Porsgrunn, 19 March 2024: Reference is made to the stock exchange notice on 14
March 2024 regarding the petition for bankruptcy filed against Recreate ASA
("Recreate" or the "Company") by Norion Bank AB ("Norion"). 

The Company has today received a copy of the bankruptcy petition in which it is
alleged that the Company is insolvent, cf. Section 60 of the Norwegian
Bankruptcy Act. Norion argues that the Company's debt level is currently
unsustainable and that the Company is unlikely to be able to fulfill its debt
obligations as they fall due. 

In response to this situation, the Company has initiated dialogue with Norion as
part of its efforts towards reaching an amicable solution for the benefit of all
stakeholders.  

For further information, please contact:

Emil Eriksrød, CEO
emil.eriksrod@recreate.no
+47 415 22 463

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange