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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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PetroGrand once again recommends shareholders not to accept Shelton Petroleum's bid for Petrogrand

Friday, 4 Apr 2014 09:27am EDT 

PetroGrand AB:Once again recommends shareholders not to accept the offer made by Shelton Petroleum to Petrogrand’s shareholders.Believes that the conditions for Shelton Petroleum's offer has not improved.Adds that share price of Shelton Petroleum has fallen since the announcement of the offer.Says on April 2 the closing price was 18.30 Swedish crowns per Shelton Petroleums-B share, while the closing price in Petrogrand on the same date was 8.90 crowns.Says the offer of 0.44 Shelton Petroleum B shares for each share in Petrogrand values the share of Petrogrand to about 8.05 crowns, which corresponds a discount of about 9.5 percent compared to the closing price of 8.90 crowns on April 2. 

Company Quote

0.05 +1.04%
26 Feb 2015