PA RESOURCES: SHARE CAPITAL INCREASE IN PA RESOURCES
As a consequence of en exercise of allocated employee stock options, the share capital of PA Resources has during June 2008 increased from SEK 72,507,002 to SEK 72,557,002. This is an increase with SEK 50,000 corresponding to an increase of 100,000 shares. The total number of shares and voting rights in the company amounts herewith to 145,114,004.
PA Resources' Employee Stock Option Program, which was approved by an Extraordinary General Meeting in October 2005, is currently in its exercise phase. The program provides 21 Group employees in senior and key positions with an opportunity to acquire new shares at an issue price equivalent to 115 percent of a period average share price on the allocation date. In total 4,325,000 share warrants remain as per June 30, 2008 out of which 3,825,000 fall due as per October 31, 2008 and 500,000 as per December 31, 2010.
More information of the Employee Stock Option Program is available in PA Resources' Annual Report 2007, note 8, page 75.
The share capital increase with a total of SEK 50,000 has been registered by Bolagsverket (the Swedish Companies Registration Office) on June 12, 2008.
Stockholm, July 4, 2008
PA Resources AB (publ)
For more information, please contact:
Bo Askvik
CFO, PA Resources AB
Telephone: +46 708 19 59 18
E-mail: info@paresources.se
PA Resources AB (publ) is a fast growing oil and gas group with the business strategy to acquire, develop and exploit oil and gas reserves, as well as explore new findings. The Group operates in Tunisia, Norway, Greenland, Great Britain, Denmark, Netherlands, Equatorial Guinea and the Republic of Congo (Brazzaville). PA Resources is today one of the largest oil producers in Tunisia. The parent company is located in Stockholm, Sweden.
PA Resources AB's net sales amounted to approximately SEK 2,794 Million during 2007. The company is primary listed on the Oslo Stock Exchange in Norway (segment OB Match) and secondary listed on the OMX Nordic Exchange in Stockholm, Sweden (segment Large Cap). For additional information, please visit www.paresources.se.
