Compulsory acquisition of shares in ECIT AS

14 Nov 2024 17:01 CET

Company announcement No. 271

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, 14 November 2024

Reference is made to the stock exchange announcement dated 5 November 2024
regarding settlement of the recommended voluntary offer (the “Offer”) from ECIT
BidCo AS (formerly known as Olympus BidCo AS) (the “Offeror”) to acquire all
outstanding B- and C- class shares in ECIT AS (the “Company”) as set out in the
offer document for the Offer dated 4 September 2024 (the “Offer Document”).
Following settlement of the Offer and acquisition of shares committed pursuant
to the consortium agreement dated 4 September 2024, as amended, and by way of
pre-agreements to sell shares, the Offeror has acquired and holds a total of
461,776,892 shares in the Company, representing approximately 99.3% of the
outstanding share capital in the Company.

The board of directors of the Offeror has, effective from after close of trading
on Euronext Growth Oslo today, 14 November 2024, resolved to carry out a
compulsory acquisition of all remaining shares in the Company not owned by the
Offeror pursuant to section 4-26 of the Norwegian Private Limited Liability
Companies Act. As a consequence, the Offeror has assumed ownership of all shares
in the Company. The offered redemption price in the compulsory acquisition is
NOK 10 per Share, equal to the offer price in the completed Offer (the
“Redemption Price”).

Payment of the Redemption Price is expected to be made within 28 November 2024,
and a notice regarding the compulsory acquisition will be sent to all former
shareholders subject to the compulsory acquisition whose addresses are known. In
addition, the compulsory acquisition will be announced through the electronic
notice service of the Norwegian Register of Business Enterprises (Nw.:
Brønnøysundregistrene).

Any objections to, or rejections of, the Redemption Price must be made at the
latest by 23:59 (CET) on 20 January 2025. Former shareholders in the Company who
do not object to, or reject, the Redemption Price within this deadline will be
deemed to have accepted the Redemption Price.

As a consequence of the compulsory acquisition, the Offeror will pursue a
delisting of the Company’s class B shares from Euronext Growth Oslo. A separate
stock exchange announcement will be published regarding such delisting.



For further information, please contact
Mads Skovgaard, Group CFO
mskovgaard@ecit.com
+45 2780 4942


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 3.8 billion NOK per Q3 2024 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 140 acquisitions since 2013.
Read more at www.ecit.com

More information:
Access the news on Oslo Bors NewsWeb site

632290_ECIT_stockExhangerelease_No 271.pdf