ECIT AS - Initiation of a share buyback program

14 Mar 2023 07:40 CET

Company announcement No. 133

ECIT AS ("ECIT" or the "Company") has decided to initiate a share buyback
program of up to 3,000,000 of its own shares. Under the share buyback program,
shares may be acquired for a total maximum amount of NOK 3,000,000. The program
shall be carried out in the period from this announcement and until 8 May 2023
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").

About ECIT
Founded in 2013, ECIT supports a large customer base with accounting, payroll,
and a broad range of IT services. ECIT has a 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
(2022) of 3.0 billion NOK and +2,300 employees across nine countries. M&A has
been a key driver of the Company's growth and ECIT has completed more than 135
acquisitions since 2013. Read more at www.ecit.com


For further information, please contact

Mads Skovgaard, Group CFO
mskovgaard@ecit.com
+45 2780 4942

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