The AGM in PetroGrand AB (publ) ("PetroGrand" or "the Company") decided on June
21, 2010, in accordance with the Board´s proposal, to carry out a consolidation
of the Company´s shares 1:100, so that one hundred (100) shares will be
consolidated into one (1) share. Furthermore, the Board was authorized to
stipulate the record date for the consolidation of shares. Today, the Board has
decided that the record date will be on August 20, 2010.
Important dates
* Record date for consolidation of shares is Friday, August 20, 2010
* Last day of trading with the Company´s shares before the consolidation is
Tuesday, August 17, 2010
* First day of trading the consolidated shares is Wednesday, August 18, 2010
For further information, please contact:
Maks Grinfeld, MD, tel: +46 768 077 614
Sven-Erik Zachrisson, Chairman of the Board of Directors, tel: +46 8 41 05 45 96
Certified Adviser First North: HQ Bank (from July 1, Mangold Fondkommission)
Reasonable caution notice: The statement and assumptions made in the company's
information regarding PetroGrand AB's ("PetroGrand") current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or "forward looking statements" concerning PetroGrand's future
activities. Such future estimations comprise but are not limited to statements
that include words such as "may occur", "concerning", "plans", "expects",
"estimates", "believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of PetroGrand's expectations and
assumptions made on the basis of information available at that time. These
statements and assumptions are subject to a large number of risks and
uncertainties.
These, in their turn, comprise but are not limited to i) changes in the
financial, legal and political environment of the countries in which PetroGrand
conducts business, ii) changes in the available geological information
concerning the company's projects in operation, iii) PetroGrand's capacity to
continuously guarantee sufficient financing to perform their activities as a
"going concern", iv) the success of all participants in the group, or of the
various interested companies, joint ventures or secondary alliances, v) changes
in currency exchange rates, in particular those relating to the RUR/USD rate.
Due to the background of the many risks and uncertainties that exist for any
oil-prospecting venture and oil production company in its initial stage,
PetroGrand's actual future development may significantly deviate from that
indicated in the company's informative statements. PetroGrand assumes no
implicit liability to immediately update any such future evaluations.
[HUG#1436945]
