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AFRICA OIL ANNOUNCES INCREASE IN ITS IMPACT OIL & GAS SHAREHOLDING
AFRICA OIL ANNOUNCES INCREASE IN ITS IMPACT OIL & GAS SHAREHOLDING AFRICA OIL ANNOU...
About this update from Meren Energy Inc.
[{"type":"text","content":"\n\n\n\n AFRICA OIL ANNOUNCES INCREASE IN ITS IMPACT OIL & GAS SHAREHOLDING\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n AFRICA OIL ANNOUNCES INCREASE IN ITS IMPACT OIL & GAS SHAREHOLDING\n \n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 19, 2024\n \n\n /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI)\n \n – Africa Oil Corp.\n \n (\"Africa Oil\", or the \"Company\") is pleased to provide an update on the offer to minority shareholders in Impact Oil & Gas Limited (\"Impact\") announced on\n \n March 18, 2024\n \n ( \"Offer\").\n \n View PDF version\n \n\n\n The Company made the Offer to acquire shares from minority shareholders in Impact conditional upon completion of the farm down transaction for Impact's\n \n Namibia\n \n assets announced on\n \n January 10, 2024\n \n .\n \n\n The Company has decided to waive this condition and proceed to complete the Offer. Completion is expected to occur within five Business Days. On completion of the Offer Africa Oil will purchase 25,652,039 shares from 42 accepting shareholders at a cost of approximately\n \n USD 18.6 million\n \n . Following completion of these purchases the Company will hold 369,304,198 shares in Impact and will increase its shareholding to 32.4%, accounting for Impact management share options exercised during\n \n July 2024\n \n .\n \n\n\n About Africa Oil\n \n\n\n Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater\n \n Nigeria\n \n and an exploration/appraisal portfolio in west and south of\n \n Africa\n \n . The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol \"AOI\".\n \n\n\n Additional Information\n \n\n\n The information was submitted for publication, through the agency of the contact persons set out above, at\n \n 05:00 p.m. EDT\n \n on\n \n August 19, 2024\n \n .\n \n\n\n Forward Looking Information\n \n\n\n Certain statements and information contained herein constitute \"forward-looking information\" (within the meaning of applicable Canadian securities legislation). ...