Dovre Group pays additional consideration for the Tech4Hire acquisition and directs a share issue to the sellers of Tech4Hire

Dovre Group Plc                   Stock exchange release                              Feb 19, 2020 at 5.00 pm

Dovre Group pays additional consideration for the Tech4Hire acquisition and directs a share issue to the sellers of Tech4Hire

Dovre Group has decided on 19 February 2020 on the payment of additional purchase price of NOK 10.3 million (approximately EUR 1 million) to the sellers of Tech4Hire. The additional purchase price is paid because the financial targets of Tech4Hire required for the payment of the additional purchase price were met by the end of 2019. A part of the additional consideration shall be used to subscribe for new shares in Dovre Group Plc. Consequently, the Board of the Directors of Dovre Group Plc has decided, based on the authorisation granted by the Annual General Meeting of 2019, on a directed share issue to the sellers of Tech4Hire.

Dovre Group issues 1,009,747 new shares to the Tech4Hire sellers. The subscription price per share is 0.34 euros and the total subscription price is 343,314.00 euros. The share subscription price is based on the volume-weighted average price of Dovre Group shares on Nasdaq Helsinki between 7 February 2020 and 13 February 2020. The subscription price will be recorded in its entirety in the Company’s invested non-restricted equity. The new shares will bear the same shareholder rights as the other shares in the company from the day of registration. The number of Dovre Group’s shares will increase to 102,956,494 shares.

The new shares will be entered in the Trade Register on or about 27 February 2020, and trading of the new shares is expected to commence on Nasdaq Helsinki on 28 February 2020.

More information on Dovre Group’s Tech4Hire acquisition is available on the company’s stock exchange release issued on 25 June 2019.

For additional information, please contact:

Dovre Group PLC

Arve Jensen

CEO



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Mari Paski

CFO



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Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. Dovre Group has offices in Canada, Finland, Norway, Russia, Singapore and the US, and employs more than 650 people worldwide. Dovre Group is listed on the Nasdaq Helsinki (symbol: DOV1V). Website: