Conversion period begins for PA Resources convertibles
(Thomson Reuters ONE) - The holders of PA Resources AB's convertible bonds 2008/2014 canconvert them into new shares during the month of September 2009.A total of 72,757,002 convertible bonds with a nominal amount of SEK16 per convertible bond were issued at the completion of the newissue of convertible bonds in January 2009. The convertible loanamounts to SEK 1,164,112,032 in total. The convertible bonds arelisted both on NASDAQ OMX Nordic Exchange in Stockholm and on OsloStock Exchange.According to the terms, the convertible bonds can be converted intonew shares between the 1 - 30 September each year, for the first timein September 2009 and the last time in September 2013. The conversionprice is SEK 16 per share.Please note that if conversion of convertible bonds into shares isdone in September 2009, the right to receive accrued interest on thenominal amount of the convertible bonds from 15 January 2009 willfall.Please note that it will not be possible to transfer PA Resources'convertible bonds between Sweden and Norway from 26 August 2009 up toand including 1 October 2009. After 1 October this is possible again.Instructions concerning the conversion process, application forms aswell as other information about the convertible bonds, are availableon the company's website www.paresources.se under InvestorRelations/The convertible bonds.Summary information on the convertible loan:ISIN Number:SE0002694455Ticker symbol:PAR KV1 on NASDAQ OMX Nordic Exchange in Stockholm, PAR02 on OsloStock ExchangeIssuer:PA Resources ABDuration time:The convertible bonds duration time is from 15 January 2009 up to andincluding 15 January 2014.Interest:The convertible bonds carry a fixed annual interest of 11 percentduring the duration time. The interest is paid annually on January 15each year, first time on 15 January 2010 and last time on 15 January2014.Nominal amount:16 SEK per convertible bondConversion:The convertible bonds can be converted into new shares during themonth of September each year, the first time in September 2009 andthe last time in September 2013.Repayment:If conversion into new shares is not made in 30 September 2013 at thelatest, the outstanding convertible loan amount will be repaid to theholder of the convertible bonds at maturity including accruedinterest from the last interest due date (15 January 2013).For complete terms for PA Resources' convertible loan 2008/2014, seethe prospect that is available on the company's websitewww.paresources.se under Investor Relations/The convertible bonds.Stockholm, 21 August 2009PA Resources AB (publ)For additional information, please contact:Bo AskvikCFO, PA Resources ABTel +46 8 21 83 82orAnn-Kristin LittorinHead of Corporate Communication, PA Resources ABMobile: +46 73 923 903 68. E-mail: info(at)paresources.sePA Resources AB (publ) is an international oil and gas group with thebusiness strategy to acquire, develop, exploit and divest oil and gasreserves, as well as explore new findings. The Group operates inTunisia, United Kingdom, Denmark, Greenland, Netherlands, EquatorialGuinea and the Republic of Congo (Brazzaville). PA Resources is todayone of the largest oil producers in Tunisia. The parent company islocated 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 NordicExchange in Stockholm, Sweden (segment Mid Cap). For additionalinformation, please visit www.paresources.se.http://hugin.info/130006/R/1336453/318059.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 21.08.2009 - 15:09 Uhr
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