The Board of PA Resources AB has today decided to mandate Carnegie
Investment Bank AB to launch a directed new share issue of up to 14.5
million new shares in PA Resources AB.
The decision to issue new shares will be taken by the Board of PA
Resources AB after a book-building process. The Board's decision will
be based on the Board's authorization from the Annual General
Shareholders' meeting held on 13 May 2009.
The new share issue may comprise of a maximum of 14.5 million new
shares and the issue price will be determined through a book-building
process. If all the 14.5 million shares are subscribed for, the total
number of outstanding shares in PA Resources AB will amount to
160,014,004 shares.
The proceeds from the offering will be used for continued development
of PA Resources' assets by advancing development of new fields and
exploration drillings.
- This money will primarily be used for the development of the Aseng
field (formerly Benita) in Equatorial Guinea which is likely to start
already this summer, as well as advanced exploration drillings in the
Republic of Congo. We see good potential for value growth for our
shareholders with these investments. At the same time we continue the
development of our producing assets by starting a new production well
on the Didon field in Tunisia as we announced last week, says Ulrik
Jansson, President and CEO at PA Resources AB.
Stockholm, 15 June 2009
PA Resources AB (publ)
For further information, please contact:
Ulrik Jansson
President and CEO, PA Resources AB
Telephone: +46 70 751 41 84, +46 8 21 83 82
E-mail: info@paresources.se
or
Bo Askvik
CFO, PA Resources AB
Telephone: +46 8 21 83 82
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 today
one of the largest oil producers in Tunisia. The parent company is
located in Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,420 Million during 2008.
The company is primary listed on the Oslo Stock Exchange in Norway
(segment OB Match) and secondary listed on the NASDAQ OMX Nordic
Exchange in Stockholm, Sweden (segment Large Cap). For additional
information, please visit www.paresources.se.
