STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
As communicated in a press release on 22 April, 2016, Endomines AB (”Endomines” or the ”Company”) (STO:ENDO) (HEX:ENDOM) resolved on the Annual General Meeting in Endomines on 18 April, 2016 to carry out a reverse share split 1:100, whereby one hundred existing shares will be consolidated into one share.
The Swedish Companies Registration Office, Bolagsverket has registered the reverse share split and the Board of Directors in Endomines have set the record date for the reverse share split to Friday 29 April, 2016.
For Finnish investors, who have their shares registered in Euroclear Finland Oy, the last day of trading on Nasdaq Helsinki with the current share (with ISIN-code SE0001803131) will be on Wednesday 27 April, 2016.
There will be no trading in the shares of Endomines AB (publ) listed in Helsinki on Thursday 28 April and Friday 29 April, followed by trading with the new share on Nasdaq Helsinki (with ISIN-code SE0008294334) commencing on Monday 2 May, 2016.
Shareholders in Finland have the possibility to trade the Endomines share on Nasdaq Stockholm during 28-29 April.
Following the reverse share split, the total number of shares in the Company will be reduced from 1,048,627,500 shares to 10,486,275 shares with a quota value of 25 SEK per share.
Each shareholder will automatically receive the new lower number of shares in relation to the number of shares held at the record date. Shareholders whose shares on the record date are not evenly divisible by 100, will, free of charge, receive shares from Erik Penser Bank AB in order for their holdings to be evenly divisible by 100. Such surplus shares are distributed through Euroclear Sweden AB and Euroclear Finland OY without any further actions by the shareholder.
Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 12:00 CEST on 25 April, 2016
Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area.
The Company’s first mine, Pampalo, started in February 2011. During 2014, Endomines initiated the production of ore from the mine in Rämepuro. The ore from satellite mines will be processed in the centrally located mill at Pampalo.
The Company’s operations are based on sustainable principles and on minimizing the impact on the environment.
Endomines applies SveMin's & FinnMin's respective rules for reporting for public mining & exploration companies. The Company has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources.
Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise.
The shares of Endomines AB are quoted on Nasdaq Stockholm under ticker ENDO and on Nasdaq Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.
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