Shelton Petroleum AB: Comment to Petrogrand’s request to convert Convertible 2
Petrogrand AB has requested the conversion of Convertible Debenture 2 of 185,249,280 SEK to 9,262,464 new B-shares in Shelton Petroleum. Since the conditions agreed by the parties in July 2013 have not been fulfilled, Petrogrand’s request for conversion is a breach of contract. As both Shelton Petroleum and Petrogrand have …