Report from the Extraordinary General Meeting in Svenska Capital Oil on April, 13 2012
At the Extraordinary General Meeting i Svenska Capital Oil AB the participating shareholders at the meeting unanimously resolved to change the company name to Misen Energy AB (publ.) from previously Svenska Capital Oil AB (publ.).
The rational behind the change of the company name is that the new name better is in line with the company operations after the acquisition of Misen Enterprises AB. The company activities are via the partnership in a new Joint Activity inUkrainefocusing on gas extraction from earlier oil exploration.
The change of company name was the only item for resolution on the agenda for the EGM.
The EGM took place at the offices of the law firm Baker& Mc Kenzie in Stockholm and was attended by totally 12 people whereof 5 shareholders with voting rights representing slightly more than 59 per cent of total shares and votes in the company.
For further information please contact: Leif Larsson, CEO tel 46 31 759 50 71 mobile 46 708 40 82 71 E-mail: leif@capital oil.se
Capital Oil is a Swedish oil and gas exploration and extraction company with operations in Ukraine. Capital Oil was founded in 2004 and the Capital Oil share is since 12 June 2007 traded on NasdaqOMX First North.
In 2011 Svenska Capital Oil 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 Capital Oil with essential gas and oil assets. As consideration of this acquisition a new share issue was performed.
The gas extraction assets are acquired by production cooperation via a joint activity project governed by a Joint Activity Agreement (the “JAA”) between the wholly owned subsidiaries of Capital Oil, 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 essentially more than the purchase price for Misen.
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 residence of Capita Oil is in Gothenburg and the shares are traded on First North under identification COIL 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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