25 August 2021

Vitec carries out a directed issue of 2,000,000 shares of series B and raises proceeds of SEK 920 million

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The Board of Directors of Vitec Software Group AB (publ) ("Vitec" or the "Company") has, based on the authorisation granted by the Annual General Meeting on 28 April 2021, resolved on a directed issue of 2,000,000 shares of series B at a price of SEK 460 per share (the “Share Issue”). The Company will thereby receive proceeds of SEK 920,000,000 before transaction costs. The price in the Share Issue has been determined through a so-called accelerated book building process led by Nordea Bank Abp, filial i Sverige (“Nordea”) and Skandinaviska Enskilda Banken AB (“SEB”) and corresponds to a discount of approximately 5 percent in relation to the closing price on 25 August 2021.

The Share Issue was directed to Swedish and international professional and institutional investors and was significantly oversubscribed. In order to facilitate the settlement of the Share Issue, the new shares of series B were initially subscribed by SEB at an amount corresponding to the nominal/quota value of the shares. In connection with payment from the investors in the Share Issue on or around 31 August 2021 the Company will receive the remaining amount, i.e. the difference between the nominal/quota value and the price in the Share Issue. In connection with the Share Issue, the Company has undertaken towards Nordea and SEB, with customary exceptions including e.g. exceptions for share issues of consideration shares in connection with acquisitions, not to issue additional shares for a period of 90 calendar days after the settlement date of the Share Issue on or around 31 August 2021.

The Company intends to use the net proceeds from the Share Issue to continue its growth strategy with acquisitions of and investments in companies, operations, product rights or other assets that complement the business. The reasons for deviating from the shareholders’ preferential rights are mainly to raise capital in a time- and cost-efficient manner and at the same time further diversify the shareholder base among Swedish and international institutional investors. The Board of Directors’ assessment is that the subscription price in the Share Issue is on market terms since, inter alia, it was determined through an accelerated bookbuilding process.

As a result of the Share Issue, the total number of shares in Vitec will increase from 33,033,902 shares to 35,033,902 shares divided on 3,050,000 shares of series A and 31,983,902 shares of series B. The Company's share capital increases from SEK 3,303,390.20 to SEK 3,503,390.20. The Share Issue entails a dilution of approximately 5.7 percent and 3.2 percent in relation to the total number of shares and votes in the Company, respectively, after the Share Issue.

Advisors

Nordea and SEB are Joint Global Coordinators in connection with the Share Issue. Hannes Snellman Attorneys Ltd is legal advisor to Vitec and White & Case Advokat AB is legal advisor to the Joint Global Coordinators in connection with the Share Issue.

For more information, please contact

Olle Backman, CEO, olle.backman@vitecsoftware.com, +46 70 632 89 93

Patrik Fransson, Investor Relations, patrik.fransson@vitecsoftware.com, +46 76 942 85 97

This information is information that Vitec Software Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 22:30 CEST, 25 August 2021.

About Vitec

Vitec is market leader for Vertical Market Software in the Nordic region. We develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. The Group's overall processes together with the employees' in-depth knowledge of the customer's local market enables continuous improvement and innovation. Our 975 employees are based in Denmark, Finland, Norway and Sweden. Vitec is listed on Nasdaq Stockholm and had net sales of SEK 1,313 million in 2020. Find more at www.vitecsoftware.com.

Important information

This press release does not constitute an offer to, or an invitation to, acquire or subscribe for any securities in Vitec in any jurisdiction, neither from Vitec, Nordea, SEB or anyone else. Copies of this press release will not be produced and may not be distributed or sent to the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where such distribution would be illegal or require registration or other action. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction.

This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in Vitec’s shares. Any investment decision in connection with the Share Issue must be made on the basis of all publicly available information relating to the Company and the Company’s shares. Such information has not been independently verified by Nordea or SEB. The information contained in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness. Nordea and SEB are acting for the Company in connection with the Share Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation to the Share Issue or any other matter referred to herein.

This press release does not constitute a recommendation concerning any investor’s decision with respect to the Share Issue. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and information described in this press release and all publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. Vitec has not authorized any offer to the public of shares or other securities in any member state of the EEA and no prospectus has been or will be prepared in connection with the Share Issue. In any EEA Member State, this communication is only addressed to and is directed at qualified investors and corresponding investors in that Member State within the meaning of the Prospectus Regulation.

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