AAOG Anglo African Oil & Gas Plc

TIDMAAOG

RNS Number : 3177I

Anglo African Oil & Gas PLC

01 April 2020

Anglo African Oil & Gas plc ("AAOG" or "the Company")

Financing Update

Further to the announcement of 19 March 2020, AAOG announces that Forum Energy Services Limited ("Forum") has sent the Company GBP50,000 in order to allow the Company to satisfy its near-term creditors. In consideration, AAOG will grant to Forum 22,727,272 ordinary shares in the capital of the Company ("Ordinary Shares") at a price of GBP0.0022p per Ordinary Share (the "Issue Price").

The Company further announces that it has today issued 13,951,921 new Ordinary Shares the Issue Price in settlement of certain creditors.

In addition, the Company has today issued 100 new Ordinary Shares at the Issue Price to Sarah Cope, the Company's Chairman, in order that there is a quorum of shareholders present at the Company's upcoming general meeting to be held on 18 April 2020. Due to government restrictions on travel and gatherings of more than 2 people due to the Coronavirus pandemic, only the chairman and one other shareholder may attend the general meeting in person.

The Company will apply for admission of the 36,679,293 new Ordinary Shares (the "Issue Shares") to trading on AIM ("Admission") and dealings are expected to commence on or around 6 April 2020. On Admission, the Company will have 466,619,543 Ordinary Shares in issue and there are no Ordinary Shares held in treasury. Therefore the figure of 466,619,543 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.

Forum has confirmed that further funds will be available to the Company in due course. AAOG continues to manage its creditors carefully.

Enquiries:

 
 Anglo African Oil & Gas plc               info@aaog.com 
 Sarah Cope, Non-Executive Chair 
 
 finnCap Ltd (Nominated Adviser)           Tel: +44 20 7220 0500 
 Christopher Raggett, Giles Rolls, Teddy 
  Whiley (Corporate Finance) 
 Camille Gochez (ECM) 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

IOEUAAKRRAUOOAR

(END) Dow Jones Newswires

April 01, 2020 02:00 ET (06:00 GMT)

Anglo African Oil & Gas (LSE:AAOG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Anglo African Oil & Gas (LSE:AAOG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024