Correction: Mandatory notification of trade – primary insider

Correction: Multiconsult ASA has amended its 3 December 2025 disclosure to add a previously omitted primary insider, Magnus Sørensen (Director - Employee elected), who purchased 550 shares and now holds 1,615 shares. The shares were acquired under the company’s employee purchase programme at NOK 132.1703 per share (a 20% discount to the volume‑weighted average price of NOK 165.2129 for 4–10 Nov 2025) and are subject to a two‑year lock‑up. Following the employee transactions, Multiconsult holds 119,126 own shares (0.43% of share capital); the filing complies with Market Abuse Regulation article 19 and Norwegian Securities Trading Act disclosure requirements.

Analysis

Multiconsult ASA issued a correction to its 3 December 2025 disclosure to add a previously omitted primary insider: Magnus Sørensen (Director - Employee elected) purchased 550 shares and now holds 1,615 shares. The shares were acquired under the company’s employee purchase programme at NOK 132.1703 per share, a 20% discount to the volume‑weighted average price of NOK 165.2129 for 4–10 November 2025.

The purchased shares are subject to a two‑year lock‑up and, after the employee transactions, Multiconsult holds 119,126 treasury shares, representing 0.43% of share capital. The filing cites compliance with Market Abuse Regulation article 19 and Norwegian Securities Trading Act disclosure requirements, indicating proper regulatory remediation of the omission.

Market signals attached to the release are neutral with a very small reported market impact (0.05), reflecting that this is a routine employee participation disclosure rather than material corporate news. The 20% discount and lock‑up point to compensation/retention mechanics rather than an immediate valuation endorsement; the transaction size and treasury share percentage imply limited near‑term capital‑structure or liquidity effects, though patterns of further insider activity could change that view.

Key Decisions for Investors

• Do not initiate trades based solely on this correction; the 550‑share disclosure and 0.43% treasury holding suggest minimal immediate market impact
• Monitor aggregate insider activity and any additional disclosures, as repeated or larger insider purchases/sales would be a more meaningful signal than this single, small transaction
• Track the two‑year lock‑up expiries for employee‑purchased shares as potential future supply events that could affect free float and liquidity
• Consider this purchase primarily a governance/retention signal due to the 20% discount; maintain existing positions unless forthcoming operational or financial updates provide a clearer catalyst