TRICORONA AB

TRICORONA AB

Previous company name
TRICORONA MINERAL AB
Name change date
6/16/2004
Company Overview
Tricorona AB, formerly known as Tricorona Mineral AB, is a Swedish company that specializes in raw materials supply and related services to metallurgical and other industries. The company has its head office based in Stockholm, Sweden. Tricorona was established in August 1981 as Wermlands Guldbrytning. The company has been listed on the Stockholm Stock Exchange O-list since 1989. At the beginning of 2002 a new strategic direction for Tricorona was established entailing reduced efforts to exploit industrial mineral deposits, and acquisitions of supplementary businesses with the objective of rapidly achieving a positive cashflow. Tricorona’s operations are organized in two business divisions: Metal Division and Minerals Division.
The Metal division comprises a number of companies focusing on the supply and trade of raw materials and related services. The division includes the following companies: M. V. Metallvдrden AB, which trades in secondary metals and provides allied services; Svenska Metall Bцrsen AB, which offers brokerage of forward and options contracts regarding various raw materials as well as consultant and information services to raw materials companies in Northern Europe; and the Svensk Kraftmдkling AB, which serves as a broker of electric power, electricity certificates and emission rights.
The Minerals Division is consists of Tricorona’s remaining industry mineral operations and the associated company St1 Sweden AB. The said division includes the following companies: Woxna Graphite AB, which conducts research and development, in collaboration with Timcal Graphite & Carbon Ltd, on highly pure graphite at the Kringelgruvan mine in the Hдlsingland region; Aros Mineral AB, which holds an exploitation concession of a wollastonite deposit in the county of Vдstmanland; Svenska Vanadin AB, which holds an exploitation concession of an iron-vanadium occurrence in the Hдlsingland region; ane the St1 Sweden AB, a development company whose business concept is to establish a chain of automatic discount petrol stations built as flexible modules, “surface plants.
Business Summary
Tricorona AB is focused on environmentally related market instruments, mainly through investments in and the trading of project-linked instruments, known as certified emission reductions (CER), within the framework of the Kyoto Protocol. The Company’s business is carried out by three divisions. The Emissions trading division develops and deals with projects that generate emissions allowances. It consists of two sectors, Emissions trading and Carbon offsetting. The Brokerage division’s operations are conducted through Svensk Kraftmakling, a broker of electricity, electricity certificates and certificates of origin in the deregulated Nordic power market. The Other operations division consists of a number of industrial mineral deposits.
Description and history
HISTORY

Tricorona has a relatively long history as a quoted company. The company was established in 1988 and was quoted on the Stockholm Stock Exchange’s O-list as early as 1989 under the name Wermlands Guldbrytning. At that time, the company’s operations were targeted at exploration and the exploitation of gold deposits. The mining of a small gold deposit in the Dalsland region of Sweden was launched at the beginning of the 1990s and continued for almost a year.

From 1993, the operation came to focus on the exploitation of industrial minerals. In 1996, the subsidiary company Woxna Graphite commenced the mining and dressing of graphite ore in the Kringelgruvan mine in Hдlsingland Province. Profitability could not be achieved due to the depressed prices on the world market, and in 2002 operations in the mine were discontinued until further notice.

In order to provide Tricorona’s shareholders with a dividend during the period that the rest of the operation was being built up, two metal exploration projects – Svenska Koppar (now Netrevelation) and Riddarhyttan Resources – were transferred to separate companies in 1996 and 1997 respectively, which were then quoted.

During 2003, it was decided that Tricorona should be restructured. The companies M.V. Metallvдrden, Svenska Metall Bцrsen (SMB) and SKM were acquired. During 2005 Tricorona acquired ANA Дdelmetall, a leading company within recovery of scrap precious metal. The company’s operations were also divided up into three divisions in 2005: Metals, Commodity Services and Minerals.

During the spring of 2006, the company implemented a major targeted and preferential share issue for a total of MSEK 241, before deductions for issue-related costs. The share issues were fully subscribed. These share issues were conducted with the aim of financing the venture regarding investments and trading in project-related emissions credits.

Later in 2006 the company decided to focus it’s business to invest in and tradeenviromentally related market instruments. That also meant that the Metals and Mineral divisions was considered non-strategic. Two new divisions was formed, Brokerage and Emissions Trading.

1989 The company was quoted on the Stockholm Stock Exchange’s O-list under the name Wermlands Guldbrytning.
1993 New focus on the exploitation of industrial minerals.
1996 Mining and dressing of graphite ore was launched at the Kringelgruvan mine in Hдlsingland.
1997 The metal exploration projects Svenska Koppar and Riddarhyttan Resources were transferred to separate companies.
2003 Acquisition of M.V. Metallvдrden, SMB and SKM.
2005 The operation was divided into three divisions.
2006 A preferential and targeted emission was conducted with the aim of financing the venture regarding investments and trading in project-related carbon credits.
2008 the company stated a record high profit after tax of MSEK 195 after delivery of 3.7 million CERs from it’s portfolio

Takeover by Barclays PLC (GB24158)
The Company acquired by TAV AB, a wholly owned subsidiary of Barclays PLC and delisted on the NASDAQ OMX Stockholm with effect from 23 August 2010.

Established in August 1981 as Wermlands Guldbrytning

Business Line
Specializes in raw materials supply and related services to metallurgical and other industries
Subsidiary
AROS MINERAL AB
Advisor
ERNST & YOUNG AB
IPO date

US SIC Code
1499
Company Address
Box 70426
Kungsgatan 32
City province or state postal code
107 25, STOCKHOLM
Phone: +46 8 506 885 00
Fax: +46 8 34 60 80
Country address: SWEDEN
Website url: www.tricorona.se