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2015-10-23

PA Resources AB: The Nomination committee's proposal regarding Board election to the Extraordinary General Meeting in PA Resources

The Nomination Committee of PA Resources AB (publ) proposes the
following withas regards to Board election to the company's
Extraordinary General Meeting, which will be held on 27 October 2015.

The Nomination Committee of PA Resources AB, which was established
according to the principles adopted at the Annual General Meeting
2014, consists of Christina Hadjigeorgiou representing the
shareholder Gunvor Group Ltd Mats Nilstoft representing the
shareholder Villefranche S.a.r.l., Garrett Soden, representing the
shareholder Lorito Holdings Ltd and Paul Waern, the Chairman of the
Board.

In accordance with whatprevious information was communicated in
connection with the notice to the Extraordinary General Meeting to be
held on 27 October 2015, the item Board election has been added to
the agenda as a consequencefollowing of the announcement by Tomas
Hedström, the Company's CFO, that he will resign as a Board member in
connection with the general meeting. Tomas Hedström's Board position
was a temporary measure during the corporate reorganisation. Now that
the corporate reorganisation process has been terminated, it is no
longer practical to have a majority of the company's management
represented within the Board, which has since the AGM 2015 consisted
of Paul Waern, the Chairman of the Board, Mark McAllister/CEO and
Tomas Hedström/CFO.

With this background, the Nomination Committee proposes that the
Chairman of the Board, Paul Waern, and Mark McAllister/CEO wshould be
re-elected and that Catharina Nystedt-Ringborg and Garrett Soden
shwould be newly-elected as Board members.

Catharina Nystedt-Ringborg, born in 1951, is a former Board member of
PA Resources during several years and has many years of experience
from Board work within international energy and oil companies. She is
presently, amongst other things, among all active as a Board member
and Vice Chairman of the Swedish Think Tank Global Challenge and of
the Swedish North African Chamber of Commerce.

Garrett Soden, born in 1974, has several years of experience from
Board work and as Chairman, CEO and CFO of various natural resources
companies within the Lundin Group. He is presently active as interim
CFO and Board member of the solar power production company, Etrion
Corporation, withhich shares are listed at on the Toronto Stock
Exchange and at NASDAQ OMX Stockholm. He is also a Board member and
Chairman of the Audit Committee of the Norwegian oil and gas company,
Panoro Energy ASA, whoseich shares are listed aton the Oslo Stock
Exchange.

Catharina Nystedt-Ringborg would, with respect to her historical
knowledge of the company and her international network in among all
Tunisia, be very influential in the work of the board given the
challenges facing the company.have important influence on the
upcoming Board work and the challenge which the company now will
face. Garrett Soden would also be an important asset to the company
and the Board due to his experience with international energy, oil
and gas companies.

The AGM 2015 decided that the board fee to the Chairman would be
unchanged SEK 550,000. No other board fee was decided by the AGM
since both Mark McAllister and Tomas Hedström were employed in the
company. The Board fees for the new board members are proposed to be
SEK 160,000 to each board member not employed, which is based on the
previous year's board member fee of SEK 275,000 pro rata for the
mandate period.

Additional information about the proposed new Board members can be
found on the company's website at www.paresources.se

Stockholm 23 October, 2015
PA Resources AB (publ)

For additional information, please contact:

Paul Waern, Chairman of the Board
Phone: +46 8 545 211 50
E-mail: ir@paresources.se

PA Resources AB (publ) is an international oil and gas group which
conducts exploration, development and production of oil and gas
assets. The Group operates in Tunisia, Republic of Congo
(Brazzaville), United Kingdom, Denmark, Netherlands and Germany. PA
Resources has oil production in Tunisia. The parent company is
located in Stockholm, Sweden. PA Resources' net sales amounted to SEK
603 million in 2014. The share is listed on the NASDAQ OMX in
Stockholm, Sweden. For additional information, please visit
www.paresources.se.

The above information has been made public in accordance with the
Securities Market Act and/or the Financial Instruments Trading Act.
The information was published at 17:30 CET 23 October 2015.

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http://news.cision.com/pa-resources-ab/r/the-nomination-committee-s-prop...
http://mb.cision.com/Main/790/9854089/435296.pdf

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