NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER
MEASURES. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.
Lysaker, 1 June 2026: Reference is made to the stock exchange announcement
published by Borgestad ASA (the "Company") on 27 May 2026 regarding the launch
of an offer to buy back own shares for a total consideration of up to NOK
1,530,000 (the "Offer"), and to the announcement published on 1 June 2026
regarding the status of the bookbuilding and fixing of the purchase price at NOK
17 per share (the "Offer Price").
The application period in the Offer commenced at 09:00 hours (CEST) on 27 May
2026 and was originally set to expire at 16:30 hours (CEST) on 1 June 2026.
The Company has been informed that Arctic Securities AS (the "Manager") has
received sales orders such that the Offer is oversubscribed at the Offer Price.
On the back of the strong interest in the Offer, the Company has resolved to
increase the maximum aggregate consideration under the Offer from NOK 1,530,000
to NOK 3,060,000 at the Offer Price, and to extend the application period until
16:30 hours (CEST) on 2 June 2026.
Notification of allocation is expected to be distributed to shareholders having
been allocated sale shares in the Offer on 3 June 2026 (T), with settlement
expected on 5 June 2026 (T+2) on a normal delivery-versus-payment (DVP) basis.
For further information, please contact:
Pål Feen Larsen, CEO of Borgestad ASA
Tel.: +47 48 84 53 33
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This stock exchange announcement is published in accordance with section 5-12 of
the Norwegian Securities Trading Act.
About Borgestad | www.borgestad.no
Borgestad ASA (OSE:BOR) is an investment company focused on real estate and
industry. The key investments include 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.
IMPORTANT NOTICE
The Offer will be carried out in accordance with applicable laws and regulations
and information pertaining to the Offer will be disclosed by way of stock
exchange notices.
The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions
(including, but not limited to, the United States, Canada, Australia and Japan).
None of the Company or the Manager assume any responsibility in the event there
is a violation by any person of such restrictions. This includes shareholders
who have changed their domicile to such jurisdictions but which may access their
ES-OSL accounts. Persons into whose possession this announcement or relevant
information should come are required to inform themselves about and to observe
any such restrictions.
The Offer is not being made directly or indirectly in, or by use of the mails
of, or by any means or instrumentality of interstate or foreign commerce of, or
any facilities of a national securities exchange of, the United States of
America, its territories and possessions, any State of the United States and the
District of Columbia (the "United States") or any other jurisdiction in which
this would be unlawful, require registration or other measures. This includes,
but is not limited to, facsimile transmission, internet delivery, e-mail and
telephones. Copies of this release and any related documents are not being, and
must not be, mailed, e-mailed or otherwise distributed or sent in or into the
United States or any such jurisdiction and so doing may invalidate any purported
offer and acceptance.
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United States or any such jurisdiction and so doing may invalidate any purported\
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