The Board of Directors of Nordic Mines resolves on final terms for rights issue in an amount of not less than SEK 80 million
(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, October 16, 2015
On September 21, 2015, the Board of Directors of Nordic Mines AB (publ) (the
"Company" or "Nordic Mines") announced that it had, subject to the Extraordinary
General Meeting's subsequent approval, resolved on a new issue of shares with
pre-emption rights for the existing shareholders (the "Rights issue") and on a
directed new share issue.
The Board of Directors has now resolved on the final terms for (i) the Rights
issues (item 7 d) on the proposed agenda) and (ii) the thereto related amendment
of the Articles of Association (item 7 c) on the proposed agenda), in accordance
with the below. Further, the Board of Directors has at the same time, after
evaluating the capital raise process, decided to withdraw the directed new share
issue (item 7 e) on the proposed agenda).
The Extraordinary General Meeting will be held in Stockholm on October 21,
2015, at 9.30 a.m. (CET). The notice to the Extraordinary General Meeting is
available on Nordic Mines' webpage, www.nordicmines.se.
Final terms, etc.
7 c) Amendment of the Articles of Association
The Board of Directors proposes that the Extraordinary General Meeting resolves
to amend paragraphs 4 and 5 of the Company's Articles of Association regarding
the limits for the share capital and the number of shares, respectively, to have
the following wording.
Limits for the share capital (§ 4 of the Articles of Association)
The share capital shall not be less than SEK 2,000,000 and not be higher than
SEK 8,000,000.
Limits for the number of shares (§ 5 in the Articles of Association)
The number of shares shall not be less than 200,000,000 shares and not more than
800,000,000 shares.
7 d) Rights issue
The Board of Directors has resolved on the following terms and conditions with
respect to the Rights issue:
* The share capital shall be increased by a maximum of SEK 5,403,043.20.
* The number of shares shall be increased by a maximum of 540,304,320.
* For each share owned on the record day, 10 subscription rights shall be
obtained and 1 subscription right entitles to 1 new share.
* For each new share, SEK 0.20 shall be paid.
The subscription price represents a discount of approximately 24 per cent
compared to the theoretical share price after the separation of subscription
rights (TERP), based on the closing price of the Nordic Mines share on
October 15, 2015, on Nasdaq Stockholm. Compared to the volume weighted average
price the last 30 trading days of the Nordic Mines share on Nasdaq Stockholm up
to and including October 15, 2015, the subscription price represents a discount
of approximately 79 per cent.
The Rights issue is conditional upon (i) that the Company and the group's
lenders entering into, in the opinion of the Board of Directors, the necessary
agreements with respect to the receivables on the group companies under the
existing finance documents and that such agreements, in the opinion of the Board
of Directors, are likely to be implemented as intended and (ii) that a
sufficiently high acceptance level in the Rights issue, in the opinion of the
Board of Directors, may be achieved.
The proceeds from the Rights issue will, in case of full subscription, amount to
just over SEK 108 million prior to transaction costs related to the Rights
issue. In order for the acceptance level to be considered sufficiently high, it
is, at the time of announcement of this press release, the Board of Directors
view that the proceeds of the Rights issues must amount to not less than SEK 80
million prior to current transaction costs related to the Rights issue, however
that the Board of Directors may take into account other financing (including
debt financing) which together with the proceeds from the Rights issue amounts
to not less than SEK 80 million, prior to current transaction costs related to
the Rights issue.
The record date with Euroclear Sweden AB for receiving subscription rights is
October 22, 2015. The subscription period will run between October 26, 2015, and
November 9, 2015. The Board of Directors is however authorized to, if necessary,
prolong the time for subscription.
For additional information, please contact:
Eva Kaijser, CEO, +46 (0)709 320 901
Jonatan Forsberg, CFO, +46 (0)761 051 310
For more information about Nordic Mines, please visit; www.nordicmines.se.
The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 8.00 a.m. (CET) on October 16, 2015.
Nordic Mines is a Nordic mining and exploration company. The Company was mining
gold in the Laiva mine in Finland during the years from 2011 to 2014. These gold
deposits are 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 is traded on the Nasdaq Stockholm Small Cap
list. See also www.nordicmines.se.
Final conditions rights issue:
http://hugin.info/138647/R/1959274/714101.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#1959274]
Unternehmensinformation / Kurzprofil:
Datum: 16.10.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 427399
Anzahl Zeichen: 6538
contact information:
Town:
Stockholm
Kategorie:
Business News
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