Orrön Energy AB has disclosed 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.