ECIT : End of stabilisation period and partial exercise of greenshoe option

ECIT AS: End of stabilisation period and partial exercise of greenshoe option
Company announcement No. 18


NOT FOR DISTRIBUTION, RELEASE OR REPUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S.
NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION,
RELEASE OR REPUBLICATION WOULD BE UNLAWFUL.
Oslo, 18 June 2021: Reference is made to the stock exchange release by ECIT AS
(the "Company" or "ECIT") on 20 June 2021, regarding potential stabilisation
activities in connection with a private placement in the Company (the
"Offering") and the admission to trading of the Company's shares on Euronext
Growth Oslo.
Arctic Securities AS (the "Stabilisation Manager"), acting as stabilisation
manager in connection with the Offering on behalf of the Managers (as defined
below), hereby gives notice that the stabilisation period has ended.
Stabilisation activities have been undertaken on Euronext Growth Oslo from and
including 20 May 2021 to and including 18 June 2021. A total of 5,606,519 shares
in the Company have been purchased as part of the stabilisation activities. The
shares were purchased at a volume weighted average price of NOK 7.9630 per share
and within the daily price ranges set out in the attached stabilisation notice. 

In order to permit redelivery of 6,250,000 shares in the Company which were
borrowed from Anglo Supply AS (the "Share Lender"), the Stabilisation Manager,
on behalf of the Managers, has on 18 June 2021 informed the Company that it will
exercise the greenshoe option partly to subscribe and purchase shares in the
Company from ECIT. 643,481 new shares in the Company will be subscribed and
purchased from the Company under the greenshoe option at the offer price of NOK
8 per share.

The shares subscribed and purchased under the greenshoe option will together
with the shares purchased through stabilisation activities be redelivered to the
Share Lender in accordance with the terms of the share lending and greenshoe
option agreement entered into between the Company, the Share Lender and the
Managers in connection with the Offering.

ABG Sundal Collier ASA and Arctic Securities AS acted as Joint Global
Coordinators and Joint Bookrunners for the Offering (the "Managers"). 
For further information, please contact:

Arctic Securities AS
Joakim Hald Andersen
Tel: [phone]

This information is subject of the disclosure requirements pursuant to
Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 sections 6 (3)
and 8.

Important Notice: 
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions. The
securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering or its
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the Securities Act. 
In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129 as amended together with any applicable
implementing measures in any Member State. This communication is only being
distributed to and is only directed at persons in the United Kingdom that are
(i) investment professionals falling within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Order") or (ii) high net worth entities, and other persons to whom this
announcement may lawfully be communicated, falling within Article 49(2)(a) to
(d) of the Order (all such persons together being referred to as "relevant
persons"). This communication must not be acted on or relied on by persons who
are not relevant persons. Any investment or investment activity to which this
communication relates is available only for relevant persons and will be engaged
in only with relevant persons. Persons distributing this communication must
satisfy themselves that it is lawful to do so. 
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.
Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operates, the
Company's ability to attract, retain and motivate qualified personnel, changes
in the Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
document. 
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.
The Company does not undertake any obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of this
announcement. Neither of the Joint Global Coordinators nor any of their
respective affiliates makes any representation as to the accuracy or
completeness of this announcement and none of them accepts any responsibility
for the contents of this announcement or any matters referred to herein. 
This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the Joint
Global Coordinators nor any of their respective affiliates accepts any liability
arising from the use of this announcement. 


Any questions may be addressed to COO Christine Lundberg Larsen,
[e-mail], [phone]

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange