PA Resources: Fall 31 per cent after writedowns of 2.1 billion – Dagens Industri

PA Resources: Fall 31 per cent after writedowns of 2.1 billion – Dagens Industri

PA Resources: Fall 31 per cent after writedowns of 2.1 billion

                  2015-01-20 11:05
             

 (SIX) Oil and gas company PA Resources announced today that a  impairment of € 2.1 billion will be reported in  Year-end Report 2014 after further impairment tests  implemented during the closing process.       Loss impairment charges carries with it, is expected to result in  the company's equity will fall below half of the  registered share capital. If so, it will be apparent  through the balance sheet as the company prepared and then you have an extra  general meeting called to decide whether the company should be wound up  or continue operations.       The cost also means that the company violates its financial  covenants for their sec- and NOK-denominated bonds as of  31 December 2014. The Company intends to convene the bond owner meetings  for its outstanding bonds, to propose amendments to  or waivers from some of the conditions in the bond agreements.       The shares are writing down 31 percent to SEK 1.54.      Gabriel Cardona C   ervantes  mailto: gabriel.cardonacervantes@six-group.se  www.blogg.six.seSIXNews  SIX News    Magnus Bernet +46 8586163 85  mailto: magnus.bernet@six-group.se  www.blogg.six.seSIXNews  SIX News