The holders of PA Resources AB's convertible bonds 2008/2014 can convert them into new shares during the month of September 2009.

 

A total of 72,757,002 convertible bonds with a nominal amount of SEK 16 per convertible bond were issued at the completion of the new issue of convertible bonds in January 2009. The convertible loan amounts to SEK 1,164,112,032 in total. The convertible bonds are listed both on NASDAQ OMX Nordic Exchange in Stockholm and on Oslo Stock Exchange.

 

According to the terms, the convertible bonds can be converted into new shares between the 1 - 30 September each year, for the first time in September 2009 and the last time in September 2013. The conversion price is SEK 16 per share.

 

Please note that if conversion of convertible bonds into shares is done in September 2009, the right to receive accrued interest on the nominal amount of the convertible bonds from 15 January 2009 will fall.

 

Please note that it will not be possible to transfer PA Resources' convertible bonds between Sweden and Norway from 26 August 2009 up to and including 1 October 2009. After 1 October this is possible again.

 

Instructions concerning the conversion process, application forms as well as other information about the convertible bonds, are available on the company's website www.paresources.se under Investor Relations/The convertible bonds.

 

Summary information on the convertible loan:

ISIN Number:  
SE0002694455

Ticker symbol: 
PAR KV1 on NASDAQ OMX Nordic Exchange in Stockholm, PAR02 on Oslo Stock Exchange

Issuer: 
PA Resources AB

Duration time:  
The convertible bonds duration time is from 15 January 2009 up to and including 15 January 2014.

Interest:  
The convertible bonds carry a fixed annual interest of 11 percent during the duration time. The interest is paid annually on January 15 each year, first time on 15 January 2010 and last time on 15 January 2014.

Nominal amount: 
16 SEK per convertible bond

Conversion: 

The convertible bonds can be converted into new shares during the month of September each year, the first time in September 2009 and the last time in September 2013.

Repayment: 

If conversion into new shares is not made in 30 September 2013 at the latest, the outstanding convertible loan amount will be repaid to the holder of the convertible bonds at maturity including accrued interest from the last interest due date (15 January 2013).

 

For complete terms for PA Resources' convertible loan 2008/2014, see the prospect that is available on the company's website www.paresources.se under Investor Relations/The convertible bonds.

 

Stockholm, 21 August 2009
PA Resources AB (publ)

 

 

For additional information, please contact:
Bo Askvik
CFO, PA Resources AB
Tel +46 8 21 83 82

or

 

Ann-Kristin Littorin
Head of Corporate Communication, PA Resources AB
Mobile: +46 73 923 903 68. E-mail: info@paresources.se

 

 

PA Resources AB (publ) is an international oil and gas group with the business strategy to acquire, develop, exploit and divest oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, United Kingdom, Denmark, Greenland, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.
PA Resources' net sales amounted to SEK 2,420 Million during 2008. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary listed on the NASDAQ OMX Nordic Exchange in Stockholm, Sweden (segment Mid Cap). For additional information, please visit www.paresources.se.