PETROGRAND AB: INFORMATION REGARDING PETROGRAND´S INCENTIVE PROGRAMME
(Thomson Reuters ONE) -
This is a translation of the Swedish version. In case of any discrepancy between
the English and Swedish versions, the Swedish version shall take precedence.
Incentive programme 2010/2013
The AGM in PetroGrand AB (publ) ("PetroGrand" or "the Company") decided on June
21, 2010, on an incentive programme through an issue of 211 000 000 subscription
warrants in two separate series, 130 000 000 of series A and 81 000 000 of
series B. The incentive programme is offered to existing and future employees,
senior executives and board members in the Company's company group. Each
subscription warrant entitles the holder to subscribe for one new share in the
Company.
The application period for PetroGrand´s incentive programme 2010/2013 with
regards to subscription warrants of series A was from June 23, 2010, to July
9, 2010. Approximately 87 percent of the offered subscription warrants of series
A were subscribed, corresponding to 113 000 000 subscription warrants. The
remaining approximately 13 percent, corresponding to 17 000 000 subscription
warrants, will be retained by the subsidiary PetroGrand Invest AB, and according
to instructions from the Company's Board during the time period up to and
including the AGM 2011 be offered to existing and future employees, senior
executives and board members in the Company's company group on the same terms
and conditions as for subscription warrants of series B.
Assuming that all subscription warrants will be utilized for subscription of new
shares, the share capital will increase by at the most 14 065 144,22 SEK,
corresponding to 211 000 000 shares each with a quota value of 0,0667 SEK. The
dilution effect on the full utilization all subscription warrants is
approximately 4.98 percent of the share capital and the votes in the Company.
For more information regarding the incentive programme please read the press
releases dated June 21, 2010, July 7, 2010, May 26, 2010, and May 20, 2010.
For further information, please contact:
Maks Grinfeld, MD, tel: +46 768 077 614
Sven-Erik Zachrisson, Chairman of the Board of Directors, tel: +46 8 41 05 45 96
Certified Adviser First North: Mangold Fondkommission
Reasonable caution notice: The statement and assumptions made in the company's
information regarding PetroGrand AB's ("PetroGrand") current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or "forward looking statements" concerning PetroGrand's future
activities. Such future estimations comprise but are not limited to statements
that include words such as "may occur", "concerning", "plans", "expects",
"estimates", "believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of PetroGrand's expectations and
assumptions made on the basis of information available at that time. These
statements and assumptions are subject to a large number of risks and
uncertainties. These, in their turn, comprise but are not limited to i) changes
in the financial, legal and political environment of the countries in which
PetroGrand conducts business, ii) changes in the available geological
information concerning the company's projects in operation, iii) PetroGrand's
capacity to continuously guarantee sufficient financing to perform their
activities as a "going concern", iv) the success of all participants in the
group, or of the various interested companies, joint ventures or secondary
alliances, v) changes in currency exchange rates, in particular those relating
to the RUR/USD rate. Due to the background of the many risks and uncertainties
that exist for any oil-prospecting venture and oil production company in its
initial stage, PetroGrand's actual future development may significantly deviate
from that indicated in the company's informative statements. PetroGrand assumes
no implicit liability to immediately update any such future evaluations.
[HUG#1437302]
Press Release PDF:
http://hugin.info/138739/R/1437302/382063.pdf
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All reproduction for further distribution is prohibited.
Source: Petrogrand AB via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2010 - 18:15 Uhr
Sprache: Deutsch
News-ID 39460
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contact information:
Town:
Stockholm
Kategorie:
Business News
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