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Anglo African O&G (AAOG)

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Monday 04 June, 2018

Anglo African O&G

Result of General Meeting

RNS Number : 1974Q
Anglo African Oil & Gas PLC
04 June 2018
 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ANGLO AFRICAN OIL & GAS PLC. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF ANGLO AFRICAN OIL & GAS PLC

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").

 

Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG / Sector: Oil & Gas

 

ANGLO AFRICAN OIL & GAS PLC ("AAOG" or the "Company")

Result of General Meeting and Total Voting Rights

 

Anglo African Oil & Gas plc (AIM: AAOG), an independent oil and gas developer, is pleased to announce that, at the Company's General Meeting held at 11.00 a.m. today, the resolution proposed to the shareholders was duly passed, with over 99 per cent. of those votes cast in favour. Sister Holding SAS ("Sister") voted in favour of the resolution.

Accordingly, a total of 92,551,459 new ordinary shares of £0.05 each in the capital of the Company (the "Placing Shares") will be placed at a price of 8 pence per Placing Shares ("Placing Price") and it is expected that admission of the Placing Shares will become effective at 8.00 a.m. on 5 June 2018 ("Admission").

On Admission, the Company will have 162,056,024 Ordinary Shares in issue and there are no shares held in treasury. Therefore the Company's total number of Ordinary Shares with voting rights is 162,056,024 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

David Sefton, Executive Chairman of AAOG, said:

 

"I would like to thank all of those who supported the Placing. AAOG can now move forward to drill TLP-103. I also want to express thanks to Sister, who today voted in favour of the resolution and conveyed their support of the management team."

 

All capitalised terms not defined herein shall have the meanings ascribed to them in the announcement made on 17 May 2018 and confirmed in the Circular.

 

Enquiries

For further information please visit www.aaog.co or contact:

 

Anglo African Oil & Gas plc

Tel: c/o St Brides Partners +44 20 7236 1177

David Sefton, Executive Chairman

James Berwick, Chief Executive Officer




finnCap Ltd (Nominated Adviser and Broker)

Tel: +44 20 7220 0500

Christopher Raggett, Giles Rolls, Anthony Adams (Corporate Finance)


Emily Morris (Corporate Broking)




St Brides Partners (Financial PR)

Tel: +44 20 7236 1177

Frank Buhagiar, Hugo de Salis


 

Notes to Editors

 

Anglo African Oil & Gas (AAOG) is an AIM-listed independent oil and gas company that owns a 56% stake in the producing Tilapia oil field in the Republic of the Congo.  The Company boasts a low-cost production story in a prolific hydrocarbon region with significant exploration upside, differentiating it substantially from its E&P peers.  Additionally, management's remuneration is tied to hitting production milestones, reflecting their strong focus on cost control.

Tilapia has an excellent address, being located close to multi-billion-barrel fields that include the ENI-operated Litchendjili field and the 5,000bopd Minsala Marine field.  Tilapia currently produces approximately 38 bopd from two near-surface intervals.  It has an undeveloped discovery in the lower Mengo sands with gross contingent resources of 8.1m barrels and a deeper exploration prospect, with gross prospective resources of 58.4m barrels, in the productive Djeno interval from which the adjacent Minsala field produces. 

 


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