Mon, 30 Jul 2018 15:51:59 +0200

Information regarding previously communicated reverse share split

At the annual general meeting held on 22 May 2018 in Nordic Iron Ore AB (publ) (”Nordic Iron Ore” or the ”Company”) it was resolved on a reverse share split, whereby ten (10) shares will become one (1) share. The board of directors has resolved that the record date for the reverse share split will be 8 August 2018.

The annual general meeting in Nordic Iron Ore held on 22 May 2018 resolved on a reverse share split 1:10, whereby ten (10) existing shares becomes one (1) share, and to authorise the board of directors to resolve on the record date regarding the reverse share split. The board of directors of Nordic Iron Ore has today resolved that the record date shall be 8 August 2018. The shareholders do not have to take any actions in order to participate in the reverse share split.

Following the reverse share split, Nordic Iron Ore’s share will get a new ISIN code. From 7 August 2018, the new ISIN code for the share will be SE0011528017. 

Through the reverse share split the total number of shares in the Company will decrease from 199 097 750 to 19 909 775 shares, each with a quota value of approximately SEK 1.73. In order to facilitate the reverse share split, the annual general meeting also resolved to amend the Company’s articles of association, whereby the number of shares is changed to not less than 9,900,000 and not more than 39,600,000.

The shareholders of the Company will automatically receive a new, lesser, amount of shares in relation to their respective holdings on the record date 8 August 2018. Shareholders with holdings not evenly divided with ten will – at no cost – receive shares from one of the largest shareholder in order for the holdings to be evenly divided with ten. The providing of such shares will be administrated by the issuing agents and Euroclear Sweden AB, without shareholders being required to take any further actions.

Nordic Iron Ore has 36 545 550 outstanding warrants of series 2018/2019, which may be exercised for subscription of shares during the period from an including 1 March 2019 up to and including 31 May 2019. The reverse share split 1:10 will result in corresponding re-calculation of the terms and conditions for the warrants, resulting in that the warrants may be exercised for subscription of not more than 3 654 555 newly issued shares for a subscription price of SEK 10 per share. The total number of outstanding warrants will not be re-calculated. If the warrants are fully exercised, the Company will receive maximum approximately SEK 36.5m.


Stockholm Corporate Finance is financial adviser and Hamilton Advokatbyrå is legal adviser to the Company I relation to the reverse share split. Hagberg & Aneborn Fondkommission AB is issuing agent in relation to the reverse share split.

For further information, please contact:

Paul Marsden Managing Direktor
tel: +44 7776 180 988

Tomas Olofsson Chairman of the Board
tel: +46 (0)70 564 0350

Nordic Iron Ore Group is a mining company with the ambition to revive and develop the iron ore production of Ludvika Mines in Blötberget and Håksberg. The company also intends to expand its mineral resources, and upgrade them to ore reserves, primarily through exploration and other studies of the connecting Väsman field. The Company has all the necessary permits in place for the mine in Blötberget and will be able to produce iron ore of extremely high quality.

For more information, see