Techstep ASA — Major Shareholding Notification 2022

Oct 3, 2022

Disclosure of large shareholdings

Disclosure of large shareholdings

On 30 of September 2022 Middelborg Invest AS and its associated company Zono Holding AS, has sold 675 413 shares in Techstep ASA, bringing the combined holding of shares and forward contracts in Techstep ASA of Middelborg Invest AS and Zono Holding AS below the 15% threshold from 15.2% to 14.9% of the shares and votes in Techstep ASA.

In addition Middelborg Invest has sold 14 200 000 shares and entered into a corresponding forward contract bringing the holding of shares in Middelborg Invest AS below the 10% and 5% threshold from 10.7% to 4.1% of the shares and votes in Techstep ASA, and the holding of forward contracts above the 5% threshold from 2.8% to 9.5% of the shares and votes in Techstep ASA, but otherwise keeping the combined holding of shares and forward contracts at 13.6%. This will also bring the combined holding of Middelborg Invest AS and Zono Holding AS of shares below the 10% threshold from 12,0% to 5.4% of the shares and votes in Techstep ASA.

Reference is also made to the stock exchange notice from Techstep ASA on 29 September 2022 where the unconditional part of the ongoing equity issue (“Tranche 1”) of 38 985 520 shares is expected to be registered in the Norwegian company register on or about 3 of October 2022. Following the register of such shares the combined holdings of Middelborg Invest AS and Zono Holding AS in shares will fall below the 5% threshold form 5.4% to 4.5%.

Following the transactions described above Middelborg Invest AS holds 8 641 228 shares and 20 214 300 forward contracts, and Zono Holding AS holds 4 330 859 shares in Techstep ASA. This corresponds to a combined total (adjusted for intra group share-loans) of 5.4% for shares and 9.5% for forward contracts and 14.9% combined of the outstanding shares and votes in Techstep ASA, before the shares of Tranche 1 is registered. And corresponds to a combined total (adjusted for intra group share-loans) of 4.5% for shares and 8.0% for forward contracts and 12.6% combined of the outstanding shares and votes in Techstep ASA after the shares of Tranche 1 has been registered.