PA Resources has filed a petition to extend the corporate reorganisation
PA Resources AB (“the Company”) has today filed a petition with the Stockholm District Court to extend the corporate reorganisation with a further three months.
The company filed for corporate reorganisation on the 26 March 2015. Following a decision by the District Court on the 9 July 2015 the corporate reorganisation was extended until the 28 September 2015. The 9 September 2015 the company filed a request for a composition proceedings with the court, following which the court on the 10 September 2015 decided a creditors’ meeting under composition proceedings is to be held on the 2 October 2015.
As the creditors’ meeting is to be held after the 28 September 2015, it is necessary to extend the corporate reorganisation so that the creditors’ meeting can be held and the composition can become legally binding.
Stockholm 17 September, 2015
PA Resources AB (publ)
For additional information, please contact:
Petter Hjertstedt, Investor Relations
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 16:00 CET 17 September 2015.