Multiconsult

Multiconsult (OSE: MULTI) completes the acquisition of Erichsen & Horgen

On 8 July 2021, Multiconsult announced that it had entered into an agreement to

purchase 100% of the shares of Erichsen & Horgen AS at an enterprise value (EV)

of NOK 410.0 million, on a cash- and debt free basis based on normalised working

capital. After adjusting for working capital and net cash, the total purchase

price for the acquisition was NOK 421.8 million. The purchase price was settled

in a combination of NOK 337.5 million in cash (80%) and NOK 84.4 million in

Multiconsult shares (20%).

In this connection, Multiconsult will issue 460 129 shares (20% of the purchase

price) to the shareholders of Erichsen & Horgen AS at a share price of NOK

183.35. The share price was based on the volume weighted average share price of

Multiconsult five days prior to closing. The new shares represent approximately

1.68% of the shares in Multiconsult ASA post transaction. The new shares are

issued under authority given to the Board by the General Meeting on 19 April

2021. The cash portion of the consideration was settled by using existing cash

balances and bank loan. The transaction was based on a locked-box acquisition

model where the locked-box date (reference date) was set to 31 December 2020.

Consequently, Multiconsult will in addition to the purchase price pay total

consideration of NOK 9.1 million as locked-box compensation for the period 1

January 2021 to 16 August 2021 (the closing date). In connection with the

transaction, Multiconsult has increased the limit of its revolving credit

facility (RCF) from NOK 200 million to NOK 450 million.

The share capital increase of NOK 230 064.50 was filed with the Norwegian

is expected to take place shortly. Following registration, the share capital of

Multiconsult ASA will be NOK 13 715 261.50 divided into 27 430 523 shares, each

with a nominal value of NOK 0.5

For further information, please contact:

Investor relations:

Hans-Jørgen Wibstad, CFO & EVP

Phone: +47 916 89 661

Media:

Gaute Christensen, VP Communications

Phone: +47 911 70 188

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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