Selena Oil & Gas : Resolutions from AGM 2016 of June 28th 2016

29.06.2016

Adoption of the Financial Statements and the Annual Report for 2015

The Annual General Meeting of Selena Oil & Gas Holding AB (publ) resolved to adopt the submitted income statement and balance sheet, the consolidated income statement and the consolidated balance sheet for 2015. The AGM also adopted the proposed dispositions of the Company's result as presented in the Company´s Annual Report for 2015.

Discharge of Directors and CEO from liability for financial year of 2015

Shareholders representing more than ten percent of capital and votes, voted to deny discharge from liabilities for Directors Lars Bergström, Jürgen Lamp, Indrek Rahumaa, Per-Olof Sjöstedt, and Poul Waern and also for the CEO, Magnus Stuart.

Election of a new board, auditors and decision on fees to directors and auditors

The AGM resolved to re-elect board members, Indrek Rahumaa, Jürgen Lamp, and to new elect Eimar Rahumaa and Petr Arbatov. Lars Bergström, PeO Sjöstedt and Paul Waern were thanked for their services to the Company, as they had declined re-election.

PricewaterhouseCoopers AB was re-elected as auditors, with Martin Johansson as responsible auditor until end of the annual general meeting 2017.

It was resolved to set Director's fees at SEK 50,000 for each Board member and at SEK 60,000 for the Chairman. The auditors will be paid in accordance to approved invoicing.

Resolution on an immediate directed issue of new shares

The AGM approved the proposal to increase the Company's share capital through a direct emission of 2.4 million shares, with proceeds of SEK 3.45 M, and an immediate execution.

Resolution on a rights issue to be executed during 2016

The AGM approved the proposal to increase the Company's share capital through an issue of 2,422,163 shares with preferential rights for shareholders, to be executed before the end of 2016.

For further information, please contact:

Magnus Stuart, CEO

[e-mail]

[phone]

Selena Oil & Gas Holding AB (Publ) (former Emitor Holding AB) is engaged in the exploration, production and transportation of oil and gas in the Volga-Ural region in the Russian Federation, center in Perm. The Company´s shares are temporarily not publicly listed, but the Company observes all rules, practices and policies for any company subject to public listing.

The information in above press release is of such character that Selena Oil & Gas Holding AB (publ) must disclose to act in accordance the Securities Markets Act and / or the Act regarding trading with financial instruments. The information was submitted for publication on June 29, 2016 at12:00.

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Click here for Emitor Holding AB (publ) Press releases 2008 - 2011