Shelton Petroleum AB: PR Tennis on Petrogrand Offer Continues

Shelton Petroleum AB publishes a supplement to the prospectus published on 17 February 2014 in connection with Shelton’s public offer to the shareholders of Petrogrand AB.  The supplement to the prospectus 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 Earlier submitted acceptance that is not withdrawn remains binding and shareholders who does not wish to withdraw their acceptance need not take any action.