PA Resources covers fees to advisers of Gunvor Group and other creditors
PA Resources announced in October 2014 that financial and legal advisers had been appointed to support the bondholders in the refinancing discussions initiated by the company. The costs for the advisers are being paid by PA Resources. The Gunvor Group, which holds close to 30 per cent of the shares in PA Resources and therefore is considered a closely related party for the purposes of the NASDAQ OMX disclosure rules, has now also appointed financial and legal advisers to assist them in the refinancing discussions in its role as senior secured creditor. PA Resources has agreed to cover also Gunvor Group’s costs in this respect.
Stockholm 29 January, 2015
PA Resources AB (publ)
For additional information, please contact:
Tomas Hedström, Chief Financial Officer
Phone: +46 8 545 211 50
PA Resources AB (publ) is an international oil and gas group which conducts exploration, development and production of oil and gas assets. The Group operates in Tunisia, Republic of Congo (Brazzaville), Equatorial Guinea, United Kingdom, Denmark, Netherlands and Germany. PA Resources is producing oil in West Africa and North Africa. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 1,049 million in 2013. The share is listed on the NASDAQ OMX in Stockholm, Sweden. For additional information, please visit www.paresources.se.
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08:30 am CET on 29 January 2015.