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Shelton Petroleum AB: distribution of the Ukrainian operations

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Oilfield Technology,



As part of the transaction between Shelton Petroleum and Petrogrand, Shelton Petroleum has distributed 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% ownership in Kashtan Petroleum, license holder and operator of the Lelyaki oil field. Zhoda has net 2P reserves of approximately 8 million bbls and a daily production of over 300 bpd.

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.

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.

Adapted from a press release by Louise Mulhall

Read the article online at: https://www.oilfieldtechnology.com/product-news/11122015/shelton-petroleum-ab-distribution-of-the-ukrainian-operations/

 

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