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Nordic Mines announces action plan
Press release November 20, 2012
Summary
New issue of shares of not more than approximately SEK 282 million, before transaction costs, with preferential rights for the shareholders of Nordic Mines AB (publ) ("Nordic Mines" or the "Company") (the "Rights issue")
The Rights issue is fully underwritten through subscription and underwriting commitments from a combination of larger shareholders in Nordic Mines and external guarantors, including Eldorado Gold Cooperatief U.A ("Eldorado"), Lennart Schönning, the Chairman of the Board of Directors
The subscription price is SEK 1.10 per new share
Thomas Cederborg, Director of the Board of Nordic Mines, has been appointed as new CEO
Investment plan in place to increase gold production, increase operational reliability and lower the operational costs
Amendment of the loan terms including postponement of the next two amortizations payable to the creditors of the Company, amounting to in total EUR 9.4 million
Berne Jansson is nominated as representative of Eldorado on the Board of Directors
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