As part of the transaction between Shelton Petroleum and Petrogrand,
Shelton Petroleum today distributes its Ukrainian operations to its
shareholders in the form of a dividend. Zhoda Petroleum Ukraine AB
(“Zhoda”) is the Swedish parent company in the group that has been
distributed. Pareto Securities has set up an OTC trading facility for
the unlisted Zhoda share.
Zhoda’s producing oil asset
Zhoda’s main asset is a 45 per cent ownership in Kashtan Petroleum,
license holder and operator of the Lelyaki oil field. Zhoda has net 2P
reserves of approximately 8 million barrels of oil and a daily
production of over 300 barrels per day.
The board of directors of Zhoda consists of Björn Lindström (chairman),
Peter Geijerman, Zenon Potoczny, Katre Saard and Dmitry Zubatyuk. Robert
Karlsson (CEO) and Zenon Potoczny (President) will make up the company’s
management.
Share structure
Zhoda Petroleum Ukraine AB is the Swedish parent company in the group
that has been distributed. The number of outstanding shares amounts to
761,900 of series A (ISIN SE0007789516) and 17 899 347 of series B (ISIN
SE0007789524), which gives a total amount of 18,661,247 shares.
Shareholders received one share in Zhoda for every share of the
corresponding series in Shelton Petroleum.
Trade in the Zhoda share
Pareto Securities has set up an OTC trading facility for the unlisted
Zhoda share. Share price information is available on www.paretosec.com
under the section Equity. Private individuals and companies that wish to
trade are asked to contact their bank or broker in order to place an
order. The bank or broker then contacts Joakim Appeltofft at Pareto
Securities AB, (+46 40 750 22, joakim.appeltofft@paretosec.com).
Zhoda is conducting a dialogue with the Swedish Tax Authorities in order
to establish the tax value of the dividend.
More information on Zhoda, including a company presentation in pdf, is
available on www.sheltonpetroleum.com. Zhoda will publish its own
website and keep the markets informed of the company’s development.
For more information, please contact:
Robert Karlsson, CEO, tel +46 709 565 141
robert.karlsson@sheltonpetroleum.com
www.sheltonpetroleum.com
About Shelton Petroleum
Shelton Petroleum is a Swedish company focused on exploring and
developing concessions in Russia. Shelton Petroleum’s Ukrainian
operations have been distributed to its shareholders. The company holds
licenses in the Volga-Urals area in Bashkiria and has commenced
production on the Rustamovskoye field after a successful exploration
program. Shelton Petroleum’s oil and gas 2P reserves amount to 27
million barrels. The company’s share is traded on Nasdaq Stockholm under
the symbol SHEL B.
The information provided herein is such that Shelton Petroleum AB is
obligated to disclose it pursuant to the Securities Markets Act and/or
the Financial Instruments Trading Act. The information was submitted for
publication at 8:30 CET on 11 December 2015.
THIS PRESS RELEASE CONSTITUTES A GENERAL COMPANY PRESENTATION.
ACCORDINGLY, THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR
INVITATION TO PURCHASE OR SUBSCRIBE FOR ANY SECURITIES OR ANY FORM OF
COMMITMENT OR RECOMMENDATION ON THE PART OF THE COMPANY.
This is an English translation of the Swedish original. In case of
discrepancies, the Swedish original shall prevail.
