STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Endomines’ (STO:ENDO) (HEX:ENDOM) Board of Directors has resolved on the record date for the reverse split of shares.
Reverse share split
The Annual General Meeting in Endomines (“Endomines” or the “Company”) resolved on 18 April 2016 to carry out a reverse share split 1:100, whereby one hundred existing shares will be consolidated into one share. In order to make the reversed share split possible, it was also resolved to change the limits in the Company’s articles of association regarding the minimum and maximum number of shares.
The Swedish Companies Registration Office, Bolagsverket has now registered the reverse share split as well as the changes in the Company´s articles of association and the Board of Directors in Endomines have set the record date for the reverse share split to Friday 29 April 2016.
· Last day of trading in the Endomines’ share before the reverse share split is Wednesday 27 April 2016
· First day of trading in the Endomines share after the reverse share split is Thursday 28 April 2016, which means that the share price from and including 28 April 2016 will reflect the effects of the reverse share split
· Shareholders do not need to take any action in order to participate in the reverse share split
· Shareholders whose shares are nominee-registered in the name of Euroclear Finland Ab will be informed through a special press release on any deviations to the dates above.
Following the reverse share split the Endomines share will have a new ISIN code. From 28 April 2016, Endomines' shares will have the ISIN code SE0008294334.
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 without any further actions by the shareholder.
Changed terms of warrants 2014/2016
Endomines have a total of 174,771,250 warrants of series 2014/2016 outstanding, with the remaining possibilities for subscription during the periods of 18 to 31 May 2016, 18 to 31 August 2016 and 28 November to 9 December 2016. As a result of the reverse share split 1:100, the terms for subscription have been recalculated as per the record date 29 April 2016. The total number of outstanding warrants is not affected by the reverse share split.
After the reverse share split, one (1) warrant entitles to subscription of 0.0072 newly issued shares at a price of SEK 38 per share. The subscription price for shareholders whose shares are registered in Finland is in euro and the subscription price will, as previously, be determined based on Sveriges Riksbank’s official EUR/SEK exchange rate three days before each specific subscription period. For other terms regarding the warrants, please refer to the prospectus for the rights issue 2014 (in Swedish only).
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 10:30 CEST on April 22, 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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