Borregaard ASA: Initiation of share repurchase programme

28 February 2020: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard intends to repurchase up to 300,000 shares of its outstanding common stock. The shares will be used for employee incentive programmes. Borregaard’s Board of Directors was given authority by the shareholders at the Ordinary General Meeting held on 11 April 2019 to repurchase up to ten percent of the outstanding shares. According to the proxy, the highest price to be paid is NOK 250.00 per share.

The repurchase of shares will be conducted in a period from 2nd March up to and including 3rd April 2020 at the latest. The maximum daily volume to be purchased during the above-mentioned period is 29,000 shares. This limit corresponds to 25% of the average daily turnover in February 2020. All shares will be purchased in a regulated market.

Borregaard has appointed SEB to carry out the repurchase programme according to the rules and regulations of Oslo Børs (see Circular No. 2/2008).

Lotte Kvinlaug, Investor Relations Officer, +47 922 86 909

This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.