Mar 01, 2021

NRC Group ASA – Market Court decision – Maintenance area 5

Reference is made to the stock exchange notice made by NRC Group ASA on 14 September 2020, where the Finnish Transportation Infrastructure Agency (FTIA) appointed NRC Group Finland, a company wholly owned by NRC Group ASA, to an overall contract for railway maintenance.

NRC Group ASA has today been informed by the Market Court that it has annulled the previous decision of the FTIA due to procedural error in the tender process, and that FTIA should re-announce the contract again to the market. FTIA has 30 days to appeal the decision to the Supreme Administrative Court, or to accept the decision and re-announce the contract. Until a final decision is made, NRC Group Finland will continue with the railway maintenance.

The contract is valued at approximately EUR 25 million, with an estimated yearly production of EUR 5 million in the period 2021 to 2025. The decision is estimated to have limited financial effect in 2021.

For further information, please contact: Henning Olsen, CEO of NRC Group, + 47 91 74 15 92.

The stock exchange notice was published by Cecilie Blaauw Cock, Marketing & Communication, NRC Group ASA.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Contact us

Henning Olsen

Henning Olsen

CEO

+47 91 74 15 92

henning.olsen[at]nrcgroup.com

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