As published earlier, the Board of Directors of Crown Energy AB ("Crown Energy" or the "Company") decided to issue new convertible bonds as a directed placement. The issue amounts to 16.5 million SEK and the initial plan was to have external investors and potentially along with subscribers that would be included within the circle which is covered by Chapter 16. In the Swedish Companies Act, to subscribe for the newly issued convertibles.

To simplify judicial administration, and to enable investors to trade with the convertible bonds with immediate effect, the Board has, however, agreed to Ulrik Jansson selling 1,707,646 existing convertible bonds in the series CRWN KV1 to investors and himself signs the newly issued convertible bonds. The decision to issue the convertibles requires that shareholders representing at least nine tenths of both the votes cast and the shares represented at the shareholders meeting must support the decision at the Company's annual general meeting on 14 May 2014.

Through the newly issued convertible bonds, the Company's working capital is strengthened and gives the Company flexibility in further development.

Crown Energy AB (publ) discloses above information pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on April 23, 2014, 4:50 PM.

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Press release 2014-04-23  (231 KB)

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