Axactor SE

Share Issue/Capital Change • Apr 19, 2011

19 April, 2011

IGE: Equity issues resolved by EGM

IGE Resources AB (OSE: IGE) today announced that an Extraordinary General Meeting of the Company on 19 April 2011 decided to carry out a share issue with preferential rights for the Company's shareholders, as well as an oversubscription issue. If fully used, the two share issues will raise up to NOK 54.2 million.

The EGM resolved to carry out a share issue with preferential rights for the Company's shareholders raising gross proceeds of NOK 36.1 million The rights issue is 100 % guaranteed by an external consortium of investors, who will be able to subscribe for new shares that are not subscribed for by IGE's shareholders. The Company will issue 1,805,618,810 new shares, representing 50 per cent of outstanding IGE shares after completion of the transaction. The new shares will be offered at a subscription price of NOK 0.02 per share. IGE shareholders will receive one subscription right for each 10 shares held on 27 April 2011. Each subscription right entitles the subscription of 10 new IGE shares. The subscription period is 16 -30 May 2011. Subscription can also be carried out without the exercise of subscription rights.

The EGM also resolved, subject to the rights issue will being over-subscribed, to carry out a so called oversubscription issue encompassing up to 902,809,405 new shares directed towards participants in the rights issue who have not been allocated all subscribed shares. The subscription price per share is NOK 0.02 providing up to NOK 18.1 million in additional proceeds. The subscription period is identical to the rights issue and allocation of new shares will be made in accordance with the allocation rules of the rights issue.

The total amount of new shares, provided both issues are fully subscribed, will represent approximately 60 per cent of outstanding shares following the transactions.

Detailed terms of the rights issue and the oversubscription issue will be described in a prospectus which will be prepared in accordance with chapter 7 of the Norwegian Securities Trading Act.

The time schedule for the rights issue is as follows:

• 19 April 2011: Last day of trading in the shares including preferential right to participate in the rights issue
• 20 April 2011: First day of trading in the shares excluding preferential rights to participate in the rights issue
• 27 April 2011: Record date for participation in the rights issue
• 16 25 May 2011: Trading in subscription rights
• 16 30 May 2011: Subscription period
• 1 June 2011: Announcement of preliminary outcome of the rights issue

The EGM also resolved to amend IGE's Articles of Association, adapting the minimum and maximum levels of the share capital and number of shares stated in order to reflect also the new shares issued.

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 company mainly focusing on diamonds exploration and production in Southern Africa. IGE's portfolio also includes one of Northern Europe's largest nickel deposits and gold exploration projects in Kenya. 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.