Oslo Stock Exchange has approved PA Resources AB's application to delist the company's share and convertible bond loan with last quotation day on 31 January 2011. At the same time NASDAQ OMX has approved the company's application for a primary listing of the company's share at the exchange in Stockholm. PA Resources also announces the information document prepared in connection with the primary listing.

The oil and gas company PA Resources AB has, as previously has been announced, applied for delisting of its share and convertible 2008/2014 from the Oslo Stock Exchange and primary listing of its share on NASDAQ OMX Stockholm. The share has been primary listed on the Oslo Stock Exchange since 2001 and secondary listed on the NASDAQ OMX Stockholm since 2006. The convertible bond is listed on both exchanges and active trading takes place in Stockholm, while the convertible bond never has been traded on the Oslo Stock Exchange.

Oslo Stock Exchange has now approved PA Resources' application for delisting of the company's share and convertible with last quotation day on the 31 January 2011. NASDAQ OMX Stockholm has also approved the company's application for primary listing from 1 February 2011.

The reasons for the company's decision to delist the share and convertible from Oslo Stock Exchange include the substantial decrease in trading in the company's share on the Oslo Stock Exchange as well as the additional costs and extra work associated with being listed on two exchanges.

"We want to thank Oslo Stock Exchange for their cooperation during the almost 10 years we have been listed. As trading volumes have shifted over the last couple of years from the Oslo Stock Exchange to NASDAQ OMX Stockholm, we have decided to delist our share and convertible from the Oslo Stock Exchange. We welcome all investors to trade at NASDAQ OMX, which offers good liquidity in our share and convertible", says Bo Askvik, President and CEO of PA Resources AB.

Tags: PA Resources