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PA Resources AB (publ) – Waiver Accepted by the holders

9 July 2013

The waiver request submitted by PA Resources AB (publ) regarding potential breaches of certain covenants in the terms and conditions for the corporate bond of up to SEK 850,000,000, has been granted by the holders in a procedure in writing with last day for participation on the 4th of July, 2013.
CorpNordic Sweden AB is the appointed agent for the holders of the bond issued by PA Resources of up to SEK 850,000,000 (ISIN SE0003652577). In a press release on the 6 June 2013, PA Resources informed that the company will submit a compliance certificate for the second quarter of 2013 with information that it might not be able to satisfy certain financial covenants for the bond loan. In said press release, PA Resources also presented a refinancing plan containing of a fully underwritten rights issue of approximately SEK 891, 000,000 and a refinancing of the bond loan which is maturing in October 2013 with a new external bond financing of up to SEK 1,000,000,000.
The refinancing plan would require a waiver from the holders for the potential breaches of the financial covenants of the bond loan.
The agent convened a procedure in writing with a final date for participation 4 July, 2013 for the holders to resolve upon the company’s waiver request. The holders decided to grant the waiver request to PA Resources. The resolution passed is binding on all holders, irrespective of them participating and voting in the procedure in writing.
Minutes from the calculation of votes have been executed and are held by the agent.
The agent has notified PA Resources that the waiver has been accepted by the holders in the voting procedure in writing.

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