Lysaker, 10 December 2025: 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 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"), and the later stock exchange announcements published by the Company regarding the approval of the Transaction by Bjuv municipality, the complaint over such approval and the ruling by the Administrative Court in Malmö to revoke Bjuv municipality's approval of the Transaction.
The Administrative Court of Appeal in Gothenburg (Kammarrätten i Göteborg) (the "Court of Appeal") has now set aside the ruling of the Administrative Court in Malmö. The Court of Appeal found that the purchase price in the Transaction had been sufficiently substantiated by Bjuv municipality, and that there are no other grounds to revoke Bjuv municipality's approval of the Transaction. The ruling of the Court of Appeal can be appealed by the claimants within three weeks.
Bjuv municipality's approval of the Transaction will become binding if the complaint has been finally resolved in the claimants' disfavour, and the completion of the Transaction is conditional upon such binding approval. The Transaction can hence be completed if the ruling of the Court of Appeal becomes final and binding.
For further information, please contact:
Pål Feen Larsen, CEO of Borgestad ASA
Tel.: +47 48 84 53 33
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 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Pål Feen Larsen, CEO of Borgestad ASA, on 10 December 2025 at 12:30 CET on behalf of the Company.
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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. 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.