Grant of share warrants / Mandatory notification of Trade Primary Insiders. Company announcement No. 124

Reference is made to Company announcement No. 90, where the Board resolved to implement an incentive plan (the "Incentive Plan") for employees, management and board members of ECIT and its subsidiaries.

In connection with the share warrant programme, the following transactions have been made by primary insiders “PDMRs” in ECIT:


Date PDMR Warrants granted
13.01.23 Pedro Fasting 93,750
13.01.23 Mikkel Walde 140,000
13.01.23 Klaus Jensen 275,000
13.01.23 Halvor Aspaas 140,000
13.01.23 Morten Yttreeide 140,000

After the abovementioned transactions, the following PDMRs total number of shares (all share classes), including the shares owned by their closely associated persons, are as follows:

Pedro Fasting 752,153 shares and 93,750 warrants
Mikkel Walde 15,804,569 shares and 140,000 warrants
Klaus Jensen 15,015,253 shares and 275,000 warrants
Halvor Aspaas 3,812,487 shares and 140,000 warrants
Morten Yttreeide 350,000 shares and 140,000 warrants

The share warrants will have a strike price of NOK 6.95 per share, based on a volume weighted average price “VWAP” for the last 3 months up until the date of offer. The terms for The Warrants Plan are as described in the “Incentive Plan” in Company announcement no. 90.

The remaining incentive units described in the “Incentive Plan” will be distributed later.


About ECIT

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 integration, ensuring proximity to customers and local entrepreneurship combined with the strength of a larger international group. ECIT has a proforma revenue (2021) of 2.6 billion NOK and +2,300 employees across 10 countries. M&A has been a key driver of the Company's growth and ECIT has completed more than 130 acquisitions since 2013.