Petrogrand’s offer document to shareholders in Shelton Petroleum made public

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| Source: Petrogrand AB
multilang-release

Stockholm, 2014-04-17 14:47 CEST (GLOBE NEWSWIRE) --  

The Offer

On 21 March Petrogrand announced a public offer to acquire all shares of series-A ("A-share") at a price of SEK 18.6 in cash per share, all shares of series-B ("B-share") at a price of SEK 18.6 in cash per share (jointly referred to as the "Shares"), all convertible bonds of series 2013/2014 at a price of SEK 17.5, and accrued interest, per convertible bond (the "Bonds") and all warrants at a price of SEK 3 per warrant (the "Warrants") in Shelton Petroleum AB (publ) ("Shelton") (the "Offer").

Offer document

The offer document relating the Offter has been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) on 17 April 2014. The Offer document has been made public today and is available on Petrogrands website www.petrogrand.se and on Mangold Fondkommission’s website www.mangold.se. The acceptance form related to the Offer can be found on the first two of these websites. Pre-printed acceptance form will be mailed to all direct-registered shareholders of Shelton as of 17 April 2014.

Acceptance period and settlement

The acceptance period of the Offer starts on 22 April 2014 and ends on 1 July 2014. Settlement is expected to commence on about 10 July 2014.

 

This is a translation of the Swedish version. In case of any discrepancy between the English and the Swedish version, the Swedish version shall take precedence.

 

For further information, please contact:

Maks Grinfeld, CEO, phone: +46 8 5000 7810
Mikael Wallgren, Chairman, phone: +46 8 5000 7810
Certified Adviser First North: Mangold Fondkommission AB

 

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 RUB/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.