Orkla confirms intention to list Borregaard ASA on the Oslo Stock Exchange

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Orkla ASA (OSE:ORK) confirms its intention to proceed with an Initial Public Offering ("the Offering") of the shares in Borregaard ASA (BRG). An application was filed with the Oslo Stock Exchange on 28 August 2012 for the shares of Borregaard to be admitted to the main list on the Oslo Stock Exchange. Subject to the relevant approvals from the Oslo Stock Exchange and to market conditions, the Offering is expected to price during the fourth quarter 2012. The Offering is planned to comprise existing shares being sold by Orkla. The shares will be offered to institutional investors in Norway and internationally and in a retail offering to the public in Norway. Pre-marketing of the Offering will start today, September 19.

ABG Sundal Collier Norge ASA and UBS Limited are acting as Joint Global Co-ordinators and Joint Bookrunners, and DNB Markets (a part of DNB Bank ASA), Handelsbanken Capital Markets (a part of Svenska Handelsbanken AB (publ.)) and SEB Enskilda (a part of Skandinaviska Enskilda Banken AB (publ.)) are acting as Co-Lead Managers.

Further announcements relating to the Offering will be made in due course.

For further queries, please contact:
Håkon Mageli, EVP Corporate Communications and Corporate Affairs
Tel: +47 92 84 58 28

Anders Kalleberg, Investor Relations
Tel: +47 99 04 24 98

ABOUT BORREGAARD
Borregaard is a bio-based specialty chemicals company with one of the world's most advanced biorefineries. From natural and renewable raw materials, Borregaard produces advanced and environmentally friendly biochemicals, biomaterials and bioethanol that can be used as substitutes for petrochemical-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, the Americas, Asia and Africa.


DISCLAIMERS
These materials are not an offer for sale of securities. 

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act.  The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States. 

Any offering of securities will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the Company and management, as well as financial statements. This document is an advertisement and not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").  Investors should not subscribe for any securities referred to in this document except on the basis of information contained in the prospectus.

In any EEA Member State other than Norway that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) above together being referred to as "relevant persons").  The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons.  Any person who is not a relevant person should not act or rely on this document or any of its contents.  Stabilization/FSA

Matters discussed in this release may constitute forward-looking statements.  Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may," "continue," "should" and similar expressions.  The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions.  Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.  Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. 

The information, opinions and forward-looking statements contained in this release speak only as at its date, and are subject to change without notice. 

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