Nomination Committee

Pursuant to a resolution by Selena Oil & Gas Holding AB’s 2015 Annual General Meeting, the Nomination Committee comprise five members, the Company´s elected Chairman and representatives for the four largest shareholders as of date on 30 September.

Selena Oil & Gas Holding AB (publ) have after the decision at AGM in 2015, established the procedure to form the Company´s Nomination Committee. The Nominating Committee shallconsist of five members, the Company´s elected Chairman and one representative from each of the voting power wise four largest shareholders on the basis of known shareholders on the last banking day of September 2015, who also gives consent to serve on the Nomination Committee.

In determining who shall be considered as the Company´s largest shareholder, the Company´s Chairman will make a selection from the official list of owners established on the last banking day in September from the registers maintained by Euroclear Sweden AB.  The Chairman will, from the supplied list of registered shareholders, select the four largest shareholders and seek to obtain their written consent to participate in the Nomination Committee. In the event that a selected shareholder denies such appointment, the Chairman will proceed and approach the subsequent next largest shareholder, until the Nomination Committee has been duly formed.

The shareholders who are not registered with Euroclear Sweden AB, and who wish to exercise their right, shall notify the Chairman of the board and be able to verify their ownership as shareholders. For legal reasons, shareholders who are acting as capital insurers and providers of direct endowments are not eligible as candidates to serve on the Nomination Committee. Such shareholders are generally restricted from representing any individual or company has ownership to a specific direct endowment policy.

At the event of a formed Nomination Committee, the Companys Chairman shall call for a constitution of the Nomination Committee through a meeting between the members. The Nomination Committee shall seek to appoint its Chairman and exercise its obligations. 

The Company shall publish the names of the members of Nomination Committee in its 9 Month/3 Quarter Report throughNGM-News and on www.selenaoil.com. According to 2015 financial calendar this will be made on November 27th.

Chairman of the Nomination Committee shall, unless the members agree otherwise, be the member representing the largest shareholder. The Chairman may not chair the Nomination Committee unless there are special reasons calling for such arrangement. The Nomination Committee shall serve until a new Nomination Committee has been appointed in accordance with the procedure. If ownerships and shareholdings are changed after members have been appointed, but before the AGM, the composition of the committee be changed with respect thereto. A member who leaves the nomination committee before its work has been completed, shall be replaced if the Committee so decides, by another person representing the same shareholder or, if not possible, by a person who represents the shareholder that is next in line.

No fee shall bepaid to the members of the nomination committee. The Nomination Committee shall charge fair and reasonable expenses for its travel expenses and investigations that the committee deems necessary to conduct to fulfill its duties. The Nominating Committeeshall in due time before the Company's AGM present proposals for: (i) the Chairman of the Annual General Meeting; (ii) the number of Board members and deputy Board members; (iii) the election of Chairman and Board members; (iv) fees to be shared between the General Meeting appointed the chairman and other directors, including fees for committee work; and (v) the election and remuneration of auditors and deputy auditors (if any). In addition, the Nominating Committee shall submit proposals to the principles for the appointment of the new nomination. The Nominating Committee shall perform the duties from time to time by the Swedish Code of Corporate Governance.

The Board of Directors