PA Resources has filed a petition to extend the corporate reorganisation
PA Resources AB has today, in accordance with chapter 4, Section 8, second paragraph of the Company Reorganisation Act (1996:764), filed a petition with the Stockholm District Court to extend the corporate reorganisation with a further three months.
PA Resources filed for corporate reorganisation on the 26 March 2015, which was approved by the court on the 27 March 2015. Following a creditors meeting on the 15 April 2015 the court approved a continued reorganisation for three months ending on the 29 June 2015.
On the 22 June 2015 the company announced that it had reached an agreement with its biggest creditors concerning short-term financing. The company believes it needs further time to complete the reorganisation and has therefore submitted a petition to extend it with a further three months.
Stockholm 25 June, 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), United Kingdom, Denmark, Netherlands and Germany. PA Resources has oil production in Tunisia. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 603 million in 2014. 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 17:35 CET 25 June 2015.