Borgestad, 11 December 2023: Reference is made to the stock exchange
announcement by Borgestad ASA (the "Company" and, together with its consolidated
subsidiaries, the "Group") published on 27 October 2023 regarding the
conditional agreement entered into with Bjuv municipality in Sweden for the sale
and leaseback of two properties in Sweden, where the Group's production plant
and other production facilities for refractory products are located (the
"Transaction").
The municipal council of Bjuv has today approved the Transaction. The approval
may be appealed within a three-week period and will only become binding when the
appeal period has expired without any appeals having been made, or when any
appeals have been finally resolved. The appeal period begins when the minutes
from the decision of Bjuv municipality is published. The completion of the
Transaction is conditional upon the approval having become binding, and the
satisfaction of certain other customary closing conditions, and is expected to
take place in the first quarter of 2024.
The initial (non-binding) approval of the Transaction from the municipal council
of Bjuv received today is one of the conditions for the completion of the
private placement of new shares in the Company announced on 6 November 2023, as
well as completion of the subsequent repair offering in the Company. The
relevant condition for completion is consequently fulfilled.
For more information, please contact:
Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Pål Feen Larsen, CEO in
Borgestad ASA on 11 December 2023 at 22.00 hrs CET on behalf of the Company.
About Borgestad|www.borgestad.no
Borgestad ASA (OSE:BOR) is an investment company focused on real estate and
industry. The key investments include the Agora Bytom shopping center and the
leading refractory manufacturer Höganäs Borgestad.
About Höganäs Borgestad | www.hoganasborgestad.com
Höganäs Borgestad develops, manufactures and delivers refractory products,
installations and turnkey solutions that enhance the productivity and
competitiveness of industrial customers. The aim is to contribute to the
customers' profitability by providing high-value refractory solutions to their
challenges. Today, the company is a leading supplier in the refractory market of
the Nordic countries and has a global presence in a number of selected
application areas.