STEINHAUSEN, SWITZERLAND – EQS Newswire – 21 March 2023 – Terraoil Swiss AG (“Terraoil” or “Company”), an energy company with a strong focus on the Mediterranean is pleased to announce that the Company has completed the initial steps for the restructuring of the Company. The restructuring will provide all shareholders the opportunity to hold a pro-rata share of the new parent company (“Topco”) which shares are intended to be listed on an international stock exchange. It is expected that Terraoil will ultimately become a 100% owned subsidiary of Topco.
The restructuring will give all registered shareholders the opportunity to exchange their existing shares of Terraoil for shares of Topco on a one for one basis. The transaction is expected to be effected by way of capital increases of Topco by contributions in kind. Topco has been incorporated in Liechtenstein based on the analysis of the Company which showed that for many international investors it is more attractive to invest into a Liechtenstein rather than a Swiss company. All registered shareholders will receive further written communication directly from the Company with instructions on how to exchange their shares for Topco shares.
Topco has engaged a top tier investment bank as its financial advisor with respect to a pre-initial public offering financing. It is envisaged that this investment bank will also support Topco in a potential international stock listing. Shareholders will receive further information if and when available and appropriate.
Chief Executive Officer, Peter Krempin commented:
“We have reached a major milestone in the development of the group. Our shareholders will now have the opportunity to participate in the restructuring of the Company. Our partnership with a renowned investment bank is expected to provide the expertise to raise the required financing to advance the group’s projects and ultimately achieve the listing of our integrated energy company on an international stock exchange.”
If you are an
Terraoil shareholder and would like
additional information, contact
Peter Krempin either via email [email protected] or by telephone at +41 71 544 01 20.
The issuer is solely responsible for the content of this announcement.