Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Endomines AB (publ) (the “Company”) intends to undertake a directed new share issue aimed at Swedish and international investors of up to 7,944,000 shares (the “Issue”). The new issued shares will constitute at maximum approximately 10 per cent of the total shares in the Company prior to the Issue.
The Issue is intended to be effected by the means of the Board of Directors’ exercise of the authorization adopted by the Annual General Meeting on 26 April 2012, by which the Board of Directors was authorized to resolve, with deviation from the shareholders’ pre-emption rights, on a new issue of maximum 7,944,162 shares.
The price for the new shares relating to the Issue is intended to be determined through book building which will begin around 17.31 on 26 March 2013. The Board of Directors intends to pass a resolution approving the Issue and allocation of the new shares before the commencement of trading on NASDAQ OMX Stockholm on 27 March 2013.
Payment for the new shares will be made in cash. The proceeds from the Issue are intended to be used to fund a more expansive exploration program along the Karelian Gold Line.
The Issue is subject to a resolution by the Board of Directors and the Board of Directors can choose to cancel the book building and can refrain from continue with the Issue.
Pareto Öhman AB is financial adviser to the Company in connection with the Issue. Cederquist is the legal adviser in connection with the Issue.
For further information, please contact:
Markus Ekberg, CEO of Endomines AB, tel. +358 40 706 48 50
