Update on agreement for conditioned launch of recommended voluntary offer to shareholders of ECIT AS

30 Aug 2024 07:44 CEST

Company announcement no. 251

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, JAPAN,
HONG KONG, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.

Oslo, 30 August 2024

Reference is made to the stock exchange announcement made on 22 August 2024
regarding an extension of the deadline for fulfilment or waiver of the launch
conditions for the recommended voluntary offer from Olympus BidCo AS (the
“Offeror”) to acquire all outstanding B- and C- class shares in ECIT AS (the
“Company”) (the “Offer”).

The Offeror and the Company have today agreed to extend the date within which
the launch conditions for the Offer shall be fulfilled or waived by the Offeror
until and including 6 September 2024.

The offer document for the Offer, describing the full terms and conditions for
the Offer, will be published subject to the conditions for launch being
fulfilled or waived by the Offeror. The Offer may only be accepted based on the
offer document.

Important notice
The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions.
When published, the offer document and related acceptance forms will not and may
not be distributed, forwarded or transmitted into or within any jurisdiction
where prohibited by applicable law, including, without limitation, Canada,
Australia, New Zealand, South Africa, Hong Kong and Japan. The Offeror does not
assume any responsibility in the event there is a violation by any person of
such restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions.

This announcement is for information purposes only and is not a tender offer
document and, as such, is not intended to does not constitute or form any part
of an offer or the solicitation of an offer to purchase, otherwise acquire,
subscribe for, sell or otherwise dispose of any securities, or the solicitation
of any vote or approval in any jurisdiction, pursuant to the Offer or otherwise.
Investors may accept the Offer only on the basis of the information to be
provided in the offer document. Offers will not be made directly or indirectly
in any jurisdiction where either an offer or participation therein is prohibited
by applicable law or where any tender offer document or registration or other
requirements would apply.

Shareholders of the Company must rely upon their own examination of the offer
document. Each shareholder should study the offer document carefully in order to
be able to make an informed and balanced assessment of the Offer and the
information that is discussed and described therein. Shareholders should not
construe the contents of this announcement as legal, tax or accounting advice,
or as information necessarily applicable to each shareholder. Each shareholder
should seek independent advice from its own financial and legal advisors prior
to making a decision to accept the Offer.

For further information please contact

Mads Skovgaard, Group CFO Peter Lauring, Group CEO
mskovgaard@ecit.com peter.lauring@ecit.com
+45 2780 4942 +47 404 53 804


About ECIT
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 3.7 billion NOK per Q1 2024 and
more than 2,600 employees across ten countries. M&A has been key to drive the
Company's growth as ECIT has completed more than 135 acquisitions since 2013.
Read more at www.ecit.com.

More information:
Access the news on Oslo Bors NewsWeb site

626674_ECIT_StockExchangeRelease_No 251.pdf