EQS-News 125 0 Kommentare Petro Welt Technologies AG: Payment of cash compensation

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Cash compensation of EUR 2.234327 per share paid to former minority shareholders.
Cash settlement claims derecognized, one claim for subsequent increase recognized.
Petro Welt Technologies AG now operates exclusively in Kazakhstan.

EQS-News: Petro Welt Technologies AG / Key word(s): Squeeze Out
Petro Welt Technologies AG: Payment of cash compensation

11.10.2023 / 20:13 CET/CEST
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Vienna, October 11, 2023

The cash compensation in the amount of EUR 2.234327 per share of Petro Welt Technologies AG was paid out to the former minority shareholders on October 9, 2023 in accordance with the legal requirements. The amount of the cash compensation consists of the cash compensation of EUR 2.20 resolved at the Annual General Meeting held on June 27, 2023 and the statutory interest until the due date in the amount of EUR 0.034327. The payment of the cash compensation was made automatically.

Furthermore, on October 9, 2023, the cash settlement claims, ISIN AT0000A35J35, of the former minority shareholders were derecognized and in the event of a judicial review of the cash compensation one claim for subsequent increase of the cash compensation, ISIN AT0000A35J43, was recognized for each cash settlement claim. If the former minority shareholders are awarded a higher cash compensation in the course of the judicial review, the amount of increase will also be automatically paid out to the former minority shareholders against derecognition of the claims for subsequent increase of the cash compensation.

About Petro Welt Technologies AG

Petro Welt Technologies AG, a company domiciled in Vienna, Austria, had been one of the leading and oldest oilfield services (OFS) companies in Russia and the CIS specializing in services that increase the productivity of both new and existing oil & gas formations. Against the backdrop of the sanctions against Russia, the company has sold all its subsidiaries in this market and now operates exclusively in Kazakhstan.

Contact

Konstantin Huber (Male Huber Friends GmbH)

Investor Relations

T: +43 699 1172 68 14

huber@mhfriends.at

11.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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1746879 11.10.2023 CET/CEST

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The Petro Welt Technologies Stock at the time of publication of the news with a raise of +1,80 % to 2,22EUR on Tradegate stock exchange (03. August 2023, 22:26 Uhr).