THIS PRESS RELEASE MAY NOT, DIRECTLY OR INDIRECTLY, BE DISTRIBUTED OR PUBLISHED TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND OR SOUTH AFRICA. THE OFFER IS NOT GIVEN TO (AND ACCEPTANCES WILL NOT BE ADMITTED FROM) PERSONS IN THESE COUNTRIES OR PERSONS IN ANY OTHER COUNTRY WHERE AN ACCEPTANCE OF THE OFFER WOULD REQUIRE FURTHER DOCUMENTATION, REGISTRATION OR OTHER MEASURES IN ADDITION TO WHAT IS REQUIRED BY SWEDISH LAW.
Shelton Petroleum AB (“Shelton”) announced an offer on 22 January 2014 to acquire all outstanding shares in Petrogrand AB (“Petrogrand”), (the “Offer”). Shelton offers 0.30 shares of series B for each share in Petrogrand. In the new time table for the Offer, the acceptance period is brought forward by 10 days compared to the previously announced acceptance period.
Shelton Petroleum expects to publish the Offering document on 17 February 2014. The acceptance period for the Offer is scheduled from 18 February up to and including 10 March 2014.
Issue of settlement statements of the consideration to the shareholders who accept the Offer is estimated to start on 13 March 2014 (provided that Shelton no later than 12 March 2014 has announced that the conditions to the Offer have been met, or otherwise has published decision to complete the Offer). Shelton reserves the right to extend the acceptance period and to postpone the date for settlement statements of the consideration.
For more information, please contact:
Robert Karlsson, CEO Shelton Petroleum, +46709 565141
robert.karlsson@sheltonpetroleum.com
www.sheltonpetroleum.com
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 11.35 (CET) on 14 February 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.
IMPORTANT INFORMATION
THIS PRESS RELEASE MAY NOT, DIRECTLY OR INDIRECTLY, BE DISTRIBUTED OR PUBLISHED TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND OR SOUTH AFRICA. THE OFFER IS NOT GIVEN TO (AND ACCEPTANCES WILL NOT BE ADMITTED FROM) PERSONS IN THESE COUNTRIES OR PERSONS IN ANY OTHER COUNTRY WHERE AN ACCEPTANCE OF THE OFFER WOULD REQUIRE FURTHER DOCUMENTATION, REGISTRATION OR OTHER MEASURES IN ADDITION TO WHAT IS REQUIRED BY SWEDISH LAW.
This press release contains forward looking statements which in relation to the Offer means certain risks and uncertainties, including the expected advantages of the acquisition for Shelton and Shelton’s strategic and operational expectations. Actual events or results can due to a number of risks and uncertainties significantly differ from what has been described in this press release, including among other things that the Offer cannot be completed or that the completion is delayed and that the expected advantages of the Offer for Shelton cannot be realized.
All information in this press release has been submitted as of 14 February 2014, and Shelton has no intention, and does not undertake to, update the information.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.