The board of PA Resources approves the balance sheet for liquidation purposes and will convene an extra general meeting
In a press release dated 20 January 2015 PA Resources informed that a balance sheet for liquidation purposes would be prepared. The board of PA Resources has now approved the balance sheet for liquidation purposes. Net equity amounts to SEK 50 million which is below 50 per cent of the registered share capital. The board is therefore legally required to convene an extra general meeting of shareholders which shall resolve whether or not the company shall continue operations or go into liquidation. The board will issue notice to such general meeting of shareholders as soon as possible.
Stockholm 26 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 26 January 2015.