Sitowise Group Plc issues 44,843 own shares in a directed issue

Sitowise Group Plc Stock Exchange Release 1 June 2022 at 2 p.m. (EET)

Sitowise Group Plc issues 44,843 own shares in a directed issue

On 31 May 2022, the Board of Directors of Sitowise Group Plc (“Sitowise”) decided, by virtue of the authorisation granted by the annual general meeting on 20 April 2022, to issue in a directed issue 44,843 own Sitowise shares which it holds (the “Shares”). The number of Shares to be subscribed for in the share issue (the “Share Issue”) corresponds to approximately 0.13 per cent of shares in Sitowise.

The Share Issue relates to an acquisition of the share capital of E60 Elkonsult Aktiebolag, a company providing consulting services in the electricity sector with projects comprising services such as electrical design, calculations and inspections of electrical installations and therewith related activities (the “Acquisition”). The Share Issue will be directed to Bonum Vitae AB, the seller of E60 Elkonsult Aktiebolag (the “Seller”) as a part of the Acquisition through which the Seller will use a portion of the purchase price to subscribe for Shares in the Share Issue. The completion of the Acquisition has taken place on 1 June 2022.

The subscription price per Share is approximately EUR 5.85. The subscription price is based on the average volume weighted trading price of the Sitowise's share on Nasdaq Helsinki Ltd stock exchange during the period of 6 April 2022 to 19 May 2022. The subscription of Shares shall be made and paid by 1 June 2022.

Of the total amount of subscribed Shares, 38,864 Shares shall be subject to a transfer restriction for a period of 12 months from the completion date of the Acquisition. The remaining 5,979 subscribed Shares shall be subject to a transfer restriction for a period of 36 months from the completion date of the Acquisition.

The Board of Directors of Sitowise considers that the Acquisition supports the Sitowise Group’s growth and implementation of its strategy, in addition to which the purpose of the Share Issue is to engage the Seller to Sitowise after the Acquisition. Therefore, there is a weighty financial reason for the directed Share Issue.

The Shares are expected to be transferred to the Seller by on or about 3 June 2022 at the latest. After the Shares issued pursuant to the Share Issue have been conveyed, Sitowise holds a total of 112,261 own shares, corresponding to approximately 0.32 per cent of all shares in Sitowise.

Sitowise Group Plc

Board of Directors

Additional information:

Minttu Vilander, Chief Communications and Corporate Responsibility Officer, Sitowise Group Plc, tel. +358 40 575 6660

Distribution:

Nasdaq Helsinki
Major media
www.sitowise.com

Information about Sitowise

Sitowise is a Nordic specialist and digitalist in the built environment. We offer design and consulting services for smarter and more sustainable urban development as well as smooth transportation. We operate in three business areas in Finland and Sweden: real estate and buildings, infrastructure, and digital solutions.

We want to raise the bar of being smart and sustainable, which is why our vision is to be the most responsible partner in developing a prosperous living environment. Sitowise has grown rapidly and profitably in the past years. The group’s net sales were EUR 179 million in 2021 and the company employs over 2,000 experts. Sitowise Group Plc is listed on Nasdaq Helsinki as SITOWS. www.sitowise.com