Orrön Energy AB (“the Company”) announces that it was today informed that the Prosecutor's claim for forfeiture of economic benefits has been increased and now amounts to SEK 2,381,300,000. The Company, which strongly disputes both the methodology used by the Prosecutor and the amount of the claimed forfeiture, does not see any circumstances in which the claim for forfeiture could become payable as there is no legal basis for this claim and no grounds for allegations of wrongdoing by any former Company representative.
The Prosecutor's claimed forfeiture of economic benefits now amounts to SEK 2,381,300,000, which is higher than the previously claimed amount of SEK 1,391,791,000 announced by the Prosecutor in connection with the indictment in November 2021. Any potential forfeiture of economic benefits could only be imposed after an adverse final conclusion of the legal case.
The Company and its defence counsel are firmly convinced that there is no legal basis for the claim. This latest increase to the claimed forfeiture amount means that the Prosecutor has presented three completely different amounts over the past five years, raising serious questions about the substance and credibility of the Prosecutor’s claim. It is obvious that the methodology used by the Prosecutor to arrive at the claimed forfeiture amount is fundamentally flawed, leading to an unreasonable forfeiture claim which has no basis in law and is highly speculative.
The Company, which contests the claim as well as the basis for the allegations against the former Company representatives, is confident that the Court process will lead to a full acquittal of the individuals and a dismissal of the Prosecutor's claim for forfeiture.
For more information on the Sudan legal case and the Company's comments on the process, please visit www.lundinsudanlegalcase.com.
For further information, please contact:
Robert Eriksson
Director Corporate Affairs and Investor Relations
Tel: +46 701 11 26 15
robert.eriksson@orron.com
Jenny Sandström
Communications Lead
Tel: +41 79 431 63 68
jenny.sandstrom@orron.com
This is information that Orrön Energy AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 16h20 (CEST) on 29 August 2023.
Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics and Europe. With significant financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.
Forward-looking statements
Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.
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