Agreement on break

2024-12-30

Pending PTL's decision to appeal ISP's rejection of PTL's investment, Torsboda Industrial Park and PTL are pausing the land transfer agreement.

In the agreement between PTL and Torsboda Industrial Park, there are dates set - milestones - when certain things must be completed in order for the agreement between the parties to continue in force. December 31 was the date when the land transfer and payment would be completed. With ISP's decision not to allow PTL's investment in Torsboda, Torsboda Industrial Park held an extraordinary board meeting regarding the agreement December 30.

Christian Söderberg, CEO of Torsboda Industrial Park, what was decided at the board meeting regarding the agreement with PTL?

- Since PTL has not yet decided whether to appeal the ISP's decision to the government, we are now, at the request of PTL, making an agreement to pause the agreement, which is until February 15. The original contract stipulates that the date can be changed if the parties agree. As we do not know at this time how a possible appeal would affect the timetable for PTL and thus also our development of the industrial park, we are now not discussing any new dates for milestones. We will first await notification of the appeal and will be able to draw up a plan after that.

When minutes of board meetings are adjusted and signed, they are published as usual on our website under the “Governance and Management” tab.

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