On Nov. 20, PA Resources (STO: PAR) (OSE: PAR) submitted an application to delist its shares from the Nasdaq Stockholm exchange. In the application to Nasdaq Stockholm, the last date for trading the share has been set to Dec. 31.
PA Resources’ commitment to its creditors to delist its shares was first announced in conjunction with the publication of the Reorganisation Plan on Sept. 9.
The board of directors deems Dec. 31 to be an appropriate date for cessation of trading, as, by then, sufficient time has passed since the delisting announcement to allow shareholders in PA Resources to sell their shares if they so wish. The last day of trading will, however, ultimately be determined by Nasdaq Stockholm once the application has been processed.
Following the delisting the shareholders will retain their shares in PA Resources as an unlisted holding.