Change in number of shares and votes in Shelton Petroleum
In June 2014 the number of shares of series B in Shelton Petroleum AB changed. 806,875 shares of series B were issued in relation to the conversion of all of the outstanding SEK 12,910,000 convertible bond 2013/2014. Following the issue of shares, the total number of shares of series B …
Shelton Petroleum and Petrogrand want to dissolve the cross-ownership
Shelton Petroleum and Petrogrand have today entered into an agreement that will facilitate for the companies to negotiate a breakup of the cross-ownership, which in turn will enable the companies to focus on the development of their operations and license portfolios. In accordance with the agreement, the parties will not …
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: Rustamovskoye Production Up 260% YOY
Shelton Petroleum’s total oil production in May 2014 amounted to 28,180 barrels, equivalent to 909 barrels per day. The table below summarizes the production broken down by oil field. May 2014 May 2013 Jan-May 2014 Jan-May 2013 Jan-Dec 2013 Jan-Dec 2012 Lelyaki 11,060 10,740 55,100 50,325 …
Shelton Petroleum AB: Independent Fairness Opinion on Shelton Petroleum’s Settlement Proposal
The Board of Directors of Shelton Petroleum has assigned Birger Jarl Fondkommission to provide a fairness opinion on the share swap to dissolve the cross-ownership with Petrogrand. The fairness opinion states that the proposal is fair from a financial point of view. Shelton Petroleum has presented a settlement proposal that …
Shelton Petroleum AB: Board of Directors Recommends Not to Accept Petrogrand’s Offer
On 21 March 2014 Petrogrand announced a public cash offer to acquire all shares of series A at a price of SEK 18.6 per share, all shares of series B at a price of SEK 18.6 per share, all convertible bonds of series 2013/2014 at a price of SEK 17.5 …
Petrogrand: Shelton Petroleum Rebuffs Share Swap Offer
The Board of Petrogrand believes that the ongoing dispute between Petrogrand and Shelton Petroleum is negatively affecting both companies and their shareholders and the Board of Petrogrand is continues to work hard to find a settlement between the companies. In an attempt towards resolving the dispute, Petrogrand sent on May …
Shelton Petroleum: Q1 Results – Margin Up, Production Up, Petrogrand Relationship Down
Shelton Petroleum continues to record strong profitability. The operating margin in the first quarter amounted to 29%, which is a significant improvement compared to 25% in the first quarter last year. The improved profitability is a direct effect of the increase in production by over 80% from 519 to 942 …
Shelton Petroleum AB: New date for Shelton Petroleum’s Annual General Meeting
The Annual General Meeting in Shelton Petroleum, previously scheduled for 20 May 2014, will be held on 30 June 2014. A notice for the meeting will be published shortly. As Petrogrand AB (publ) (“Petrogrand”) has initiated a matter with the Swedish Securities Council in relation to Shelton Petroleum AB’s (publ) …
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 …