ECIT AS - Initiation of a share buyback program

17 Nov 2022 08:05 CET

Company announcement No. 114

ECIT AS has decided to initiate a share buyback program of up to 4,000,000 of
its own shares to a maximum amount of 4,000,000 NOK. The program shall be
carried out in the period from this announcement and until 22 December 2022 at
the latest.

The number of shares acquired per day shall not exceed 25% of the average daily
trading volume in the 20 trading days preceding the relevant date of purchase.

The purpose of the program is to acquire shares that can be used as settlement
in the Company's incentive plan for employees, management and board members, as
announced in a separate stock exchange notice by the Company on 23 August 2022
in company announcement no 90. Furthermore, shares acquired under the program
may be applied as part settlement measure in ECITs acquisitions of companies
according to ECITs growth targets and general corporate purposes.

The share buybacks will be made in accordance with the authorization granted to
the board of directors by the Company's annual general meeting held on 8 April
2022.

The share buyback program will be carried out by way of repurchases on Euronext
Growth. ECIT has engaged SpareBank 1 Markets AS to carry out the share buyback
program on behalf of the Company. Sparebank 1 Markets AS will make its trading
decisions independently of, and uninfluenced by, ECIT.

The execution of any repurchases will depend on market conditions, the buyback
program may be discontinued at any time and the Company may resolve to terminate
the buyback program before the threshold set out above is reached.

The share buyback program will be carried out in accordance with the Market
Abuse Regulation (EU) No 596/2014 ("MAR") and the principles of Commission
Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").


For further information please contact:

Iselin Paulsen, Head of Communication Mads Skovgaard, Group CFO
Iselin.paulsen@ecit.com mskovgaard@ecit.com
+47 901 40 166 +45 2780 4942

DISCLOSURE REGULATION

This is information made public by the Company pursuant to MAR and subject to
the disclosure requirements pursuant to Section 5-12 the Norwegian Securities
Trading Act.


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. Read more at www.ecit.com

More information:
Access the news on Oslo Bors NewsWeb site

575982_ECIT_StockExchangeRelease_No114_sent.pdf