PA RESOURCES: SHARE CAPITAL INCREASE IN PA RESOURCES IN JULY
As a consequence of an exercise of allocated employee stock options, the share capital of PA Resources has increased from SEK 72,557,002 to SEK 72,657,002 during July 2008. This is an increase with SEK 100,000 corresponding to an increase of 200,000 new shares. The total number of shares and voting rights in the company amounts herewith to 145,314,004.
PA Resources' Employee Stock Option Program, which was approved by an Extraordinary General Meeting in October 2005, is currently in its exercise phase. In July, 200,000 share warrants have been exercised for subscription of new shares in the company to an issue price of SEK 36.95 per share, which has resulted in an increase of share capital with a total of SEK 100,000. The increase of share capital with SEK 100,000 has been registered by Bolagsverket (the Swedish Companies Registration Office) on July 11, 2008.
The Employee Stock Option Program consists of a total of 3,625,000 share warrants remaining, which can be exercised for subscription of shares until October 31, 2008. After this date, share warrants not exercised will fall due. In addition, there are 500,000 outstanding share warrants that can be exercised for subscription of shares during the period December 1 to December 31, 2010.
More information about the Employee Stock Option Program is available in PA Resources' Annual Report 2007, note 8, page 75.
Stockholm, August 14, 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 an international 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.
