Borregaard - Regulatory Filings 2016

Borregaard: Spanish lignin partner Sniace to be re-listed on Madrid stock exchange

Sniace SA, Borregaard's partner in Spain and supplier of lignin raw material to

LignoTech Ibérica, has filed for a re-listing of the company's shares on the

Madrid stock exchange. The shares are expected to trade from 22 March 2016. The

company will then pursue re-capitalization and, if successful, initiate

comprehensive maintenance work before resuming operations.

Should the operations be resumed, Borregaard has offered to contribute to the

re-capitalization, subject to certain conditions being met, by a combination of

buying Sniace's shares in LignoTech Ibérica (40%) and entering into a revised

lignin raw material supply agreement between LignoTech Ibérica and Sniace.

For background information please see Borregaard's stock exchange notices from

26 June, 25 July and 8 September 2013 (http://www.borregaard.com/Investor-

Relations/Download-center?Query=*&subtreefilter=108002&Year=2013).

Contact:

Jørn Syvertsen, Director Investor Relations, +47 9583 6335

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

[HUG#1996257]

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