Axactor SE

NMG: 9 month interim report for the period January - September 2014 - Nickel Mountain Group (publ) AB

Highlights during the 3rd quarter 2014

· A Norwegian new main owner, Strata Marine & Offshore AS, on August 29th

acquired a 28.9% interest in NMG from Altro Invest AB.

· The new main owner in September called for an EGM, which took place after

the end of the report period in October.

· The net result after tax for the 9-month period January - September 2014

amounted to MSEK -11.8 (MSEK -90.0). This corresponds to earnings per share

(EPS) of SEK -0.55 (SEK -0.50). The EPS figure for 9 m 2013 is before a reversed

share split 10:1 conducted in end of December 2013. The sale of former

subsidiary IGE Diamond in June 2014 has positively affected the net result for

the report period by approximately MSEK +2.

· The total comprehensive loss for the first nine months of 2014 was MSEK

-12.9 (MSEK -96.1).

· The net result after tax for the July - September quarter of 2014 amounted

to MSEK -1.6 (MSEK -4.3). This corresponds to earnings per share (EPS) of SEK

-0.07 (SEK -0.02).

· The total comprehensive loss for the 3rd quarter of 2014 was MSEK -1.6 (MSEK

-2.6).

Events after the end of the report period

· NMG called for an EGM on September 10, which took place on October 10, 2014.

A new Board of Directors was appointed and a fully underwritten rights issue was

approved.

· The rights issue amounted to some 68 million NOK, and the terms of the issue

were 3 new shares for 1 existing share on the record date. Issue price was 1

NOK/share.

· The subscription period lasted between October 23 and November 6. All the

new shares were subscribed. The guarantee consortium that had underwritten the

rights issue picked up some 12% of the issued shares.

· During autumn 2014 the first statements of defence from the defendants in

the civil court case initiated by NMG against its former board members have been

received. The ruling by the Stockholm District Court is expected not earlier

than towards year end 2015, maybe not until 2016.

· The financial and liquidity situation of the group is following the

completed rights issue for the first time in some 20 months satisfactory.

· On October 20, the Supreme Administrate Court issued a positive ruling from

NMG's point of view in terms of the granted exploitation permits.

An EGM of NMG will be convened on December 17, 2014 where it is being proposed

to elect PricewaterhouseCoopers as new auditor of the parent company and of the

group.

(Complete report enclosed for the third quarter 2014)

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