EQS-Adhoc 152 0 Kommentare 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

EQS-Ad-hoc: Petro Welt Technologies AG / Key word(s): Squeeze Out/AGM/EGM
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

16-Aug-2022 / 13:28 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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is valid, binding and not subject to challenge or judicial review, or any such challenge or judicial review has been withdrawn, rejected, or adjudicated in favor of the Company, and (b) the sale of the participations in Russia has been validly entered into, all necessary regulatory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 News transmitted by EQS Group AG. www.eqs.com

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:	1421631