April 12, 2022: The Board of Directors of Elop AS (the "Company") has
implemented a share purchase program for employees in the Company and its
Norwegian and German subsidiaries (the "Employee Share Purchase Program"), on
the basis of the authorization granted to the Board of Directors by the annual
general meeting of the Company on 21 April 2021.
The participants in the Employee Share Purchase Program has been offered to
acquire shares in the Company for an amount of between NOK 16,000 and NOK
160,000 each. The shares has been offered at a price based on the volume
weighted average share price for the Company's shares on the Oslo Stock Exchange
during the application period, with a discount of 20% on the aggregate
investment amount. The offer price for the shares in the Employee Share Purchase
Program has been set to approximately NOK 2.234 per share (the "Offer Price").
Any shares acquired in the Employee Share Purchase Program will be subject to a
lock-up period of two years, and the reduced offer price shall reflect the
value-reducing effect of the lock-up period.
The application period in the Employee Share Purchase Program was from 5 April
2022, at 09:00 hours (CEST) to 16:00 hours (CEST) on 12 April 2022. Shares
acquired in the offer will be settled in the form of treasury shares held by the
Based on the applications received in the Employee Share Purchase Program, the
Company has allocated a total of 561 916 shares to the participants in the
Employee Share Purchase Program.
For further information, please contact:
Kim Boman, CFO, tel: +47 959 63 912
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. Simplifai's Digital Employee solutions automate labour intensive
work process where natural language communication including email or documents