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    ECIT   NO0010939804

ECIT AS

(ECIT)
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ECIT : Supplement to mandatory notification of trade primary insiders

07/25/2021 | 04:38pm EDT
Supplement to mandatory notification of trade primary insiders
Company announcement No. 24


With reference to the stock exchange notice (23) made by ECIT AS on 20th July
2021 supplemental comments are to be added as follows. 
The Board of ECIT has previously decided to grant selected key-employees an
opportunity to participate in a Share Incentive Scheme (based on the Norwegian
"Kruse Smith model") where a share in ECIT can be acquired through a down
payment of minimum NOK 1.00 per share. 
If a future sales price for that share is higher than market price at the time
of purchase, the difference between NOK 1.00 (the down payment amount) and the
market price at the time of purchase must be paid to ECIT. If a future sales
price for that share is lower than the market price at the time of purchase, the
positive difference between NOK 1.00 (the down payment amount) and such sales
price must be paid to ECIT.
Hence a profit for the buyer only arises at a future sales price above market
price at the time of purchase. 
Shares bought under the Share Incentive Scheme has lock-up and other sales
restrictions applied.
The program is limited to 7 million shares of which 6.3 million shares have been
utilized (5.7 million shares utilized per first day of listing 20th May 2021). 
It is the opinion of the Board of ECIT AS that a Share Incentive Scheme for
selected key employees as well employee ownership in general increases the
alignment of interests to drive value creation in ECIT.


Any questions may be addressed to COO Christine Lundberg Larsen,
christine.larsen@ecit.com, +47 452 11 552

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2020 1 829 M 213 M 213 M
Net income 2020 121 M 14,1 M 14,1 M
Net Debt 2020 199 M 23,2 M 23,2 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 4 436 M 515 M 516 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 2 077
Free-Float 99,0%
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Income Statement Evolution
Managers and Directors
Peter Lauring Chief Executive Officer & Director
Pedro Fasting Chairman
Cato Andreas Holmsen Director
Henrik Lie-Nielsen Director
Klaus Jensen Vice President-Group
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