Clarification of the treatment of bondholders under the proposed composition plan
In the proposed composition plan presented on the 9 September 2015 by PA Resources AB (“the company”) and the administrator, lawyer Lars Söderqvist, the company’s creditors have been split into different groups with regards to repayment. What follows below is a clarification of how the holders of the SEK- and NOK-bonds will be treated under the proposal. The full Reorganisation Plan is available on the company website at www.paresources.se.
The holders of the SEK- and NOK-bonds are treated collectively and are included in the group of creditors which have agreed to accept repayment over a longer period of time. This applies to all bondholders irrespective of the nominal value of the individual holding.
The bondholders will, shortly, receive a summons to a bondholders’ meeting for the holders of the NOK-bond and a written procedure to the holders of the SEK-bond where the bondholders will get the opportunity to vote whether to accept the proposed Composition Plan. The result of the bondholders’ meetings will be binding for all bondholders.
Stockholm 14 September, 2015
PA Resources AB (publ)
For additional information, please contact:
Petter Hjertstedt, Investor Relations
Phone: +46 8 545 211 50
E-mail: ir@paresources.se
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 14 September 2015.