Energy, Automobile, EV, Renewable News | Africa Oil announce Company repurchase Africa Oil common shares

Africa Oil announce Company repurchase Africa Oil common shares

October 31, 2022

Africa Oil Corp. announce that the Company repurchased a total of 2,084,350 Africa Oil common shares during the period of October 24, 2022 to October 28, 2022 under the previously announced share buyback program. View PDF version

The launch of Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on September 22, 2022, 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 October 24, 2022 to October 28, 2022, the Company repurchased 834,350 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 1,250,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company.

All common shares repurchased by Africa Oil under the share buyback program will be cancelled. During the period dated October 24, 2022 to October 28, 2022, the Company cancelled 1,333,740 common shares repurchased under the share buyback program.

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