Misen Energy AB (publ) secures long-term financing of the Swedish operation, sells 37.5 % of the shares in subsidiary Misen Enterprises AB

The Board of Misen Energy AB (publ) has of today approved the sale of 37.5 % of
the shares and shares capital in it’s subsidiary Misen Enterprises AB to the
Hong Kong based company Powerful United Limited (“PUL”). PUL is controlled
indirectly by Misen Energy AB (publ) shareholder TCT Holdings AB (holding less
than 10% of Misen Energy AB (publ) shares) that also has provided financing to
Misen Energy AB (publ) in the past. The purchase sum amounts to MSEK 165 and
will be paid by PUL by taking over Misen Energy AB (publ) existing debt plus
cash payment amounting to approximately MSEK 26. After the transaction is
completed Misen Energy AB (publ) will be debt-free and have financing for the
Swedish operation secured for the period of two years. As a consequence of the
deal, 37.5 % of the future dividends from operations in Ukraine will go
to PUL. Also, since Misen Energy AB (publ) will remain the owner of 62.5% of
Misen Enterprises AB shares, Misen Energy AB (publ) shall maintain full control
of the company. Misen Enterprises AB will be consolidated in the Misen Energy
group accounts as in the past but now with a minority share. The agreement
comprises conditions which allow Misen Energy AB (publ) to repurchase the sold
shares within a period of three years at a price of SEK 30 per share.

Misen Enterprises AB is the owner of 50.01 % of the Misen group’s operations in
Ukraine.
For further information, please contact:

Göran Wolff, MD

Direct line: +46 31 759 50 72
Mobile:       +46 709 45 48 48
E-mail:       goran@misenenergy.se (%67%6f%72%61%6e@%6d%69%73%65%6e%65%6e%65%72%
6 
7%79.%73%65)

 info@misenenergy.se (%69%6e%66%6f@%6d%69%73%65%6e%65%6e%65%72%67%79.%73%65)
Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish
upstream oil and gas company with operations in Ukraine. The company was founded
in 2004 and its shares are since 12 June 2007 traded on Nasdaq First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian
subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and
profit from a gas production project in Ukraine. Under IFRS rules, this
transaction is classified as a reverse takeover. In consideration of the
acquisition, a new share issue was carried out.
The gas producing assets have been acquired by production cooperation via a
joint activity project governed by a Joint Activity Agreement between the wholly
-owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen
Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya
(49.99%), the largest producer of natural gas in Ukraine and subsidiary of the
National Joint Stock Company Naftogaz of Ukraine. The value of the assets is
estimated to be substantially higher than the purchase price for Misen
Enterprises AB.
The purpose of the project is to significantly increase production of gas and
oil by providing modern technologies via a large-scale investment program.
The registered office of Misen Energy AB (publ) is in Stockholm and the shares
are traded on First North under identification ticker MISE.
The Certified Adviser of the company at Nasdaq First North is Consensus Asset
Management AB (formerly Thenberg & Kinde Fondkommission AB).
For further information, please visit our website www.misenenergy.se.