Malka Oil AB announced today, 13th of February 2009, that the company plans for a financial reconstruction. The message state that the company has a financing need of MUSD 15 and that, due to the prevailing market conditions in combination with Malka Oil's current capital structure, the Board of Directors has come to the conclusion that it is not possible to attract new share capital unless the two outstanding convertible bond loans with a total par value of MUSD 80 are restructured.
With reference to the published information the NASDAQ OMX Stockholm AB and the company’s Certified Adviser HQ finds that there now is adverse uncertainty regarding Malka Oil AB’s financial situation.
The NASDAQ OMX Stockholm AB has therefore decided that the shares in Malka Oil AB (ISIN code SE0001587593 and order book ID 49922) will be placed on the observation segment until further notice.
The shares will be transferred with effect from Monday, February 16th, 2009.
