Petro Welt Technologies AG: Payment of cash compensation

EQS-News: Petro Welt Technologies AG / Key word(s): Squeeze Out
Petro Welt Technologies AG: Payment of cash compensation

11.10.2023 / 20:13 CET/CEST
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE

Vienna, October 11, 2023

The cash compensation in the amount of EUR 2.234327 per share of Petro Welt
Technologies AG was paid out to the former minority shareholders on October
9, 2023 in accordance with the legal requirements. The amount of the cash
compensation consists of the cash compensation of EUR 2.20 resolved at the
Annual General Meeting held on June 27, 2023 and the statutory interest
until the due date in the amount of EUR 0.034327. The payment of the cash
compensation was made automatically.

Furthermore, on October 9, 2023, the cash settlement claims, ISIN
AT0000A35J35, of the former minority shareholders were derecognized and in
the event of a judicial review of the cash compensation one claim for
subsequent increase of the cash compensation, ISIN AT0000A35J43, was
recognized for each cash settlement claim. If the former minority
shareholders are awarded a higher cash compensation in the course of the
judicial review, the amount of increase will also be automatically paid out
to the former minority shareholders against derecognition of the claims for
subsequent increase of the cash compensation.

About Petro Welt Technologies AG

Petro Welt Technologies AG, a company domiciled in Vienna, Austria, had been
one of the leading and oldest oilfield services (OFS) companies in Russia
and the CIS specializing in services that increase the productivity of both
new and existing oil & gas formations. Against the backdrop of the sanctions
against Russia, the company has sold all its subsidiaries in this market and
now operates exclusively in Kazakhstan.

Contact

Konstantin Huber (Male Huber Friends GmbH)

Investor Relations

T: +43 699 1172 68 14

huber@mhfriends.at


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11.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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1746879 11.10.2023 CET/CEST