As stated in the company announcement 201 of 9 November 2023 ECIT is increasing its ownership in subsidiaries by purchasing shares in subsidiaries. Consideration for shares in subsidiaries is partly settled in cash and partly settled with shares in ECIT AS. Cash consideration will be settled at the respective transaction date for the purchase of the subsidiary shares, and the consideration paid in ECIT AS shares will be settled during December 2023, at a date yet to be specified.
In connection with ECIT purchasing shares in subsidiaries, the following companies closely associated to primary insiders “PDMR” have, on 29 November 2023, accepted consideration in ECIT AS shares, and has thus acquired options to purchase or subscribe shares in ECIT AS, as follows:
Number of options
Mikkel Walde Holding ApS
Rodvang Holding AS
One option gives the right to subscribe or buy one B-share or C-share in ECIT AS at a price per share of NOK 7.00. The shares shall be subject to a lock-up of three (3) years. Consideration for the ECIT AS shares is to be offset against payment for shares in subsidiaries.
After the above mentioned transactions, the following PDMRs total number of shares (all share classes), including the shares owned by their closely associated persons, are as follows:
Mikkel Walde 15,814,379 shares, 340,000 warrants, and 1,251,849 buy options
Linda Forberg 1,006,635 shares, 392,500 warrants, and 81,481 buy options
Halvor Sewell 3,812,487 shares, 266,000 warrants, and 1,038,652 buy options
For description of “Warrants”, reference is made to Company announcement no. 90 regarding incentive plan.
For further information please contact
Mads Skovgaard, Group CFO
+45 2780 4942
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 3.5 billion NOK per Q3 2023 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 130 acquisitions since 2013. Read more at www.ecit.com.