Afren PLC Directors to acquire Afren shares
July 05 2013 - 2:00AM
RNS Non-Regulatory
TIDMAFR
Afren PLC
05 July 2013
Afren plc (AFR LN)
Afren Chairman and Executive Directors to acquire Afren shares
in the public markets
London, Friday 5(th) July 2013 - Afren plc ("Afren" or the
"Company") announces that following the sale of all Afren PDMR
holdings in First Hydrocarbon Nigeria ("FHN") to CSL Stockbrokers
in Nigeria, they have undertaken to use the net proceeds to acquire
Afren shares in the public markets.
The Afren Chairman and Executive Directors, together with
certain other Afren PDMRs, have today entered into Sale and
Purchase Agreements with CSL Stockbrokers for the sale of
11,819,085 shares in FHN (approximately 10 per cent. of the issued
share capital of FHN) at a price of US$2.47 per share. Net proceeds
will be used to acquire Afren shares in the public markets,
following the expiry of the current H1 2013 close period, and
undertake to hold the shares for a minimum of two years.
For further information contact:
Pelham Bell Pottinger (+44 20
7861 3232)
James Henderson
Mark Antelme
Notes to Editors
Afren plc
Afren is an independent upstream oil and gas exploration and
production company listed on the main market of the London Stock
Exchange and a constituent of the Financial Times Stock Exchange
Index of the leading 250 UK listed companies. Afren has a portfolio
of assets spanning the full cycle E&P value chain. Afren is
currently producing from its assets in Nigeria, Côte d'Ivoire and
the Kurdistan region of Iraq and holds further exploration
interests in Ghana, Nigeria, Côte d'Ivoire, the Kurdistan region of
Iraq, Congo Brazzaville, the Joint Development Zone of Nigeria -
São Tomé & Príncipe, Kenya, Ethiopia, Madagascar, Seychelles,
Tanzania and South Africa. For more information please refer to
www.afren.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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