Axactor SE

Share Issue/Capital Change • Mar 15, 2012

15 March 2012

IGE: Approved Underwritten Rights Issue Prospectus and Subscription Period commences

Prospectus in connection with fully Underwritten Rights Issue in IGE Resources AB (Publ) has been approved by the Financial Supervisory Authority of Norway. The Subscription period for the Rights Issue starts tomorrow, on the 16th March 2012.

Reference is made to stock exchange notice 5 March 2012 and the Board of Directors' resolution to carry out a Rights Issue of up to 129,820,875 new shares ("the Offer Shares") at a Subscription Price of NOK 0.75 per Offer Share, with preferential rights for existing shareholders as of end of 7 March 2012.

The Company has today published the Prospectus in connection with the Rights Issue, the terms and conditions for which were announced on 5 March 2012. The Prospectus has been reviewed and approved by the Financial Supervisory Authority of Norway.

Subscription Price

The Subscription Price is NOK 0.75 per Offer Share.

Subscription Rights

Each Existing Shareholder has received 1 (one) Subscription Right for every 2 (two) shares held based on their shareholding at the end of 7 March 2012, and registered in the register of shareholders (EuroClear/VPS) on the record date, 12 March 2012. The number of Subscription Rights issued to each Existing Shareholder has been rounded down to the nearest whole Subscription Right. The holders of Subscription Rights will be entitled to subscribe for and be allocated 5 (five) Offer Share for every 1 (one) Subscription Right held. Oversubscription and subscription without Subscription Rights are permitted.

Subscription Rights transferred to shareholders registered in VPS will be fully tradable and listed on Oslo Børs with ticker code "IGE T".

Regarding restrictions in respect of who may be allocated or permitted to acquire or exercise Subscription Rights, reference is made to Section 5.6 and 5.17 in the Prospectus.

The Subscription Rights are expected to have economic value.

Please note that Subscription Rights that are not used to subscribe for Offer Shares before the end of the Subscription Period, or not sold before 27 of March 2012 at 17:30 CET, will lapse without compensation and consequently be of no value.

Subscription Period

From and including 16 March 2012 until 30 March 2012 at 17:30 CET.

Trading in Subscription Rights

From and including 16 March 2012 to 27 March 2012 at 17:30 hours CET.

Underwriting agreement

The rights issue is fully underwritten, ref. stock exchange notice 5 March 2012. The underwriting commitment is subject to market conditions, of which several conditions have been fulfilled. The remaining condition is that there is no breach of IGE's representations and warranties as set out in the Underwriting Agreement. Pursuant to the Underwriting Agreement IGE has represented and warranted that, in summary (as at the time of payment by the Underwriter for the shares); all information made public by IGE is correct and not misleading; there is no information which would (i) have a material adverse effect on the company or of IGE's ability to consummate the Rights Offer or

(ii) would require a public announcement (each a "MAE"); the financial statements of IGE give a true and fair view of the financial position as at the respective date; there has been no MAE since 31 December 2011 and there is no reasonably likelihood for a MAE occurring; IGE complies with applicable laws; and IGE has not stopped or suspended payments of its debts or become insolvent. It is expected that payment for Offer Shares will be made on 11 April 2012. Trading in Offer Shares on Oslo Børs is expected to commence on or about 24 April 2012. The Offer Shares will be delivered through the facilities of the VPS.

The Manager of the Rights Issue is VL Corporate AS. The Prospectus together with Subscription Form will be available at www.vlcorporate.no, on the company's website www.ige.se and free of charge at the business offices of IGE Resources AB (Publ) and VL Corporate AS.

For additional information, please contact:

Thomas Carlsson CFO and acting CEO, IGE Resources AB Tel: +46 8 402 28 05 / +46 70 552 26 22 E-mail: thomas.carlsson@ige.se

IGE Resources AB (publ) is a Scandinavian asset management and development company within natural resources. IGE's portfolio currently consists of diamond exploration and production assets in Southern Africa and Nickel Mountain Resources AB (publ) owning Scandinavia's largest nickel deposit. IGE is headquartered in Stockholm and its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.ige.se for more detailed information.