Borregaard - Share Issue/Capital Change 2015

Borregaard: Share options issued

27.10.2015: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard's Board of Directors has decided to issue 500,000 share options in

accordance with the proxy given by the Annual General Meeting held on 15 April

The options will expire after five years (27 October 2020), and may be exercised

in the last two years. The strike price of the options is NOK 51.49. It is based

on the volume weighted average share price during the first three trading days

after the announcement of the 3(rd) quarter results, with an addition of 10%.

The strike price will be adjusted for dividend and equity transactions. The

maximum annual gain is limited to twice the annual base salary for the CEO, and

equivalent to the annual base salary for the other option holders. At least 50%

of the proceeds after tax must be used to purchase shares in the Company, and

the purchased shares will be locked for a period of three years. In addition,

the members of the Executive Management are expected to acquire shares until

their shareholdings equal their annual base salary, and twice the base salary

for the CEO.

Primary insiders have the following holdings of options and shares in Borregaard

after the new share options were issued on 27 October 2015 (new options in

parenthesis):

Per A. Sørlie holds 370,000 options (60,000) and owns 110,987 shares

Morten Harlem holds 85,000 options (45,000) and owns 45,084 shares

Tom Erik Foss-Jacobsen holds 60,000 options (30,000) and owns 34,740 shares

Per Bjarne Lyngstad holds 70,000 options (30,000) and owns 52,721 shares

Tuva Barnholt holds 50,000 options (25,000) and owns 28,293 shares

Sveinung Heggen holds 50,000 options (25,000) and owns together with related

parties 4,209 shares

Ole Gunnar Jakobsen holds 56,300 options (25,000) and owns 27,488 shares

Gisle Løhre Johansen holds 50,000 options (25,000) and owns 29,184 shares

Dag Arthur Aasbø holds 62,500 options (25,000) and owns 39,721 shares

The total number of outstanding share options is now 1,458,800, equivalent to

1.46% of the number of shares (including 777,883 treasury shares) in Borregaard.

Contacts:

Chief Financial Officer, Per Bjarne Lyngstad, mobile +47 952 44 515

Senior Vice President Organisation and Public Affairs, Dag Arthur Aasbø, mobile

+47 918 34 108

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

[HUG#1961623]

AI assistant