Bondholders meeting regarding PA Resources AB (publ)

Stockholm, November 9, 2012. The compliance certificate regarding PA Resources’ corporate bond of up to SEK 850,000,000, shows that PA Resources is in breach of the covenants under the terms of the bond. In connection with its presented refinancing plan, PA Resources has therefore sent a waiver request to the bondholders’ agent, CorpNordic Sweden AB.

CorpNordic Sweden AB is the appointed agent for the holders of the bond issued by PA Resources AB (publ) of up to SEK 850,000,000 (ISIN SE0003652577). In accordance with the terms of said bond, on November 1, 2012, CorpNordic requested PA Resources to present an unaudited financial report as per September 30, 2012, and a certificate certifying the company’s compliance with the terms and conditions of the bond.

This request was fulfilled on of November 7, 2012, when the company announced its report for Q3 2012 and sent a compliance certificate to CorpNordic. The compliance certificate shows that PA Resources is in breach of the covenants under the terms and conditions of the bond and PA Resources has therefore, in connection with its presented refinancing plan, sent a waiver request to the agent.

The agent will therefore shortly convene a bondholders meeting where PA Resources will be given the opportunity to further inform the bondholders of the circumstances constituting the breaches and the proposed refinancing steps. Furthermore, at or in connection with the meeting, the agent will ask the bondholders to vote on the proposed waiver request and any connected issues.

This press release is sent for informational purposes only and does not constitute a formal notice under the terms of the bond. All formal notices will be sent to the bondholders by letter in accordance with the notice provisions under the bond terms.

For further information, please contact:
Martin Gorne, Managing Director, CorpNordic Sweden AB, +46 8 402 72 00, m.gorne@corpnordic.com

TO THE EDITORS
About CorpNordic

CorpNordic is the leading trustee for bond issues in Denmark, Finland and Sweden. CorpNordic started its operations in Sweden in 2003 and has over 70 employees with offices in Denmark, Finland, Norway and Sweden. www.corpnordic.com

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Intertrust is a leading Nordic bondholder representative and agent for creditors. We are the global leader in the trust and corporate services industry - as the most professional firm, maintaining the highest standards and working together as “One Intertrust, One Team”. We distinguish ourselves by being the most responsive and by being dedicated to delivering dynamic and innovative solutions to our clients. Today, we have over 1,800 specialists working from 36 offices in 26 countries, including the world’s most important financial centers. As a result, you get a world of local expertise working with you to meet your goals. For more information: www.intertrustgroup.com

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