(Oslo, 29 April 2011) Aladdin Oil & Gas Company ASA holds an EGM
On 28 April 2011, Aladdin Oil & Gas Company ASA held an extraordinary General Meeting.
Present at the General Meeting were more than 67% of the total shares issued in the Company, either in person or by proxy.According to the proposal from the Board, the General Meeting adopted two resolutions to increase the share capital of the Company through two separate tranches. By the first tranche the share capital is increased by minimum MUS$ 10 and maximum MUS$ 20 by issuance of and subscription for new shares in the Company at a subscription rate of NOK 4 per share. The persons entitled to subscribe for shares in relation to the first tranche are such designated persons as per invitation from the Company and/or Waterford. Waterford have already agreed to subscribe for shares corresponding to the minimum amount of MUS$ 10.
The second tranche will increase the Company’s share capital by minimum MNOK 3 and maximum MNOK 15 by issuance of and subscription for new shares at a subscription rate of NOK 4 per share. Subscription under the second tranche is offered to the existing shareholders of the Company. The minimum subscription per shareholder of new shares in the Company shall amount to the minimum sum of NOK 450,000 in shares.
The deadline for subscribing for shares under both tranches is 5 business days from the date of the General Meeting, i.e. Thursday 5 May 2011.
Moreover, the General Meeting adopted a resolution to elect a new Board member, Linda Dowding. In addition the General Meeting also adopted a resolution electing Deloitte AS (bus.reg. no. 980 211 282) as the Company’s new auditor.
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 three licenses in the Timan-Pechora province in Northwest Russia, as well as 5 licenses through our company OOO Veselovskoye in the Orenburg area.
Ecoteq Energy ASA (Ecoteq) is an oil and gas extraction and production company (E&P) based in Oslo, Norway.
