MALKA OIL: CLARIFICATION
(Thomson Reuters ONE) - As previously announced in a press release dated June 11, 2009 MalkaOil have entered into an agreement with the Russian investment bankRenaissance Capital as financial adviser to review the company'sstrategic opportunities.As part of this agreement the company has investigated thepossibility of acquiring other companies, new licenses, or carryingout a new share issue for the expansion of the company, or as analternative divest its subsidiary LLC STS-Service ("Subsidiary").Renaissance has for some time provided a data room of the Subsidiaryto which a number of reputable companies in the market have beengranted access.Several companies have expressed an interest regarding an acquisitionof the Subsidiary and Malka Oil is now involved in discussions withsome of these interested parties but so far these discussions havenot led to any concrete results. With regard to the informationcirculating in the media, the Board of directors has after carefulexamination of a letter received by the Board of directors on 16October, 2009, come to the conclusion that, based on the informationavailable, as of today there is no substance behind the offer or thelevels implied by it.The review of the company's strategic opportunities is thus stillongoing.For further information, please contact:Maks Grinfeld, MD, tel: +46 768 077 614Sven-Erik Zachrisson, Chairman of the Board of Directors, tel: +46 841 05 45 96For further information on Malka Oil AB, see the websitewww.malkaoil.comReasonable caution notice: The statement and assumptions made in thecompany's information regarding Malka Oil AB's ("Malka") currentplans, prognoses, strategies, concepts and other statements that arenot historical facts are estimations or "forward looking statements"concerning Malka's future activities. Such future estimationscomprise 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 Malka's expectations andassumptions made on the basis of information available at that time.These statements and assumptions are subject to a large number ofrisks and uncertainties. These, in their turn, comprise but are notlimited to i) changes in the financial, legal and politicalenvironment of the countries in which Malka conducts business, ii)changes in the available geological information concerning thecompany's projects in operation, iii) Malka's capacity tocontinuously guarantee sufficient financing to perform theiractivities as a "going concern", iv) the success of all participantsin the group, or of the various interested companies, joint venturesor secondary alliances, v) changes in currency exchange rates, inparticular those relating to the RUR/USD rate. Due to the backgroundof the many risks and uncertainties that exist for anyoil-prospecting venture and oil production company in its initialstage, Malka's actual future development may significantly deviatefrom that indicated in the company's informative statements. Malkaassumes no implicit liability to immediately update any such futureevaluations.http://hugin.info/138739/R/1356597/329660.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 23.11.2009 - 12:06 Uhr
Sprache: Deutsch
News-ID 8734
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