Kopy Goldfields AB (publ) ("Kopy Goldfields" or the "Company") publishes its Information Memorandum today in connection with the rights issue of new shares with preferential rights for the Company's existing shareholders with a subscription period that starts on 7 January 2015. The Information Memorandum contains financial information that has not previously been published.
This press release may not be released, published or distributed, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where such action is wholly or partially subject to legal restrictions. The information in this press release does not constitute an offer to acquire, subscribe for or otherwise trade in shares, subscription rights or other securities in Kopy Goldfields AB (publ). For further information, please refer to "Important Information" in this press release.
The Board of Kopy Goldfields has prepared an Information Memorandum in connection with the new rights issue of MSEK 10.9 with preferential rights for existing shareholders of Kopy Goldfields.
In the press release issued on 17 November 2014 there were typos in the dates for trading in subscription rights and the subscription period for the Rights Issue. Correct information follows below.
The rights issue in summary
The holders of shares in Kopy Goldfields on the record date 29 December 2014 have preferential rights. Five (5) existing shares held on the record date entitle the holder to subscribe for four (4) new shares in the rights issue. The issue price is SEK 0.45 per share.
Subscription of shares with preferential rights shall be made by cash payment during the period from and including 7 January 2015 up to and including 21 January 2015. Subscription for shares without preferential rights shall be made through a subscription application during the same period. Trading in subscription rights will take place from and including 7 January up to and including 19 January 2015. Trading in paid subscription rights (BTA) will take place from and including 7 January until the Swedish Companies Registration Office (sv. Bolagsverket) has registered the issue.
Financial information that has not been published before
The Board of Kopy Goldfields deems that the following new financial information could potentially be considered price sensitive. On page 19 in the Information Memorandum, under "Financial position and capital structure" the following can be read:
As of 30 September 2014 the Company's interest-bearing debt amounted to MSEK 3.0. Cash and cash equivalents amounted to MSEK 2.9, which means that there was an interest-bearing net debt of MSEK 0.1. Shareholder's equity, including retained losses, amounted to MSEK 112.8 on 30 September 2014, representing an equity ratio of 90.9 per cent. The change in Equity since the interim report on 30 June 2014 mainly relates to the accounting effects of the joint venture agreement for the Company's license Krasny which was signed in August 2014.
EQUITY AND LIABILITIES, MSEK
| Per 30 September 2014 | |
| Total Current liabilities | 7.3 |
| Against guarantee or surety | 0 |
| Against collateral | 0 |
| Without guarantee/surety or collateral | 7.3 |
| Total Non-current liabilities | 4.0 |
| Against guarantee or surety | 0 |
| Against collateral | 0 |
| Without guarantee/surety or collateral | 4.0 |
| Equity (excl. Retained losses) | 261.3 |
| Shareholder's capital | 20.0 |
| Legal reserve | 0 |
| Other reserves | 241.3 |
| Total capitalization | 272.6 |
NET FINANCIAL INDEBTEDNESS, MSEK
| Per 30 September 2014 | |
| A. Cash | 0 |
| B. Other liquid funds | 2.9 |
| C. Marketable securities | 0 |
| D. Liquidity (A+B+C) | 2.9 |
| E. Current receivables | 8.9 |
| F. Current bank debt | 0 |
| G. Current receivables share of long-term liabilities | 0 |
| H. Other current financial liabilities | 7.3 |
| I. Current financial liabilities (F+G+H) | 7.3 |
| J. Net current liabilities (I-E-D) | -4.5 |
| K. Non-current bank debt | 0 |
| L. Issued bonds | 0 |
| M. Other non-current liabilities | 4.0 |
| N. Non-current liabilities (K+L+M) | 4.0 |
| O. Financial net indebtedness (J+N) | -0.5 |
The Information Memorandum (in Swedish) is available on Kopy Goldfield's website www.kopygoldfields.com and Mangold's website http://www.mangold.se/MangoldOnline/Nyheter.a...mp;index=1.
Financial advisor
Mangold Fondkommission AB is acting as financial advisor in the rights issue.
This is a translation of the Swedish version. In case of any discrepancy between the English and the Swedish version, the Swedish version shall take precedence.
Stockholm, 17 December 2014
For further information, please contact:
Mikhail Damrin, VD, +7 916 808 12 17, mikhail.damrin@kopygoldfields.com
Tim Carlsson, CFO, + 46 702 31 87 01, tim.carlsson@kopygoldfields.com
Mangold Fondkommission AB, Phone: +46 (0)8 5030 1550, info@mangold.se
