Oslo, 27 February 2025: Reference is made to the stock exchange announcement made by XXL ASA ("XXL" or the "Company") on 13 December 2023 regarding the resolution to implement a new long term management investment program (the "New Investment Program"). As further described therein, the participants in the New Investment Program were offered the opportunity to invest in a newly established management investment company, XXL Management Invest II AS ("XMI II"), which in turn was intended to invest in financial instruments having a value that was linked to the value of the XXL shares.
Due to disagreements between valuation experts in the implementation phase, the New Investment Program could not be implemented on the intended terms and conditions. The Company has therefore in agreement with the participants in the program resolved to terminate the program. Following the termination, XMI II will be liquidated and the funds contributed to that company will be repaid to the participants.
This information is subject to the disclosure requirements pursuant to Euronext Oslo Rule Book II for companies listed on Oslo Børs.
For more information, please contact:
Investor Relations:
Tolle O. R. Grøterud
Tel: +47 902 72 959
E-mail: ir@xxlasa.com
Press contact:
Jan Christian Thommesen
Tel: +47 918 21 387
E-mail: presse@xxl.no
About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden and Finland. It is the largest among the major sports retailers in the Nordics. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.