Key Developments: PA Resources AB (PRSAF.PK)
0.03USD
18 Jan 2013
$-0.18 (-85.71%)
$0.21
$0.03
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$0.03
200,000
3,333
$0.25
$0.03
Latest Key Developments (Source: Significant Developments)
PA Resources AB Appoints Mr. Philippe R. Probst as Interim Chief Executive Officer
PA Resources AB announced that the Board of Directors of the Company has decided with immediate effect to appoint Board Member Mr. Philippe R. Probst as the Company’s Chief Executive Officer (CEO). Mr. Bo Askvik is thereby leaving his position as CEO but will be available to the Company for a number of months. Mr. Probst will be CEO during an interim period and the Board intends to start immediately on the work of recruiting a permanent CEO. Full Article
PA Resources AB Appoints Sven A. Olsson Chairman of the Board
PA Resources AB announced that during the Annual General Meeting of the Company, held on May 14, 2013, Mr. Sven A. Olsson was elected Chairman of the Board of Directors of the Company. Full Article
PA Resources AB Spuds Well On Carla South Exploration Prospect in Block I
PA Resources AB announced that the Noble Energy-operated I-7 exploration well on the Carla South exploration prospect in Block I (PA Resources 5.7%) was spudded by the Atwood Hunter semi-submersible drilling rig just before Easter 2013. The Carla South prospect lies on trend with the Carla North discovery recently appraised in Block O to the north of Block I in Equatorial Guinea. The target is Tertiary sandstones of similar age to those in the discovery to the north and the well is expected to take approximately 25 days to reach total depth, with plans for a subsequent sidetrack of similar duration. Full Article
PA Resources AB Appoints New CFO
PA Resources AB announced that it has appointed Tomas Hedstrom as its new Chief Financial Officer (CFO). Mr. Hedstrom has broad international experience in accounting and finance from listed companies and will be a member of PA Resources' Group Management. Full Article
PA Resources AB Proposes No Dividend for FY 2012
PA Resources AB announced that the Board of Directors proposes to the Annual General Meeting that no dividend be paid for the 2012 financial year. This is unchanged from fiscal year 2011. Full Article
Gunvor Group Ltd Acquires Shares in PA Resources AB
PA Resources AB announced that Gunvor Group Ltd has acquired 910,403,811 shares in the Company equivalent to 6.44% of the Company's shares. Before the transaction, the company held no shares in the Company. Full Article
PA Resources AB Completes Rights Issue
PA Resources AB announced that in accordance with previously disclosed information, the Company has completed a fully subscribed rights issue encompassing totally 7,052,751,048 shares divided into 3,824,865,912 A-shares and 3,227,885,136 B-shares. Due to partial registrations of the rights issue, the number of shares and votes in the Company has changed in January 2013 and increased with totally 3,569,256,632 shares divided into 2,334,395,699 A-shares and 1,234,860,933 B-shares. As per January 31, 2013 the total number of shares is 10,662,504,556, of which 2,971,873,351 are A-shares and 7,690,631,205 are B-shares. The total number of votes is 6,817,188,953.5, of which the A-shares correspond to 2,971,873,351 voting rights and the B-shares to 3,845,315,602.5 voting rights. After final registration of the rights issue, which is expected to take place on February 4, 2013, the total number of shares will amount to 14,145,998,972 shares divided into 4,462,343,564 A-shares and 9,683,655,408 B-shares. On February 7 2013 the B-shares are expected to be automatically converted to A-shares. Full Article
PA Resources AB Announces Final Results of Rights Issue
PA Resources AB (PA) announced that the subscription period for PA's rights issue ended on January 23, 2013. The final result of the rights issue shows that 3,570,016,226 shares, representing approximately 51% of the shares offered, were subscribed for with primary preferential right. Of these, 2,335,155,293 represented A-shares and 1,234,860,933 represented B-shares. Additionally, 226,447,991 shares have been subscribed for with subsidiary preferential right and without preferential right according to the principles outlined in the prospectus which was published on December 28, 2012. Notice to those who have subscribed for shares with subsidiary preferential rights and without preferential rights is expected to be distributed on or around January 29, 2013. The remaining 3,256,286,831 shares will be allotted to the guarantors pro rata in relation to their total undertaking, in accordance with the underwriting agreements entered into with the Company. Through the rights issue, which consequently is fully subscribed, PA will receive proceeds amounting to approximately SEK 705 million before transaction related costs. Through the rights issue PA's share capital increases by SEK 705,275,104.80 to SEK 1,414,599,897.20. The number of shares increases by 7,052,751,048 shares (whereof 3,824,865,912 A-shares and 3,227,885,136 B-shares) to 14,145,998,972 shares (whereof 4,462,343,564 A-shares and 9,683,655,408 B-shares). Full Article
PA Resources AB Updates on Rights Issue
PA Resources AB (PA) announced that the subscription period for PA's rights issue ended January 23, 2013. The preliminary result of the rights issue indicates that approximately 3,569 million shares, representing approximately 51% of the shares offered, were subscribed for with primary preferential right. Of these, approximately 2,334 million represented A-shares and approximately 1,235 million represented B-shares. Additionally, subscription forms corresponding to approximately 194 million shares have been received for subscription with subsidiary preferential right and without preferential right. The remaining approximately 3,290 million shares will be allotted to the guarantors pro rata in relation to their total undertaking. Through the rights issue, PA will receive proceeds amounting to approximately SEK 705 million before transaction related costs. Through the rights issue PA's share capital increases by SEK 705,275,104.80 to SEK 1,414,599,897.20. The number of shares increases by 7,052,751,048 shares to 14,145,998,972 shares. The last day for trading in paid subscribed shares (BTA-A) on NASDAQ OMX Stockholm will be January 25, 2013. New A-shares subscribed for with primary preferential right are expected to start trading on NASDAQ OMX Stockholm February 1, 2013, and new A-shares subscribed for with subsidiary preferential right and without preferential right are expected to start trading on NASDAQ OMX Stockholm February 4, 2013. Full Article
PA Resources AB Carries Out Fully Underwritten Rights Issue
PA Resources AB announced that it carries out a fully underwritten rights issue of approximately SEK 705 million, partly directed to owners of the Company’s A-shares and partly to owners of the Company’s B-shares, which were issued following the completion of the offer to the Company’s convertible bondholders. The rights issue is fully underwritten by a underwriting consortium put together by Carnegie Investment Bank AB consisting of 40 Swedish and international investors. The total Rights Issue proceeds amounts to approximately SEK 705 million and the subscription price is set at SEK 0.10 per share.The shareholders of the Company will have preferential rights to subscribe for the new shares. Following the completion of the Rights Issue, the B-shares will automatically be converted into A-shares. The subscription period runs from and including 9 January 2013 until and including 23 January 2013. Full Article
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