Petrogrand’s Offer to Shareholders in Shelton Petroleum Made Public

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.