Oslo, 10 November 2017. Reference is made to the stock exchange announcement published earlier today, 10 November 2017, regarding the end of the stabilisation period and Arctic Securities AS' (the "Stabilisation Manager") exercise of the greenshoe option in connection with the initial public offering (the "IPO") of the shares in Webstep ASA ("Webstep", the "Company", OSE ticker code: "WSTEP").
Reiten & Co Capital Partners VII LP, represented by its general partner Reiten & Co Capital Partners VII GP Ltd, ("RCP") has pursuant to the greenshoe option today sold 1,437,253 shares in Webstep, constituting 2/3 of the over-allotted and borrowed shares in the IPO, to the Stabilisation Manager, on behalf of the managers in the IPO, at a price of NOK 24.50 per share.
In addition, the Company will as soon as possible issue 718,626 new shares, constituting 1/3 of the over-allotted and borrowed shares in the IPO, to the Stabilisation Manager for redelivery to RCP.
Following the sale of the 1,437,253 shares to the Stabilisation Manager, RCP owns 3,844,255 shares and votes in Webstep, constituting 14.65% of Webstep's current shares and votes and 14.26% of Webstep's shares and votes following the issue of the 718,626 new shares to be issued by Webstep (as a result of the dilutive effect of such share issue).
RCP is represented by Terje Bakken (board member) on the board of directors of Webstep.