EQS-Ad-hoc: Petro Welt Technologies AG / Key word(s): Squeeze Out/AGM/EGM
Petro Welt Technologies AG: Majority shareholder Joma requests to exclude
the minority shareholders according to Section 1 (1) of the Austrian
Squeeze-Out Act (Gesellschafter-Ausschlussgesetz)

07-Sep-2022 / 13:12 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.

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AD-HOC ANNOUNCEMENT

 

Petro Welt Technologies AG – Majority shareholder Joma requests to exclude
the minority shareholders according to Section 1 (1) of the Austrian
Squeeze-Out Act (Gesellschafter-Ausschlussgesetz)

 

Vienna, September 7, 2022

Joma Industrial Source Corp. (“Joma”) has today sent a letter to the
Management Board of Petro Welt Technologies AG (“PeWeTe”) requesting to
initiate the process of squeezing-out the minority shareholders pursuant
to Section 1 (1) of the Austrian Squeeze-Out Act, to prepare all necessary
reports and documents and to call an extraordinary general meeting of
PeWeTe.

 

The subject of the extraordinary general meeting shall be the resolution
on the exclusion of the minority shareholders pursuant to Section 1 (1) of
the Austrian Squeeze-out Act and transfer of all shares not held by Joma
or its indirect subsidiary Petro Welt Holding Limited to Joma against
payment of adequate cash compensation pursuant to Section 2 of the
Austrian Squeeze-Out Act.

 

The cash compensation price is EUR 2.20 per share including dividend
entitlements. The cash compensation was determined by Joma on the basis of
a group valuation carried out by Grant Thornton Austria GmbH
Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, which was calculated
as if the recent sale of the subsidiaries in Russia had not taken place.

 

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

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07-Sep-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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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: 1437343

 
End of Announcement EQS News Service

1437343  07-Sep-2022 CET/CEST



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