Petro Welt Technologies AG: Joma evaluating a potential squeeze-out of minority shareholders according to sec 1 para 1 of the Austrian Squeeze-out Act (Gesellschafter-Ausschlussgesetz)

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014,

Vienna, February 25, 2022

Joma Industrial Source Corp. has acquired further shares in Petro Welt Technologies AG ("PeWeTe") and thereby increased its direct and indirect shareholdings to more than 90% of all shares.

Joma Industrial Source Corp. has today informed the management board of PeWeTe that it is currently evaluating the pros and cons of a minority squeeze-out procedure as provided in the Austrian Squeeze-Out Act (Gesellschafter-Ausschlussgesetz). There is no time limit for the decision of the majority shareholder to request a minority squeeze-out. Once Joma has concluded its deliberations, it will inform the management board of PeWeTe of its decision.

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.