Anglo African Oil & Gas PLC Notice of GM (1221J)
November 30 2018 - 11:37AM
UK Regulatory
TIDMAAOG
RNS Number : 1221J
Anglo African Oil & Gas PLC
30 November 2018
Anglo African Oil & Gas PLC / Index: AIM / Epic: AAOG /
Sector: Oil & Gas
ANGLO AFRICAN OIL & GAS PLC ('AAOG' or the 'Company')
Notice of General Meeting
Anglo African Oil & Gas plc, an independent oil and gas
developer, has today sent to shareholders a notice (the "Notice")
of General Meeting (the "GM") of the Company.
As announced on 29 November 2018, the Company does not intend to
draw down further on the GBP5 million Convertible Loan Note
Financing Facility which it entered into with Sandabel Capital L.P
on 23 October 2018. Accordingly, the Company is considering the
financing options available to it. One such option is to issue new
ordinary shares of 5p each in the capital of the Company ("Ordinary
Shares") or options convertible into such Ordinary Shares.
The Company is therefore seeking a general authority to allow
the directors to allot equity or other securities for cash up to an
aggregate nominal amount of GBP5,221,000 without first offering
them to existing shareholders. This authority is intended to
provide the directors the flexibility to raise further capital in
the most expedient manner possible, should the need or opportunity
arise.
There is no certainty that the directors will use this authority
and there is no intention currently to do so. Moreover, there is no
certainty that any eventual financing of the Company will involve
the issuance of equity at all.
If granted, the authority will last for only six months from the
date of the General Meeting, The Company will provide further
updates in due course.
The directors consider that the resolutions set out in the
Notice are in the best interests of the Company and its
shareholders as a whole. The directors who hold shares will be
voting in favour of all of the resolutions, and unanimously
recommend that you do so as well.
The GM will be held at the offices of finnCap at 60 New Broad
Street, London EC2M 1JJ on 17 December 2018 at 11 a.m.
**ENDS**
Market Abuse Regulation (MAR)
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information please visit www.aaog.com 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)
Camille Gochez (Corporate Broking)
St Brides Partners (Financial PR) Tel: +44 20 7236
1177
Frank Buhagiar, Hugo de Salis, Juliet Earl
Notes to Editors
Anglo African Oil & Gas (AAOG) is an AIM-listed independent
oil and gas company that owns a 56 per cent 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.
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
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