RenoNorden AS has since 6. September entered into new negotiations with certain municipalities in order to terminate nine unprofitable customer contracts entered into in 2015 and first half of 2016. A prerequisite for the municipalities for accepting termination has been equal treatment of all the municipalities involved. The company has failed to achieve a satisfactory solution and have informed its parent and lenders thereof today. Based on this, RenoNorden ASA`s lenders, DNB and Den Danske Bank (“the Banks”), have announced that no further funds will be available to either RenoNorden AS or RenoNorden ASA. Subsequently, both entities will file for bankruptcy without undue delay. The Banks have stated that they intend to offer financing to the subsidiaries in Denmark, Sweden and Finland on an independent basis to support their continued business. The dialogue in this respect will be carried out between the Banks and each of the subsidiaries.