Techstep ASA — M&A Activity 2016

Sep 16, 2016

Acquisition of Zono AS completed

Acquisition of Zono AS completed

Reference is made to the stock exchange notice published by Techstep ASA ("TECH" or

the "Company") on 4 July 2016 regarding the acquisition of Zono AS (the "Zono

Transaction").

The Zono Transaction, where TECH acquires 100% of the shares in Zono AS from Zono

Holding AS, has been completed and 58,181,818 consideration shares have been issued

to Zono Holding AS. The assets of Zono AS comprise 24.22% of the shares in Teki

Solutions, 5.12% of the shares in Kjedehuset AS and approximately NOK 55 million in

cash, and was valued, in total, at NOK 128 million in the transaction. Following

registration of the issuance of the consideration shares with the Norwegian Register of

Business Enterprises, the share capital of the Company will be NOK 72,422,089 divided

into 72,422,089 shares, each with a par value of NOK 1. The Zono Transaction was

approved by the Extraordinary General Meeting on 23 August 2016. The consideration

shares will not be admitted to trading on Oslo Stock Exchange until the Financial

Supervisory Authority has approved, and TECH has published, a prospectus. Pending

such approval and publication, the consideration shares will be issued in VPS with a

separate and interim ISIN.

Zono Holding AS, being owned by Middelborg Invest AS, Datum AS, Cipriano AS and

certain other financial investors, will hold 62,689,859 TECH shares representing 86.56 %

of the shares and votes in TECH (after registration, including the TECH shares owned by

Zono Holding AS prior to closing of the Zono Transaction).

This information is subject to the disclosure requirements pursuant to Section 5-12 of the

Norwegian Securities Trading Act.

For more information, please contact:

Fredrik Johansson,

COO of Techstep ASA

Mobile: +46 70 352 91 90