EANS-News: C.A.T. oil AG received information about legal dispute around its
major shareholder CAT.Holding (Cyprus) Ltd.
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information
The Management Board of C.A.T. oil AG (O2C, ISIN: AT0000A00Y78; "the Company")
was informed by AB PCO Investment Limited ("AB PCO"), which is fully controlled
by Anna Brinkmann, that AB PCO has also filed for dissolution of CAT GmbH
Consulting Agency Trade & Co (Cyprus) ("CAT GmbH") on November 18, 2014. Through
AB PCO Anna Brinkmann holds 49.75% of the shares of CAT GmbH. CAT GmbH is a
Limited Partnership under Cyprus Law, which is in the process of dissolution by
court action filed on October 27, 2014 by Joma Industrial Source Corp. The
Limited Partnership indirectly holds 100 % of the shares in CAT. Holding Ltd.
(Cyprus) ("CAT. Holding"), the Company's major shareholder.
AB PCO has therefore requested the Management Board of C.A.T. oil AG not to cast
any voting rights or accept the exertion of any other rights attributed to the
shares in C.A.T. oil AG without knowing that all limited partners of CAT GmbH -
including AB PCO - have consented to such, pending dissolution of the Limited
Partnership.
In addition to the shares which Anna Brinkmann indirectly holds in C.A.T. oil AG
through CAT. Holding, she directly holds approx. 11 % of the authorized share
capital of the Company.
Furthermore, the Management Board was informed by Dr. Walter Höft on November
20, 2014 regarding the asserted transfer of shares from his holding company
Skible Holding to Joma Industrial Source Corp. After the review of documents Dr.
Höft decided not to take legal action against the asserted transfer of shares in
Skible Holding.
www.catoilag.com
Press contact:
FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@fticonsulting.com
Steffi Susan Kim
Phone: +49 (0)69 92037-115
Email: steffi.kim@fticonsulting.com
About C.A.T. oil AG:
C.A.T. oil AG is one of the leading independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hy-draulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 450 million in growth
and diversification since its IPO in 2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
pro-ducers such as Rosneft, Lukoil, Gazprom Neft, Tomskneft VNK, Slavneft,
Russneft and KazMunaiGaz. The Company has long-standing relationships with these
custom-ers and has been a reliable service provider since its market entrance in
the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's H1 2014 weighted
average headcount stood at 2,873 people, most of which are based in Russia and
Kazakh-stan.
Further inquiry note:
Carolin Amann Tel: +49(0)69-92037-132 Email: carolin.amann@fticonsulting.com
Steffi Susan Kim Tel: +49(0)69-92037-115 Email: steffi.kim@fticonsulting.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: C.A.T. oil AG
Kärntner Ring 11-13
A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
