Changes to share capital registered. Company announcement No. 57.
Reference is made to the stock exchange notice (51) by ECIT AS on January 10th,
The amendment to the Articles of Association in relation to the capital increase
of NOK 1,403,743 was unanimously approved at the Board meeting on
10th January 2022.
1,403,743 new Class B shares at par value NOK 1.00 are issued as settlement for
a portion of the consideration for ECIT AS’ purchasing shares in subsidiaries.
The increase of share capital is now registered in The Brønnøysund Register
The share capital is increased from NOK 446,926,358 to NOK 448,330,101, by
issuing of 1,403,743 B-shares, each with a nominal value of NOK 1,00.
The new class B-shares are valued as follows:
No. of shares Price per share Lock-up period
100,000 8.14034 36 months
1,303,743 7.48000* 12 months**
The average price per share equals NOK 7.52704.
* This price is agreed to correspond to VWAP of December 2021 less 6,5%, however
VWAP may not be calculated as less than NOK 8.00 per share. The price per share
therefore corresponds to NOK 8.00 per share less 6,5%
** Correction of information in stock exchange notice (51), where information
was given that no lock-up applied to these shares.
The distribution of shares will, after the capital increase, be as follows:
• Class A: 41,336,068 shares.
• Class B: 342,052,750 shares.
• Class C: 64,941,283 shares.
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
For further information please contact
Iselin Paulsen, Communication
+47 901 40 166
Mads Skovgaard, Group CFO
+45 2780 4942
ECIT was founded in 2013 and support a large customer base with accounting,
payroll, and a broad range of IT services. ECIT has a well-proven model for
acquisition and business integration, ensuring proximity to customers and local
entrepreneurship combined with the strength of a larger international group.
ECIT has a proforma revenue (2021) of over NOK 2.5 billion and plus 2,100
employees across 9 countries. M&A has been a key driver of the Company's growth
and ECIT has completed more than 100 acquisitions since 2013. For more
information about ECIT, please visit www.ecit.com.
Iselin is Head of communication and media relations in ECIT Group, and assists with Investor Relations. She has over 20 years of experience from strategic communication and stakeholder management in public and private sectors and advises top management on communications, PR and investor relations. Iselin is passionate about improving Nordic competitiveness through stronger emphasis on competencies, innovation and sustainability across private and public sector.Read more articles from Iselin Paulsen