The Stockholm District Court adopts the composition plan and approves PA Resources’ request for termination of the corporate reorganisation
At today’s composition proceedings at the Stockholm District Court a qualified majority of the creditors chose to support the proposed composition plan put forward by PÅ Resources AB (“the company”) and the administrator whereby the court could adopt the composition proposal. The court’s decision will become final and binding on the 24 October 2015.
In conjunction with the court’s decision the company chose to submit a request for termination of the corporate reorganisation on the grounds that the purpose of the corporate reorganisation has been fulfilled through the adoption of the composition proposal. The court approved the company’s request whereby the corporate reorganisation will be terminated when the composition becomes final and binding on the 24 October 2015.
Stockholm 2 October, 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 15:20 CET 2 October 2015.