Borgestad ASA — Capital/Financing Update 2023

Dec 19, 2023

Borgestad ASA: Foreløpig resultat i reparasjonsemisjon

Borgestad ASA: Foreløpig resultat i reparasjonsemisjon

Det vises til tidligere børsmeldinger fra Borgestad ASA ("Selskapet") vedrørende en etterfølgende reparasjonsemisjon ved utstedelse av inntil 250.000.000 nye aksjer, hver pålydende NOK 0,25, til en tegningskurs på NOK 0,25 per aksje ("Reparasjonsemisjonen"), samt prospektet datert 4. desember 2023 som er tilgjengelig på Selskapets hjemmeside, https://borgestad.no/investor/ ("Prospektet").

Tegningsperioden i Reparasjonsemisjonen utløp i dag, 19. desember 2023, kl. 16.30 norsk tid.

Den foreløpige opptellingen av mottatte tegninger indikerer at Reparasjonsemisjonen er overtegnet, og at 250.000.000 nye aksjer vil bli utstedt. Den endelige tildelingen av de nye aksjene i Reparasjonsemisjonen forventes å bli gjort den 20. desember 2023, basert på tildelingskriteriene som fremgår av Prospektet. Det endelige resultatet i Reparasjonsemisjonen vil bli publisert så fort som mulig etter slik tildeling, og tildelingsbrev vedrørende de nye aksjene og det korresponderende tegningsbeløpet som skal betales av den enkelte tegner, forventes å bli sendt ut i løpet av 20. desember 2023.

Tegningsbeløpet for tildelte aksjer forfaller til betaling den 22. desember 2023 i henhold til betalingsprosedyrene som er beskrevet i Prospektet.

De nye aksjene kan ikke overføres eller handles før kapitalforhøyelsen relatert til Reparasjonsemisjonen har blitt registrert i Foretaksregisteret. Kapitalforhøyelsen er forventet å bli registrert i Foretaksregisteret omkring 27. desember 2023. De nye aksjene forventes å bli levert til tegnernes respektive VPS-kontoer samme dag, forutsatt rettidig betaling. Selskapet vil sende en ny børsmelding når kapitalforhøyelsen er registrert.

For ytterligere informasjon, vennligst kontakt:

Pål Feen Larsen, CEO Borgestad ASA, +47 48 84 53 33.

--

Denne meldingen inneholder innsideinformasjon i henhold til markedsmisbruksforordningen (EU Market Abuse Regulation) og er informasjonspliktig etter verdipapirhandelloven § 5-12.

Denne meldingen ble publisert av Pål Feen Larsen, CEO i Borgestad ASA, den 19. desember 2023 kl. 17:16, på vegne av Selskapet.

--

Om Borgestad | www.borgestad.no

Borgestad ASA (OSE:BOR) er et investeringsselskap med fokus på eiendom og industri. Selskapets nøkkelinvesteringer inkluderer kjøpesenteret Agora Bytom og den ledende ildfastprodusenten Höganäs Borgestad.

Om Höganäs Borgestad | https://hoganasborgestad.com/

Höganäs Borgestad utvikler, produserer og leverer ildfaste produkter, installasjoner og nøkkelferdige løsninger, som bidrar til å øke industrielle kunders produktivitet og konkurranseevne. Målet er å bidra til kundenes resultater gjennom levering av høy-verdi ildfaste løsninger på kundenes utfordringer. Selskapet er i dag en ledende leverandør i ildfastmarkedet i de Nordiske landene og har en global tilstedeværende innenfor flere utvalgte bruksområder.

IMPORTANT NOTICE:

The information contained in this announcement 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 announcement or its accuracy, fairness or completeness. Neither Arctic Securities AS nor SpareBank 1 Markets AS (the "Managers") or any of their affiliates or any of their respective directors, officers, employees, advisors or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. This announcement has been prepared by and is the sole responsibility of the Borgestad ASA (the "Company").

Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from Australia, Canada, Japan, Hong Kong, South Africa or the United States (including its territories and possessions, any State of the United States and the District of Columbia) or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer for sale of securities in the United States. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act, and may not be offered or sold in the United States absent registration with the U.S. Securities and Exchange Commission or an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any securities referred to herein in the United States or to conduct a public offering of securities in the United States.

This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "EU Prospectus Regulation") (together with any applicable implementing measures in any Member State). The securities offered in the subsequent repair offering are offered on the basis of a listing and offering prospectus dated 4 December 2023 prepared by the Company (the "Prospectus"), which is available at www.borgestad.no/investor, www.arctic.com/offerings and

www.sb1markets.no/transaksjoner. Investors in the subsequent repair offering should not subscribe for any securities referred to in this announcement except on the basis of information contained in the Prospectus.

In any EEA Member State other than Norway, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e. only to investors who can receive the offer without an approved prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are "qualified investors" within the meaning of the EU Prospectus Regulation as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018 and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

This announcement is made by, and is the responsibility of, the Company. The Managers and their affiliates are acting exclusively for the Company and no-one else in connection with the transactions described in this announcement. They will not regard any other person as their respective clients in relation to the transactions described in this announcement and will not be responsible to anyone other than the Company, for providing the protections afforded to their respective clients, nor for providing advice in relation to the transactions described in this announcement, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

In connection with the transaction described in this announcement, the Managers and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase securities and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such securities of the Company or related investments in connection with the transactions described in this announcement or otherwise. Accordingly, references in any subscription materials to the securities being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Managers and any of their affiliates acting as investors for their own accounts. The Managers do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "aim", "expect", "anticipate", "intend", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. The Company, the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice.