The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Sections 2.3.1 and 2.3.2 of the Oslo Børs Listing Rules. This exemption was granted because the company’s business has been in existence for the required time, but has operated through different legal entities.
The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Oslo Børs Listing Rules, have at least 25% spread of share ownership among the general public for the shares for which admission to stock exchange listing is sought, as specified in section 2.4 of the Oslo Børs Listing Rules and publish an approved prospectus.
The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 9 November 2012.
About Borregaard: Borregaard is a biobased specialty chemicals company with one of the world’s most advanced and sustainable biorefineries. From natural and renewable raw materials, Borregaard produces advanced and environmentally friendly biochemicals, biomaterials and bioethanol that can replace oil-based products. Borregaard also holds strong positions within ingredients and fine chemicals. Borregaard has 1100 employees in plants and sales offices in 17 countries throughout Europe, Americas, Asia and Africa.