Nordic Mines consolidates its shares
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation the Swedish text shall take precedence.
PRESS RELEASE 31 August 2015
The Annual General Meeting for Nordic Mines AB (publ) ("Nordic Mines" or "the
Company") resolved on 30 June 2015 to reduce the Company's share capital to
cover losses and to carry out a reorganisation of its shares via a reverse split
on a 1-for-100 basis, which means that 100 shares will be consolidated to a
single share. Since the measures were approved by its lenders, the Company will
now implement the AGM's resolution.
Directed share issue
In order to achieve an evenly distributable number of shares in the Company and
thus facilitate a consolidation of the Company's shares, the AGM granted the
Company's Board of Directors the authorisation to decide on a directed issue of
shares in the Company. Pursuant to this authorisation from the AGM, the Board
decided on a directed issue of four shares to Evli Corporate Finance AB. The new
shares were issued at a subscription price up to the existing shares' quota
value (in total SEK 0.1811).
The total number of outstanding shares in Nordic Mines after the directed issue
is 5,403,043,200.
Consolidation of shares (1:100)
The resolution by the AGM on the consolidation of the Nordic Mines share entails
that 100 existing shares will be consolidated into one new share. Pursuant to
the authorisation granted by the AGM, the Board has determined that the record
date for the consolidation will be 16 September 2015.
The final day to trade Nordic Mines shares on NASDAQ Stockholm before the
consolidation is 14 September 2015. The first day to trade Nordic Mines shares
after the consolidation is 15 September 2015, which means that the price of the
share as of 14 September 2015 will reflect the effect of the consolidation.
Please note that as of this date the share will be traded under a new ISIN code,
SE0007491105.
The consolidation will reduce the total number of shares in Nordic Mines from
5,403,043,200 to 54,030,432. The quota value for the Company's shares after the
consolidation will be SEK 4.5269 per share. The Company's share capital will not
be affected by the consolidation.
For shareholders who do not own a number of shares that corresponds to a whole
number of new shares on the record date, the excess number of shares will be
taken over by Nordic Mines and sold. The proceeds from the sale of the excess
shares will be paid to entitled shareholders around 21 September 2015.
Schedule for the consolidation of shares
14 September 2015 Last day for trade before the consolidation
15 September 2015 First day for trade following the consolidation New ISIN
code SE0007491105
16 September 2015 Record date for the consolidation
Reduction in share capital to cover losses
The AGM also resolved to reduce the Company's share capital by SEK 147,245,000
to cover losses without withdrawing shares. Since the reduction in share capital
was registered by the Swedish Companies Registration Office on 20 August 2015,
the Company's share capital is SEK 244,590,214.44.
For further information, please contact:
Eva Kaijser, CEO,+46 (0)70 932 09 01
Jonatan Forsberg, CFO, +46 (0)76-105 13 10
For more information about Nordic Mines, please visit www.nordicmines.se.
The information presented above has been disclosed pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
published on 31 August 2015 at 8:00 a.m.
Nordic Mines is a Nordic mining and exploration company. The Laia mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer
to www.nordicmines.se.
Nordic Mines consolidates its shares:
http://hugin.info/138647/R/1948498/707769.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
[HUG#1948498]
Unternehmensinformation / Kurzprofil:
Datum: 31.08.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 416792
Anzahl Zeichen: 5262
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Town:
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Kategorie:
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