Misen Energy AB (publ) secures long-term financing of the Swedish operation, sells 37.5 % of the shares in subsidiary Misen Enterprises AB

The Board of Misen Energy AB (publ) has of today approved the sale of 37.5 % of the shares and shares capital in it’s subsidiary Misen Enterprises AB to the Hong Kong based company Powerful United Limited (“PUL”). PUL is controlled indirectly by Misen Energy AB (publ) shareholder TCT Holdings AB (holding less than 10% of Misen Energy AB (publ) shares) that also has provided financing to Misen Energy AB (publ) in the past. The purchase sum amounts to MSEK 165 and will be paid by PUL by taking over Misen Energy AB (publ) existing debt plus cash payment amounting to approximately MSEK 26. After the transaction is completed Misen Energy AB (publ) will be debt-free and have financing for the Swedish operation secured for the period of two years. As a consequence of the deal, 37.5 % of the future dividends from operations in Ukraine will go to PUL. Also, since Misen Energy AB (publ) will remain the owner of 62.5% of Misen Enterprises AB shares, Misen Energy AB (publ) shall maintain full control of the company. Misen Enterprises AB will be consolidated in the Misen Energy group accounts as in the past but now with a minority share. The agreement comprises conditions which allow Misen Energy AB (publ) to repurchase the sold shares within a period of three years at a price of SEK 30 per share.

Misen Enterprises AB is the owner of 50.01 % of the Misen group’s operations in Ukraine.

For further information, please contact:

Göran Wolff, MD

Direct line: +46 31 759 50 72
Mobile:       +46 709 45 48 48
E-mail:        goran@misenenergy.se
                  info@misenenergy.se

Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on Nasdaq First North.
In 2011, Misen Energy AB (publ) acquired Misen Enterprises AB and its Ukrainian subsidiary, LLC Karpatygaz, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine. Under IFRS rules, this transaction is classified as a reverse takeover. In consideration of the acquisition, a new share issue was carried out.
The gas producing assets have been acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement between the wholly-owned direct and indirect subsidiaries of Misen Energy AB (publ), i.e. Misen Enterprises AB and LLC Karpatygaz (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine. The value of the assets is estimated to be substantially higher than the purchase price for Misen Enterprises AB.
The purpose of the project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program.
The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on First North under identification ticker MISE.
The Certified Adviser of the company at Nasdaq First North is Consensus Asset Management AB (formerly Thenberg & Kinde Fondkommission AB).
For further information, please visit our website  www.misenenergy.se .

About Us

Misen Energy AB(publ) (former Svenska CapitalOil AB(publ) ) 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. 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, KarpatyGaz ( together 50.01%) and Ukrgazvydobuvannya,( 49.99%) the largest producer of natural gas in Ukraine and subsidiary of the publicly owned company Naftogaz, Ukraine. The value of the assets is estimated to be substantially 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 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.capitaloil.se.

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