Request for extraordinary general meeting

The Company has received from Sand Grove Capital Management LLP, acting as Investment Manager to Sand Grove Opportunities Master Fund Ltd and Sand Grove Tactical Fund LP, a request to convene and hold an extraordinary general meeting in order to discuss a new composition of the board of directors and the Nomination Committee. The proposal is attached hereto. It should be noted that none of the existing members of the board of directors and Nomination Committee have offered their resignations. 

The board of directors will call for an extraordinary  general meeting to be held in accordance with the provisions of the Public Limited Liability Companies Act. 

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com

About Otello:

Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.