board of directors

4.3.2 Executive Management

4.3.3 Employees

4.4 Statutory auditors

4.5 Share capital and shareholders

4.5.1 Share capital

4.5.2 Shareholders

4.6 Business description

4.7 Strategy and vision

4.8 Trends

4.9 Corporate governance

4.10 Dependency of patents, licenses or specific agreements etc.

4.11 Major contracts

4.12 Legal and arbitration proceedings related to the business

5. HISTORICAL FINANCIAL INFORMATION

5.1 Selected financial information for Techstep Group

5.2 Auditing of historical annual information

6. UNAUDITED PRO FORMA FINANCIAL INFORMATION

6.1 Background to the preparation of unaudited pro forma financial information

6.2 Sources of unaudited pro forma information

6.3 Basis for preparation of the unaudited pro forma financial information

6.4 Unaudited pro forma condensed financial information – income statement for the twelve months ending 31 December 2015.

6.4.1 Notes to the unaudited pro forma financial information

Notes to the IFRS conversion of Teki Solutions AS

Note 1a Consolidation of subsidiaries

Notes to the pro forma adjustments

Note 1b Sale of Birdstep Technology AB and the closing down of Birdstep Technology Inc.

Note 2b Pro forma adjustments of financial items Zono AS

Note 3b Pro forma adjustments of financial items Teki Solutions AS

6.4.2 Independent assurance report on unaudited pro forma financial information

6.5 Unaudited pro forma condensed financial information 2016

6.5.1 Unaudited pro forma condensed financial information 2016 – income statement for the six months ending 30 June 2016

6.5.2 Unaudited pro forma condensed financial information – balance sheet as of 30 June 2016

6.5.3 Notes to the unaudited pro forma financial information

Notes to the IFRS conversion of Teki Solutions AS

Note 1a Consolidation of subsidiaries

Notes to the pro forma adjustments

Note 1b Sale of Birdstep Technology AB and the closing down of Birdstep Technology Inc.

Note 2b Pro forma adjustments of financial items Zono AS

Techstep ASA Audit Report / Information 2016

RAPPORT ÖVER
FÖRÄNDRING I EGET KAPITAL

Birdstep Technology AB
556598-2690