Axactor SE

AGM Information • May 8, 2014

NMG: Summary of the Extraordinary General Meeting in Nickel Mountain Group AB (publ) conducted today

NMG: Summary of the Extraordinary General Meeting in Nickel Mountain Group AB (publ) conducted today

· Set-off issue approved

· Board's proposal to separate subsidiary African Diamond AB approved

An Extraordinary General Meeting ("EGM") in Nickel Mountain Group AB

("NMG") was today held in Stockholm. The agenda contained two items,

namely firstly to conduct a debt set-off issue, and secondly, to approve

a proposal by the Board of Directors to dividend out all the shares in

subsidiary African Diamond AB ("ADIAM") to the shareholders of NMG.

The EGM first approved the proposal by the Board of Directors s to set

-off in total SEK 5,603,552.20 of short term debt for 1,474,619 new

shares. The issue price per share consequently amounted to SEK 3.80.

Considering that the creditors setting off debt for new shares are all

related parties, the decision had to be passed with required quorum.

This was the case. After the registration of the set-off issue by the

Swedish Companies Registrar, the total share capital of the Company will

amount to SEK 11,351,170 and the new number of shares outstanding will

be 22,702,340

The EGM also decided on distributing as a dividend all the shares of

wholly-owned subsidiary African Diamond AB pro rata to the shareholders

of Nickel Mountain Group AB. The resolution implies that 1 existing

share of Nickel Mountain Group AB gives the right to receive 1 share of

African Diamond AB. The total dividend, according to the book value of

African Diamond AB, corresponds to SEK 556,558.50 as per March 31, 2014,

which corresponds to SEK 0.025 per Nickel Mountain Group share after the

above set-off issue. The Board of Directors got authorized by the EGM to

decide on a record date for the dividend, which however shall occur

after the registration of the set-off issue above by the Swedish

Companies Registrar, but before the 2014 Annual General Meeting, which

takes place on June 4 in Stockholm.

At the EGM there were 13,291,645 votes present or 62.6% of all

outstanding shares and votes.

For and on behalf of the Board of Directors of Nickel Mountain Group AB:

Torbjörn Ranta

Managing Director

For information, please contact:

Torbjorn Ranta

Managing Director

Tel: +46 8 402 28 00

Mobile: +46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

Or contact:

Erlend Dunér Henriksen

Deputy board member

Mobile: +47 920 18 950

E-mail: erlend@henriksen.as

Cautionary Statement: Statements and assumptions made in this document

with respect to Nickel Mountain Group AB's ("NMG") current plans,

estimates, strategies and beliefs, and other statements that are not

historical facts, are forward-looking statements about the future

performance of NMG. Forward-looking statements include, but are not

limited to, those using words such as "may", "might", "seeks",

"expects", "anticipates", "estimates", "believes", "projects", "plans",

strategy", "forecast" and similar expressions. These statements reflect

management's expectations and assumptions in light of currently

available information. They are subject to a number of risks and

uncertainties, including, but not limited to, (i) changes in the

economic, regulatory and political environments in the countries where

NMG operates; (ii) changes relating to the geological information

available in respect of the various projects undertaken; (iii) NMG's

continued ability to secure enough financing to carry on its operations

as a going concern; (iv) the success of its potential joint ventures and

alliances, if any; (v) metal prices, particularly as regards nickel. In

the light of the many risks and uncertainties surrounding any mineral

project at an early stage of its development, the actual results could

differ materially from those presented and forecast in this document.

NMG assumes no unconditional obligation to immediately update any such

statements and/or forecasts.