The shareholders of PA Resources AB (publ) held an Extraordinary General Meeting on Monday 24 May 2010 in Stockholm, Sweden. The Extraordinary General Meeting approved the Board's decision to carry out a rights issue.
The Extraordinary General Meeting approved the Board's decision of 6 May 2010 to carry out a new issue of shares with preferential rights for the company's shareholders.
The record date for entitlement to participate in the rights issue is on 28 May 2010.
The final terms for the rights issue were announced in a press release on 20 May 2010. The rights issue, which is fully committed and underwritten, will raise proceeds of approximately SEK 1,761 million before transaction related costs to the company.
Detailed information about the rights issue will be described in the Prospectus which has been produced due to the rights issue and will be made public on or about the 27 May 2010. The Minutes of the Extraordinary General Meeting will be available on PA Resources' web site www.paresources.se.
Stockholm, 24 May, 2010
PA Resources AB (publ)
For further information please contact:
Bo Askvik
President and CEO, PA Resources AB
Telephone: +46 8 21 83 82, +46 70 819 59 18
E-mail: info@paresources.se
or
Sven Rasmusson
Chairman of the Board
Telephone: +46 8 440 54 30
E-mail: sven.rasmusson@raspart.se
PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop, exploit and divest oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark, Greenland, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is one of the largest oil producers in Tunisia and is also producing oil in the Republic of Congo. The parent company is located in Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,113 million during 2009. The company is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap) and on the Oslo Stock Exchange in Norway (segment OB Match). For additional information, please visit www.paresources.se.