The board of Shelton Petroleum AB (publ) (”Shelton”) notes that Petrogrand AB (publ) (“Petrogrand”) on 21 March 2014 at 16.05 announced a public offer to the holders of shares, convertible loans and warrants in Shelton to sell all their shares, convertible loans and warrants in Shelton to Petrogrand for a cash consideration of SEK 18.60 per share of series A and B, SEK 17.50 plus accrued interest per convertible loan of series 2013/2014 and SEK 3.00 per warrant.
The board of Shelton will conduct a thorough analysis of the public offer and thereafter publish its opinion on it. The board recommends all shareholders, holders of convertible loans and warrants not to make any final decision until all information has been made available.
Stockholm 24 March 2014
Shelton Petroleum AB (publ)
The Board of Directors
For more information, please contact:
Robert Karlsson, CEO Shelton Petroleum, +46709 565141
The information provided herein is such that Shelton Petroleum AB is obligated to disclose it pursuant to the Securities Markets Act (2007:528) and the takeover-rules. The information was submitted for publication at 08:30 (CET) on 24 March 2014.
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 symbol SHEL B.