Shelton Petroleum AB: Agreement to dissolve the cross-ownership with Petrogrand
Shelton Petroleum and Petrogrand have entered into an agreement to dissolve the cross-ownership between the companies through a share swap. The exchange ratio is 0.40 shares in Shelton Petroleum for each share in Petrogrand. The agreement is subject to shareholder resolution at general meetings in both companies. Dissolving the cross-ownership …
Shelton Petroleum: Continues Year on Year Doubling of Production at Rustamovskoye
Shelton Petroleum’s total oil production in July 2014 amounted to 27,710 barrels, equivalent to 894 barrels per day. The table below summarizes the production broken down by oil field. Jul2014 Jul2013 Jan-Jul2014 Jan-Jul2013 Jan-Dec 2013 Jan-Dec 2012 Lelyaki 10,290 10,680 75,701 71,605 126,565 119,950 Rustamovskoye 17,420 …
Shelton Petroleum AB: Update on Convertible Bonds
The conversion period for the convertible bond 2013/2014 has expired. Holders of the entire outstanding amount of SEK 12.9 million have requested conversion to shares of series B. After such conversion, Shelton Petroleum has no interest-bearing debt. On 14 May 2014 Shelton Petroleum announced a repurchase of SEK 9.5 million …
Shelton Petroleum AB Proposes a Share Swap to Dissolve the Cross- Ownership with Petrogrand
Shelton Petroleum presents a proposal to the shareholders of Shelton Petroleum and Petrogrand to dissolve the cross-ownership between the companies. The proposal is put forward for resolution on general meetings in both companies in the end of June. The disputes and the strained relationship between the companies affect the companies …
Shelton Petroleum AB: Notice of Annual General Meeting of Shareholders
The shareholders of Shelton Petroleum AB (hereinafter the “Company”) are hereby given notice to attend the Annual General Meeting to be held at 10 AM on Tuesday, 20 May 2014 at Summit Grev Ture, Grev Turegatan 30 in Stockholm. Notification and right to participate The right to participate at the general meeting …
Petrogrand Extends the Acceptance Period in Cash Offer to Shelton’s Shareholders
Petrogrand AB announced on 21 March 2014 at 16:05 CET a public cash offer to the owners of shares, convertible bonds and warrants in Shelton Petroleum AB. In the press release issued on 4 April 2014, it was announced that the acceptance period for the Offer would be moved from …
Petrogrand: Continues to Rebuff Shelton Offer as Under Valued
The acceptance period of Shelton Petroleum’s AB offer to Petrogrand AB’s shareholders expired on 28 March 2014. Only 3.4 percent of the shareholders in Petrogrand chose to accept the Offer after the acceptance period was extended and the Offer was raised from 0.34 to 0.44 Shelton Petroleum B-shares for each …
Shelton Petroleum: Gets Swedish Securities Council To Rap Petrogrand’s Knuckles Over Offer
As previously announced, the Board of Directors of Shelton Petroleum will conduct a thorough analysis of Petrogrand’s public offer. In relation to this, the Board has requested that the Swedish Securities Council (Aktiemarknadsnämnden) reviews and comments on several aspects of the public offer. The Securities Council has in a statement …
Petrogrand: Withdraws Shelton Board Member Request and Waits for Annual Report
Petrogrand AB announced on 21 March 2014 at 16:05 CET a public cash offer to the owners of shares, convertible bonds and warrants in Shelton Petroleum AB. In the light of the recommendation by the Securities Council, as well as new information regarding the number of shares in Shelton Petroleum, …
Shelton Petroleum: Changes Voting and Share Total
In March 2014 the number of B shares in Shelton Petroleum AB changed. A total number of 4,422,841 B shares were issued to those shareholders of Petrogrand AB that accepted Shelton Petroleum’s public offer. Following the issue of shares, the total number of B shares amounts to 16,415,349. The total …