Aladdin Oil & Gas Company ASA (Aladdin) has signed a sale and purchase agreement with Levant Energy Limited which owns some 27.5% of the issued share capital of Timan Oil and Gas Plc which Aladdin will acquire in exchange for the issue of new ordinary shares of Aladdin representing some 90.7% of the enlarged issued share capital of Aladdin. The existing Board Aladdin members will resign at the EGM called for 5 December 2014. A nomination committee of shareholders will propose a new board of directors for election at the EGM.