Changes in the Board of Directors of Misen Energy AB (publ)
Henry Cameron has decided to resign as a member of the board of Misen Energy AB. As of 1st January this year Henry and his family acquired a controlling interest in a system design and installation company in heat pump technology which has placed heavy demands on his time.
In this situation he has come to the conclusion that he would not have sufficient time to allocate to Misen Energy.
Mr. Tore I. Sandvold – as the chairman of the board - will thank Henry for his invaluable participation and support to the board. His deep and broad experience and knowledge and wise reflections has been a very important contribution.
He is followed by the best wishes for success in the times to come.
Henry Cameron´s position in the Board will be vacant till the Annual General Meeting in May.
For further information please contact:
Göran Wolff, CEO
tel + 46 31 759 50 72
mobile + 46 709 45 48 48
Misen Energy AB (former Svenska Capital Oil AB) is a Swedish oil and gas exploration and extraction company with operations in Ukraine. The company was founded in 2004 and the share is since 12 June 2007 traded on NasdaqOMX First North.
In 2011 Misen Energy AB acquired Misen Enterprises AB and its Ukrainian subsidiary, KarpatyGaz, including the rights of 50,01 % of the revenue and profit from a gas production project in Ukraine, which will provide the company with essential gas and oil assets. As consideration of this acquisition a new share issue was performed.
The gas extraction assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement (the "JAA") between the wholly owned subsidiaries of Misen Energy AB, i.e., Misen Enterprises AB and Karpatygaz and Ukrgazvydobuvannya, the largest producer of natural gas in Ukraine and subsidiary of the publicly owned company Naftogaz Ukraine. The value of the assets has been assessed by PwC in Ukraine and is estimated to be significantly more than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by implementing new technology and a large-scale investment program.
The registered office of Misen Energy AB( former Svenska Capital Oil AB) is in Stockholm and the shares are traded on First North under identification MISE. The Certified Adviser of the company at NasdaqOMX First North is Thenberg & Kinde Fondkommision AB.
For further information please visit our web site www.misenenergy.se.