Shelton publishes a supplement to prospectus in connection with Shelton’s public offer to the shareholders of Petrogrand

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 (publ) (”Shelton”) publishes a supplement to the
prospectus published on 17 February 2014 (the “Prospectus”) in connection with
Shelton’s public offer (“the Offer”) to the shareholders of Petrogrand AB
(publ) (“Petrogrand”).  The supplement to the prospectus (“the Supplement”) has
been approved and registered by the Swedish Financial Supervisory Authority.


The Supplement has been prepared in connection with:

  • Shelton's announcement on 26 February 2014 to increase in the consideration
    in the Offer from 0.30 to 0.34 Shelton B shares for each share in
    Petrogrand and to extend the acceptance period up to and including 12 March
    2014.
  • Shelton's announcement on 27 February 2014 that Maks Grinfeld and Mats
    Jansson resign from the Board of Shelton.

  • Shelton’s announcement on 4 March 2014 regarding Shelton’s comment on the
    fairness opinion published by Petrogrand.
  • Comments to the recent developments in Ukraine as it relates to Shelton’s
    operations.

 

The Supplement can be downloaded in electronic form from Shelton's website
www.sheltonpetroleum.com and from Pareto Securities AB’s ("Pareto Securities”)
website www.paretosec.com. A printed version of the Supplement can be obtained
at Shelton’s and Pareto Securities’ offices. The Supplement should be read
together with and form an integral part of the Prospectus in all respects.

Shareholders who have accepted the Offer prior to the publication of the
Supplement have, under the rules of the Swedish Corporate Governance Board
concerning takeover bids for shares in Swedish companies whose shares are
traded on certain trading platforms (the “takeover-rules”), the right to
withdraw earlier submitted acceptance within five working days from the
publication of the Supplement. In all other respects the right to withdraw
earlier submitted acceptance of the Offer is in accordance with what is set out
in the Prospectus. Withdrawal of earlier submitted acceptance should be made in
accordance with the instructions set out in the Prospectus. Shareholders whose
shares are registered with a nominee and who wish to withdraw earlier submitted
acceptance of the Offer should do this in accordance with instructions from the
nominee. Earlier submitted acceptance that is not withdrawn remains binding and
shareholders who does not wish to withdraw their acceptance need not take any
action.

 

Stockholm 5 March 2014

Shelton Petroleum AB (publ)

The Board of Directors

 

For more information, please contact:

Robert Karlsson, CEO Shelton Petroleum, +46 709 565 141
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 16:30 (CET) on
5 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.

IMPORTANT INFORMATION

THIS PRESS RELEASE MAY NOT, DIRECTLY OR INDIRECTLY, BE DISTRIBUTED OR PUBLISHED
TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, HONGKONG, 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 5 March 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.