The application period to subscribe for new shares in Nordic Mines AB (publ) is extended with 7 days until and including Augu...
25 July 2014 - 4:00PM
Not for distribution, directly
or indirectly, in or into the United States, Australia, HongKong,
Japan, Canada, New Zealand, Singapore or South Africa or in any
other jurisdiction where the distribution of this press release
would be unlawful
PRESS RELEASE, July 25, 2014
The English text is an
unofficial translation of the Swedish original and in case of any
discrepancies between the Swedish text and the English translation,
the Swedish text shall prevail. This is not a legal
document
As previously announced, the
Board of Directors in Nordic Mines AB (publ) ("Nordic Mines" or the
"Company") has intended to extend the application period should not
the conditions for application be fulfilled by the end of the
period.
The Company's lenders have,
subject to certain conditions, approved the Swedish composition
plan. However, the final agreements between the Company and its
lenders, regarding the principal conditions including, inter alia,
write-downs of existing claims, are not yet finalized. Thus, the
Board of Directors has decided to prolong the application period
for the rights issue until 17:00 CET on August 8, 2014. The period
of trading in subscription rights is also extended. The last day of
trading is on August 5, 2014.
Applications to subscribe for shares in the rights
issue, with or without preferential rights, will be conditional
upon that an agreement is reached between the Company, Nordic
Mines Oy and the Company's creditors regarding, among other things,
write-downs of existing claims under the facility agreement further
described in the prospectus and that the Swedish and Finnish court
respectively has determined on composition plans in regards to the
ongoing Swedish company reorganization and the Finnish company
reorganization relating to companies within the Nordic Mines
Group.
The Board of Directors has resolved on the
following timetable to enable fulfillment of the conditions:
-
The application period is extended until 17:00
CET on August 8, 2014. The last day of trading in subscription
rights is on August 5, 2014.
-
Should the conditions for application for
subscription be fulfilled and, in the Board of Directors' opinion,
it's expected that the conditioned minimum amount of the rights
issue is achieved, payment instructions will be distributed after
the application period. Full cash payment for the subscribed shares
should be made no later than 17:00 CET on August 22, 2014 according
to the instructions on the payment slip.
-
The rights issue is expected to be registered at
the Swedish Companies Registration Office during week 35 2014 after
which paid subscribed shares (BTA) will be converted to ordinary
shares.
-
The final outcome of the rights issue is
expected around August 28, 2014.
Should the conditions of the rights issue and for
application to subscribe for new shares not be fulfilled by the
last day of the application period on August 8, 2014, the Board of
Directors reserves the right to extend the period further. This
will be announced no later than on August 8, 2014.
Timetable for the rights
issue
Last day of trading in subscription rights |
August 5, 2014 |
Last day
to apply for subscription of shares |
August 8,
2014 |
Last day for payment of new shares |
August 22, 2014 |
Registration at Swedish Companies Registration Office |
Expected
during week 35 2014 |
Final outcome of the rights issue |
Around August 28, 2014 |
Additional information about
Nordic Mines and the rights issue
A prospectus describing Nordic Mines and the
rights issue and subscription forms are available at Nordic Mines
(www.nordicmines.com) and Evli Bank's website (www.evli.com). The
prospectus can also be obtained from Evli Bank in Stockholm during
office hours,
+46 8 407 80 14.
For additional information,
please contact:
Thomas Cederborg, CEO,
+46 708 480 521
Jonatan Forsberg, CFO, +46 761 051 310
For more information about Nordic Mines, please
visit; www.nordicmines.se
The above information may be information that
Nordic Mines AB (publ) is required to disclose under the Securities
Market Act and / or the Trading in Financial Instruments. The
information was published at 08:00 CET on July 25, 2014.
Nordic Mines is a Nordic mining
and exploration company whose goal is to become one of Europes
leading gold producers and a role model in respecting the
environment. The Laiva mine in Finland commenced gold production in
late 2011. The discovery is one of the largest in the Nordic
countries. Exploration is performed in Finland and Sweden. Nordic
Mines was founded in 2005 and has almost 100 employees and is
headquartered in Uppsala. Its shares are traded on the Nasdaq OMX
Small Cap list. See also www.nordicmines.se
Extended application period to
subscribe for new shares
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nordic Mines AB via Globenewswire
HUG#1838130