Reference is made to the stock exchange announcement by Borgestad ASA (the
"Company") published on 28 November 2023 regarding the resolutions of the
general meeting to inter alia reduce the Company's share capital by deleting
8,010 treasury shares, reduce the Company's share capital further through the
reduction of the nominal value of each share from NOK 1.00 to NOK 0.25, and
increase the Company's share capital by NOK 250,000,000 by issuing 1,000,000,000
new shares in connection with the private placement of new shares in the Company
placed on 6 November 2023 (the "Private Placement").

The share capital reductions and the share capital increase pertaining to the
Private Placement have now been registered in the Norwegian Register of Business
Enterprises, and the Company's new share capital is NOK 288,120,710.25, divided
into 1,152,482,841 shares, each with a nominal value of NOK 0.25.


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

For further information, please contact:
Pål Feen Larsen, CEO of Borgestad ASA
Tel.: +47 48 84 53 33

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About Borgestad|www.borgestad.no

Borgestad ASA (OSE:BOR) is an investment company focused on real estate and
industry. The key investments include Agora Bytom shopping center and the
leading refractory manufacturer Höganäs Borgestad.  

About Höganäs Borgestad | www.hoganasborgestad.com 

Höganäs Borgestad develops, manufactures and delivers refractory products,
installations and turnkey solutions that enhance the productivity and
competitiveness of industrial customers. The aim is to contribute to the
customers' profitability by providing high-value refractory solutions to their
challenges. Today, the company is a leading supplier in the refractory market of
the Nordic countries and has a global presence in a number of selected
application areas.