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).
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.