STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Highlights during the quarter October – December 2014
· Nickel Mountain Group AB (STO:NMG) held an Extraordinary General Meeting (“EGM”) on October 10, 2014 during which a new Board of Directors was appointed and a fully underwritten rights issue was approved.
· The rights issue amounted to about 68 million NOK, and the terms of the issue were 3 new shares for 1 existing share on the record day. The issue price was 1 NOK per share. The rights issue was fully underwritten and was fully subscribed to in November 2014.
· During the autumn of 2014, the first statements of defence were received from the defendants in the civil court case initiated by NMG against its former board members. A ruling by the Stockholm District Court is expected no earlier than year-end 2015, if not into 2016.
· The financial position and liquidity situation of the group, following the recently completed rights issue, can now be considered satisfactory for the first time in two years.
· In October 2014, the Supreme Administrative Court issued a positive ruling, from NMG’s point of view, in terms of the granted exploitation concessions for the Rönnbäcken Nickel Project (“RNP”).
· Another EGM of NMG was convened on December 17, 2014 whereby PricewaterhouseCoopers (“PwC”) were elected as the new auditor of the Parent Company and of the Group.
Financial results for the 12-month period 2014 and for the quarter October – December 2014
· The net result after tax for the 12-month period January – December 2014 amounted to MSEK –16.0 (MSEK –110.2). This corresponds to earnings per share (EPS) of SEK –0.54 (SEK –6.06).
· The sale of former subsidiary IGE Diamond in June 2014 has positively affected the net result for the report period by approximately MSEK +2.
· The total comprehensive loss for the full 12-month period of 2014 was MSEK –17.1 (MSEK –117.0).
· The net result after tax for the October – December quarter of 2014 amounted to MSEK –4.2 (MSEK –20.1). This corresponds to earnings per share (EPS) of SEK –0.08 (SEK –1.11).
· The total comprehensive loss for the quarter October - December 2014 was MSEK –5.3 (MSEK –20.8).
The vision of Nickel Mountain Group AB is to be an explorer and miner recognized for our attractive assets and ability to effectively run projects from exploration to commercialization, leaving a lasting footprint within the regions we operate through investments, community engagement and transfer of expertise.
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