Reference is made to ECIT AS' ("ECIT" or the "Company") announcement no. 252 of 4 September 2024 regarding the launch of a recommended voluntary offer (the "Offer") from Olympus BidCo AS to acquire all outstanding B- and C- class shares in ECIT against NOK 10 per share settled in cash and/ or share consideration, as further described in the offer document dated 4 September (the "Offer Document").
Reference is further made to the stock exchange announcement no. 262 dated 17 October 2024, regarding the settlement notification for the Offer. As stated in the settlement notification, the settlement will take place no later than 7 November 2024.
The following persons discharging managerial responsibilities in ECIT (the "PDMR") and their closely associated persons (the "PCA"), as listed below, have accepted the Offer to sell all their shares in ECIT to Olympus Bidco AS at a price of NOK 10.00 per share and/or committed to sell or contribute their shares in ECIT to Olympus Bidco AS outside of the Offer at the same price per share. The transactions will be settled partly in cash, and partly by the sellers issuing a vendor loan to be converted to shares in Olympus TopCo AS (reinvestment), as described in Company's announcement No. 252 of 4 September 2024 and the Offer Document.
Seller (PDMR or PCA) PDMR No. of shares sold/ share-class
Peter Lauring Peter Lauring 1,172,000 B-shares
Nykredit Pensjon Peter Lauring 320,000 A-shares
Sophia Katarina GludLauring Peter Lauring 10,000 B-shares
CGL Holding AS Peter Lauring 4,631,128 A-shares
CGL Holding II AS Peter Lauring 36,384,940 A-shares
CGL Holding II AS Peter Lauring 100,000 B-shares
Plenborg Holding ApS Thomas Plenborg 2,093,129 C-shares
Karl Emil Plenborg Thomas Plenborg 9,000 B-shares
Pedro Fasting Pedro Fasting 2,500 B-shares
Fasting & Comrades AS Pedro Fasting 749,653 B-shares
Varner Kapital AS Espen Karlsen 25,000,000 B-shares
Rodvang Holding AS Linda Forberg 1,081,481 B-shares
Mile High Invest AS Cato A. Holmsen 3,104,362 B-shares
Y-Not ApS Klaus Jensen 211,095 B-shares
Y-Not ApS Klaus Jensen 14,840,253 C-shares
Smilla Jensen Klaus Jensen 12,500 B-shares
Elias Jensen Klaus Jensen 12,500 B-shares
Altair AS Christian Bjørnstad 375,000 B-shares
Jes Schjøtler Jes Schjøtler 750,000 B-shares
Mads Skovgaard Mads Skovgaard 562,500 B-shares
Mikkel Walde Holding ApS Mikkel Walde 279,742 B-shares
Mikkel Walde Holding ApS Mikkel Walde 16,776,676 C-shares
Sigrid H. S. Walde Mikkel Walde 6,055 B-shares
Sofus H. S. Walde Mikkel Walde 3,755 B-shares
Sewell AS Halvor S. Aspaas 4,851,139 B-shares
Yttreeide AS Morten A. Yttreeide 380,000 B-shares
Please see the enclosed forms for further details about the transactions.
After the abovementioned transactions, no PDMRs or PCAs own any shares in ECIT. However, PDMRs, including PCAs, hold the following number of warrants to shares in ECIT (the "Warrants"):
PDMR (incl. PCA) No. of Warrants
Peter Lauring 1,540,000
Thomas Plenborg 420,000
Pedro Fasting 262,500
Espen Karlsen 210,000
Linda Forberg 535,000
Cato Andreas Holmsen 210,000
Klaus Jensen 770,000
Christian Bjørnstad 105,000
Mads Skovgaard 490,000
Mikkel Walde 490,000
Halvor Sewell Aspaas 376,000
Morten André Yttreeide 376,000
For description of “Warrants”, reference is made to Company announcement no. 90 regarding incentive plan.
For further information please contact
Mads Skovgaard, Group CFO
mskovgaard@ecit.com
+45 2780 4942
About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll, and IT services. ECIT has a proven model for acquisitions, combining proximity to customers, local entrepreneurship and the strength of a larger international group. ECIT has a full-year proforma revenue of 3.8 billion NOK per H1 2024 and more than 2,500 employees across ten countries. M&A has been key to drive the Company's growth as ECIT has completed more than 135 acquisitions since 2013. Read more at www.ecit.com.
This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.
