Energy
Monday, April 15th, 2024 3:36 pm EDT
Key Points
- Africa Oil Corp. repurchased a total of 1,076,000 common shares under its previously announced share buyback program between April 8, 2024, and April 12, 2024.
- The share buyback program, initiated on December 4, 2023, is conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 and applicable rules and policies of the Toronto Stock Exchange (TSX), Nasdaq Stockholm, and Canadian and Swedish securities laws.
- During the specified period, Africa Oil repurchased 416,000 common shares on the TSX and/or alternative Canadian trading systems, and 660,000 common shares on Nasdaq Stockholm. All repurchased common shares will be cancelled. Since December 6, 2023, the company has repurchased a total of 9,985,072 common shares, with a maximum of 38,654,702 shares to be repurchased by December 5, 2024, or until the program is completed or terminated.
Africa Oil Corp. repurchased a total of 1,076,000 Africa Oil common shares during the period of April 8, 2024, to April 12, 2024, under the previously announced share buyback program.
The launch of Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (“TSX”), Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.
During the period dated April 8, 2024 to April 12, 2024, the Company repurchased 416,000 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 660,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company.
For more information regarding transactions under the previously announced share buyback program in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of April 8 to April 12, 2024, see the following link to Nasdaq Stockholm’s website:
All common shares repurchased by Africa Oil under the share buyback program will be cancelled.
Since December 6, 2023, up to and including April 12, 2024, a total of 9,985,072 Africa Oil common shares have been repurchased under the share repurchase program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems. A maximum of 38,654,702 Africa Oil common shares may be repurchased under the share buyback program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems over the period of twelve months commencing December 6, 2023 and ending December 5, 2024, or until such earlier date as the share repurchase program is completed or terminated by the Company.
About Africa Oil
Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio in west and south of Africa, as well as Guyana. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.
Additional Information
This information is information that Africa Oil is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 02:00 a.m. EDT on April 15, 2024.
We seek Safe Harbor.
