Shareholders of Shelton Petroleum AB passed the following main resolutions at the annual general meeting held today.
The shareholders adopted the annual report for the financial year 2012 and resolved that dividend should not be paid for the financial year 2012. In addition, the board and the managing director were discharged from liability.
The shareholders resolved, in accordance with the nomination committee’s proposal, to re-elect Björn Lindström, Hans Berggren, Richard N. Edgar, Peter Geijerman, Freddie Linder, Zenon Potoczny and Katre Saard to the board of directors. The shareholders appointed Björn Lindström as chairman of the board.
The shareholders voted to re-elect the authorized public accounting firm Ernst & Young AB as auditors and the authorized public accountant Per Hedström as responsible auditor.
The shareholders adopted the board’s proposal on guidelines for compensation for senior executives with essentially the same content as the guidelines adopted at the 2012 annual general meeting.
The annual general meeting adopted principles for election of a nomination committee.
The annual general meeting also, in accordance with the board’s proposal, resolved to issue warrants and to authorize the board of directors, to decide on new issues of shares, warrants and/or convertible debentures, and that it thereupon be possible to derogate from the shareholders’ pre-emption rights.
The minutes of the annual general meeting will be made available on the company’s website, www.sheltonpetroleum.com.
For more information, please contact:
Robert Karlsson, CEO, Shelton Petroleum, tel +46 709 565141 robert.karlsson@sheltonpetroleum.com www.sheltonpetroleum.com
About Shelton Petroleum Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. In Russia, the company holds three licenses in the Volga-Urals area in Bashkiria and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.