Shelton Petroleum AB: Petrogrand Offer to be Reviewed
The board of Shelton Petroleum AB (publ) (”Shelton”) notes that Petrogrand AB (publ) (“Petrogrand”) on 21 March 2014 at 16.05 announced a public offer to the holders of shares, convertible loans and warrants in Shelton to sell all their shares, convertible loans and warrants in Shelton to Petrogrand for a …
Petrogrand Moves on Shelton Petroleum Shares
PetrograndAB hereby announces a public cash 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 …
Petrogrand AB: Calls for Shelton EGM – The Worm Turns
The Board of Petrogrand AB, as a shareholder with approximately 11,0 percent of the voting rights and approximately 12.3 percent of the capital in Shelton Petroleum AB, has decided to call for an Extraordinary General Meeting in Shelton. Petrogrand’s purpose with the request of Extraordinary General Meeting is for the …
Petroneft Board Still Resisting Shelton Petroleum’s Offer
The acceptance period of Shelton Petroleum AB to Petrogrand AB‘s shareholders expired on 12 March 2014. Only 12.4 % of the shareholders had at this point accepted the Offer. Shelton, who had stipulated in the Offer that at least 50 % of Petrogrand’s shareholders should accept the Offer, has nevertheless …
Shelton Petroleum: Ups Offer Significantly for Petrogrand and Becomes the Largest Shareholder
Shelton Petroleum completes the Offer and becomes the largest shareholder in Petrogrand. In order to make the offer attractive to even more shareholders we have increased and extended the Offer. We look forward to creating new value for the shareholders of both Shelton and Petrogrand, says Robert Karlsson, CEO of …
Petrogrand: Confirms New Board Recommends to Reject Shelton Petroleum’s Offer
On 22 January 2014, Shelton Petroleum AB made a public offer to acquire all outstanding shares in Petrogrand AB, offering 0,30 B shares in Shelton for each share in Petrogrand. On 24 February 2014 commented the Board of Petrogrand on Shelton’s offer and recommended Petrogrand’s shareholders not to accept the …
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 Petroleum AB: Comments on Petrogrand’s Fairness Opinon
Shelton Petroleum comments on Petrogrand’s fairness opinion. The valuation is based on information that contradicts Petrogrand’s previous assessment of Shelton Petroleum’s reserve base. On 22 January 2014, Shelton Petroleum announced a public offer to the shareholders of Petrogrand. Based on a fairness opinion from an investment bank, the board of …
Petrogrand: No Operating Income in 2013
Fourth quarter of 2013 • During the 4th quarter, the Petrogrand Group had no operating income (-). The operating result for the 4th quarter amounted to TSEK -9 303 (-59 226). • Net financial items in the 4th quarter amounted to TSEK 592 (8 606), including the change in real …
Shelton Petroleum AB: Maks Grinfeld and Mats Jansson Resign Board Due to Potential Conflict of Interests
On 22 January 2014 Shelton Petroleum AB announced an offer to acquire all the outstanding shares in Petrogrand AB. Maks Grinfeld and Mats Jansson are board members of both Shelton Petroleum and Petrogrand. Maks Grinfeld is also the CEO of Petrogrand. Due to the potential conflict of interest that may …