STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
The bondholders in PA Resources’ NOK and SEK denominated bonds, have at the bondholders meeting and by the written procedure respectively, approved PA Resources’ proposal announced on 10 February 2015 of, inter alia, deferred interest payments. The decision to approve the proposal obtained 99.86% of the votes in the written procedure for the SEK bonds and was unanimous in the bondholders meeting for the NOK bond.
In summary, the approval means that the originally scheduled payment dates in October 2014 under the bonds have been deferred to 31 March 2015 and that, consequently, interest payments owed to PA Resources’ largest creditor and shareholder, the Gunvor Group, under credit facilities with them, are deferred until 31 March 2015. Notwithstanding the interest payment deferrals, a majority of the bondholders, and the Gunvor Group, are entitled under the respective agreements to give notice to bring the relevant interest payment dates forward to the third business day following the date on which the notice is given.
Stockholm, 26 February 2015
PA Resources AB (publ)
For queries, please contact:
PA Resources AB
Tel: +46 (0)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), Equatorial Guinea, United Kingdom, Denmark, Netherlands and Germany. PA Resources is producing oil in West Africa and North Africa. The parent company is located in Stockholm, Sweden. PA Resources’ net sales amounted to SEK 1,049 million in 2013. 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 07.45 a.m. CET on 26 February 2015.
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