Business
Schedule One Update - Afentra PLC
Schedule One Update - Afentra PLC.
About this update from Afentra Plc
[{"type":"text","content":"\n\n\n\n\n\nANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES (\"AIM RULES\")\n\n\n\n\n\n\n\n\n\nCOMPANY NAME:\n\n\n\n\nAfentra plc (\"Afentra\" or the \"Company\")\n \n\n\n\n\nCOMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :\n\n\n\n\n \nRegistered Office & Head Office:\nHigh Holborn House\n52-54 High Holborn\nLondon\nEngland\nWC1V 6RL\n \n\n\n\n\nCOUNTRY OF INCORPORATION:\n\n\n\n\nEngland and Wales\n \n\n\n\n\nCOMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:\n\n\n\n\nhttps://afentraplc.com/aim-rule-26/\n \n\n\n\n\nCOMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:\n\n\n\n\nAfentra, formerly Sterling Energy plc, was launched in 2021 to support the African energy transition as a responsible, well managed independent oil and gas company, assisting in the continued economic and social development of African economies through responsible management of their oil and gas assets and bridging the gap to renewable and other sustainable forms of energy. Afentra aims to access, redevelop and maximise the full potential of existing producing fields and undeveloped discoveries that no longer fit the portfolio of IOCs and host governments in a safe, responsible and sustainable manner.\n \nThe Company is in the process of acquiring the following non-operating interests in assets located offshore Angola:\n· 14% interest in Block 3/05 and a 40% interest in Block 23 offshore Angola from Sonangol Pesquisa e Produção S.A. (\"Sonangol\") for an aggregate consideration, including maximum deferred consideration, of approximately US$91.0 million (the \"Sonangol Acquisition\"); and\n· a further 12% interest in Block 3/05 and a 12% (and potentially up to 16%) interest in Block 3/05A offshore Angola from Azule Energy Angola Production B.V. for an aggregate consideration, including maximum deferred consideration, of approximately US$84.5 million (the \"Azule Acquisition\").\n \nPursuant to Rule 14 of the AIM Rules for Companies, the Sonangol Acquisition c...