Reference is made to the stock exchange announcement published by Borgestad ASA (the “Company”) on 7 July 2023 regarding the result of the arbitration dispute in Vienna, Austria, involving the Company’s partially owned subsidiary Macon AB (“Macon”). As announced in the stock exchange announcement, the arbitral tribunal ruled in Macon’s favor on all counts, and Macon’s counterparty was ordered to pay Macon approximately EUR 2.75 million (excluding VAT), plus interest at a rate of 9.2% p.a. on an amount of approximately EUR 2.49 million from 22 October 2016 until the payment is made. The counterparty is also required to cover Macon’s legal expenses of approximately NOK 18 million.
The entire outstanding claim, which in Euro amounts to EUR 5,912,048.46, has been received by Macon today.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.