The Extraordinary General Meeting of Shareholders of 19.02.2014 has approved the Settlement Agreement between the Company and Nouvos International S.A. regarding payment of all outstanding amounts under the Loan Agreement by transfer of shares in Stikito Limited and intercompany loan. Effectively the Company is discharged of debt in the amount of US$ 11,065,652.

The new investor – Bedford Assets Limited is acquiring shares from the existing shareholders and will hold approximately 61.65% in the Company.

The above new investor requested the Company to appoint the following two new board members, which were duly approved at this EGM:

Mr. Johannes Richardsen is an independent management consultant. Educated from Oslo Business School in 1982. He has a broad experience (>25 years) from business administration, leadership, and change management processes. Supports leaders and organisations to perform according to their goals. Engaged in management for hire positions at top and mid level management, as well as engagements as member and chairman of boards. Further more engaged in projects related to strategy development, re-organising processes and development programs – and as advisor/discussion partner for company boards, management groups or individual leaders.

Mr. John Shaw qualified as a Chartered Accountant in 1975 with Touche Ross & Co. before joining Chase Investment Bank Limited in1985. In early 1995 he started working with a group which subsequently acquired stockbrokers Seymour Pierce Limited which became the largest nominated adviser to the London AIM market.  In March 2001, he co-founded CFA Capital Group Plc, a financial services holding company, owning a stockbroker and nominated adviser leaving in 2004. Since then he has been a director of a number of public and private companies.

Company’s new Board of Directors will thus consist of:

- Mr. John Richard Shaw, Chairman

- Mr. Johannes Richardsen, Director

- Ms. Gouzel Mouksinova, Director

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 4 licenses in the Timan-Pechora province in Northwest Russia.