EQS-Ad-hoc: Petro Welt Technologies AG / Key word(s): Squeeze Out
Petro Welt Technologies AG: Joma considers squeeze-out of minority
shareholders according to Section 1 (1) of the Austrian Squeeze-out Act

26-Jul-2022 / 16:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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Vienna, July 26, 2022

Joma Industrial Source Corp. (“Joma”) holds more than 90% of the shares in
Petro Welt Technologies AG (“PeWeTe”) through direct and indirect
shareholdings and is therefore deemed to be the principal shareholder
pursuant to Section 1 (1) and (2) of the Austrian Squeeze-out Act
(Gesellschafter-Ausschlussgesetz, GesAusG).

Joma has today informed the Management Board of PeWeTe of its intention to
submit a written request for squeeze-out pursuant to Section 1 (1)
GesAusG, provided that (a) the extraordinary general meeting of PeWeTe on
August 16, 2022 resolves to approve the sale of the participations in
Russia in a way that is valid, binding and not subject to challenge or
judicial review, or any such challenge or judicial review has been
withdrawn, rejected, or adjudicated in favor of the Company, and (b) if
the sale of the participations in Russia has been validly entered into,
all necessary regulatory approvals have been granted, and it has been
closed. The squeeze-out of the minority shareholders shall take place at a
share price calculated as if the sale of the participations in Russia had
not been carried out and shall be determined by Joma on the basis of a
group valuation made by Grant Thornton Austria GmbH Wirtschaftsprüfungs-
und Steuerberatungsgesellschaft.

About Petro Welt Technologies AG

Petro Welt Technologies AG, headquartered in Vienna, is one of the
leading, early established OFS companies in Russia and the CIS,
specializing in services to increase the productivity of new and existing
oil and gas formations.

Inquiries

Konstantin Huber (Male Huber Friends GmbH)

Investor Relations

T: +43 699 1172 68 14

huber@mhfriends.at

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26-Jul-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: Petro Welt Technologies AG
Kärntner Ring 11-13
1010 Vienna
Austria
Phone: +43 1 535 23 20-0
Fax: +43 1 535 23 20-20
E-mail: ir@pewete.com
Internet: www.pewete.com
ISIN: AT0000A00Y78
WKN: A0JKWU
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1406325

 
End of Announcement EQS News Service

1406325  26-Jul-2022 CET/CEST