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AFRICA OIL ANNOUNCES NORMAL COURSE ISSUER BID - LAUNCH OF SHARE BUYBACK PROGRAM
AFRICA OIL ANNOUNCES NORMAL COURSE ISSUER BID - LAUNCH OF SHARE BUYBACK PROGRAM Canada ...
About this update from Meren Energy Inc.
[{"type":"text","content":"\n \n \n \n AFRICA OIL ANNOUNCES NORMAL COURSE ISSUER BID - LAUNCH OF SHARE BUYBACK PROGRAM\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) –\n \n Africa Oil Corp.\n \n (\"Africa Oil\", \"AOC\" or the \"Company\") is pleased to announce that the Toronto Stock Exchange (the \"TSX\") has approved the Company's proposed normal course issuer bid (referred to as a share buy-back program in\n \n Europe\n \n ) (the \"NCIB\").\n \n View PDF version\n \n \n \n Pursuant to the NCIB, Africa Oil is authorized to repurchase through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems, as and when considered advisable by Africa Oil, up to 38,654,702 common shares of Africa Oil (the \"Common Shares\"), which represents 10% of the Company's \"public float\" of 386,547,028 Common Shares as at\n \n November 27, 2023\n \n . As of the same date, Africa Oil had 462,945,871 Common Shares issued and outstanding. Purchases of Common Shares will occur over a period of twelve months commencing\n \n December 6, 2023\n \n and ending on the earlier of\n \n December 5\n \n \n ,\n \n 2024, the date on which the Company has purchased the maximum number of Common Shares permitted under the NCIB, and the date on which the NCIB is terminated by Africa Oil.\n \n \n The NCIB is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (\"MAR\") and Commission Delegated Regulation (EU) No 2016/1052 (the \"Safe Harbor Regulation\") and the applicable rules and policies of the TSX and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.\n \n \n The maximum number of Common Shares which can be repurchased each day on Nasdaq Stockholm will be 25% of the average daily trading volume of the Common Shares for the 20 trading da...