Aladdin Oil & Gas Company ASA has requested that Norsk Tillitsmann invite bondholders to a meeting to convert the company’s bond debt to shares

As part of Aladdin Oil & Gas Company ASAs (AOGC) financial restructuring and preparations to acquire new capital has AOGC asked Norsk Tillitsmann ASA to invite the bond holders to a meeting where they will be offered to convert their bonds to shares in the company. This will be done together with an offer to new and existing shareholders, and the bond holders, the opportunity to subscribe to shares in the company. Conversion of debt depends on minimum NOK 30 Million being subscribed in new capital, and that this is approved in an extraordinary shareholders’ meeting to be held in July. Correspondingly, a minimum of USD 3 Million has already been committed by an investor.

- It will be a relief for the company to be free from debt and get new capital so the company can again focus on developing its licenses and accelerate the company’s profitability – says Chairman of the board Einar Askvig

Further information and call for meeting can be found on the website of
Norsk Tillitsmann: www.stamdata.no

For further information, please contact:
Chairman Einar Askvig, (+34 666 508 510)

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia which holds two licenses in the Timan-Pechora province in Northwest Russia, as well as 6 licenses through our companies ZAO Orneftegaz and OOO Veselovskoye in the Orenburg area.