Reference is made to the stock exchange announcement published by Elop AS
("Elop" or the "Company") on 1 October 2021 entitled "Elop AS: Notifiable
transactions in connection with Private Placement". All capitalised terms used
but not defined in this stock exchange announcement are references to those
terms as defined in the 1 October 2021 stock exchange announcement. 

The shares borrowed by the Settlement Agent for the Private Placement have now
been redelivered to the Share Lenders. 

Two of the Share Lenders, Melandsø Invest AS and Zono Invest AS, are persons
closely associated with primary insiders in the Company Kjetil Skaget and
Kristian Lundkvist, respectively. Both Mr. Skaget and Mr. Lundkvist are members
of the board of directors of Elop. Further details regarding these redelivery
transactions are included in the attached PDMR notifications. 

In addition, the below persons have, as further detailed below and on the basis
of the new registered share capital of the Company following the completion of
the Private Placement, crossed the notifiable holdings thresholds of Section 4-2
of the Norwegian Securities Trading Act identified below:

* Melandsø Invest AS, a close associate of board member Kjetil Skaget, has
received redelivery of 12,771,081 shares from the Settlement Agent, and has
consequently crossed back above the 10% and 5% notifiable holding thresholds.
* Sogn Invest AS, a shareholder of the Company, has received redelivery of
5,186,025 shares from the Settlement Agent. Based on the new registered share
capital of Elop following the completion of the Private Placement, Sogn Invest
AS' shareholding no longer exceeds the 5% notifiable holding threshold.
* Zono Invest AS, a close associate of board member Kristian Lundkvist, has
received redelivery of 4,700,000 shares from the Settlement Agent, and will (on
a consolidated basis together with close associates) cross back above the 5%
notifiable holding threshold. 
* Tigerstaden Marine AS, a close associate of Ketil Skorstad, has received
redelivery of 2,342,894 shares from the Settlement Agent. Based on the new
registered share capital of Elop following the completion of the Private
Placement, Tigerstaden Marine AS' (together with other entities whose
shareholding is to be consolidated with Tigerstaden Marine AS for the purposes
of determining notification threshold crossing) shareholding no longer exceeds
the 5% notifiable holding threshold. 


END

For further information, please contact:

Media
Øivind Horpestad, Executive Chairman of Elop, tel: +47 910 00 626

Investors
Kim Boman, CFO of Elop, tel: +47 959 63 912

About Elop

Elop is a Norwegian holding company with two operating subsidiaries. Elop
Technology develops tools and digital solutions to inspect, monitor and manage
infrastructure worldwide using patented ultrasound technology. Through
data-driven and AI-based solutions for inspection and predictive maintenance of
concrete infrastructure, the vision is to provide asset owners with solutions
that improve safety, extend asset lifetime, minimise total lifecycle cost and
environmental footprint. Simplifai offers automation solutions using artificial
intelligence.

This information is such that Elop is required to disclose in accordance with
the EU Market Abuse Regulation. This announcement was published by Kim Boman,
CFO, Elop AS, on 13 October 2021 at 1105 CEST.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange