Changes to share capital registered. Company announcement No. 37

Reference is made to the stock exchange notice(34)by ECIT AS on17thOctober 2021.    

The amendment to the Articles of Association in relation to the capital increase of NOK 381,626 was unanimously approved at the Board meeting on 15 October 2021.    

381,626 new Class B shares at par value NOK 1.00 are issued as settlement for a portion of the consideration for ECIT AS’ purchase of 50.1% of the shares in Peritus AS.   

The changes are now registered in the Norwegian Business Register.   

The share capital is increased from NOK 444,996,631 by NOK 381,626 to NOK 445,378,257 by issuing 381,626 new B shares, each with a nominal value of NOK 1.   

The ECIT shares are valued at NOK 9,51126 per share, total NOK 3,629,745. The price corresponds to VWAP of the calendar month before the transaction less 5%. The share capital is as mentioned increased from NOK 444,996,631 to NOK 445,378,257.   

Shares issued under this transaction is subject to a 12-month lock-up period. 

The shares are divided between three share classes and the distribution of shares is as follows:   

  • Class A, 41,336,068 shares.   
  • Class B, 339,100,905 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.   

About ECIT

ECIT was founded in 2013 and supports a large customer base with Accounting, Payroll and a broad range of IT services and solutions. ECIT has a well-proven model for acquisition and integration, ensuring proximity to customers and local entrepreneurship combined with the strength of being a larger international group. ECIT has a proforma revenue (2021) of 2.55 billion NOK and +2,200 employees across 10 countries. M&A has been a driver of the Company's growth and ECIT has completed more than 125 acquisitions since 2013.

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