PA Resources' Rights Issue Ends

The subscription period for PA Resources AB’s rights issue ended on Jan. 23, 2013, the company reported Friday.

The preliminary result of the rights issue indicates that approximately 3,569 million shares, representing approximately 51 percent of the shares offered, were subscribed for with primary preferential right. Of these, approximately 2,334 million represented A-shares and approximately 1,235 million represented B-shares.

Additionally, subscription forms corresponding to approximately 194 million shares have been received for subscription with subsidiary preferential right and without preferential right. The remaining approximately 3,290 million shares will be allotted to the guarantors pro rata in relation to their total undertaking, in accordance with the underwriting agreements entered into with the Company. Through the rights issue, which consequently is fully subscribed, PA Resources will receive proceeds amounting to approximately SEK 705 million before transaction related costs.

Those who have subscribed for shares with subsidiary preferential rights and without preferential rights will be allotted shares according to the principles outlined in the prospectus which was published on Dec. 28, 2012. Notice to those who have subscribed for shares with subsidiary preferential rights and without preferential rights is expected to be distributed on or around Jan. 29, 2013. The final outcome of the rights issue is expected to be announced on or around Jan. 29, 2013.

Through the rights issue PA Resources’ share capital increases by SEK 705,275,104.80 to SEK 1,414,599,897.20. The number of shares increases by 7,052,751,048 shares (whereof 3,824,865,912 A-shares and 3,227,885,136 B-shares) to 14,145,998,972 shares (whereof 4,462,343,564 A-shares and 9,683,655,408 B-shares).

The last day for trading in paid subscribed shares (BTA-A) on NASDAQ OMX Stockholm will be Jan. 25, 2013. New A-shares subscribed for with primary preferential right are expected to start trading on NASDAQ OMX Stockholm on Feb. 1, 2013, and new A-shares subscribed for with subsidiary preferential right and without preferential right are expected to start trading on NASDAQ OMX Stockholm on Feb. 4, 2013. On Feb. 7 2013, the B-shares are expected to automatically be converted into A-shares and are then subject to trade on NASDAQ OMX Stockholm.

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