Petro Welt Technologies AG: Joma announces cash settlement price in case of squeeze-out pursuant to Section 1 (1) of the Austrian Squeeze-out Act
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DGAP-Ad-hoc: Petro Welt Technologies AG / Key word(s): Squeeze Out/AGM/EGM AD-HOC ANNOUNCEMENT
Petro Welt Technologies AG – Joma announces cash settlement price in case of squeeze-out pursuant to Section 1 (1) of the Austrian Squeeze-out Act
Vienna, August 16, 2022 Petro Welt Technologies AG (“PeWeTe”) announced on July 26, 2022 that Joma Industrial Source Corp. (“Joma”) intends to submit a written request for squeeze-out pursuant to Section 1 (1) of the Austrian Squeeze-out Act (Gesellschafter-Ausschlussgesetz, GesAusG), provided that (a) the extraordinary general meeting of PeWeTe on August 16, 2022 resolves to approve the sale of the participations in Russia in a way that is valid, binding and not subject to challenge or judicial review, or any such challenge or judicial review has been withdrawn, rejected, or adjudicated in favor of the Company, and (b) the sale of the participations in Russia has been validly entered into, all necessary regulatory approvals have been granted, and it has been closed.
In addition to this announcement, Joma has today informed the Management Board of PeWeTe that the amount of the cash settlement price offered by Joma in the event of such squeeze-out would be EUR 2.20 per share. The share price has been calculated as if the sale had been completed. The share price was calculated as if the sale of the participations in Russia had not been carried out.
The initiation of the squeeze-out procedure further requires that Joma submits a formal, written request for squeeze-out pursuant to Section 1 (1) GesAusG.
About Petro Welt Technologies AG Petro Welt Technologies AG, headquartered in Vienna, is one of the leading, early established OFS companies in Russia and the CIS, specializing in services to increase the productivity of new and existing oil and gas formations.
Inquiries Konstantin Huber (Male Huber Friends GmbH) Investor Relations T: +43 699 1172 68 14 huber@mhfriends.at
16-Aug-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Petro Welt Technologies AG |
| Kärntner Ring 11-13 | |
| 1010 Vienna | |
| Austria | |
| Phone: | +43 1 535 23 20-0 |
| Fax: | +43 1 535 23 20-20 |
| E-mail: | ir@pewete.com |
| Internet: | www.pewete.com |
| ISIN: | AT0000A00Y78 |
| WKN: | A0JKWU |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1421625 |
| End of Announcement | DGAP News Service |
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1421625 16-Aug-2022 CET/CEST
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