CAMAC Energy Announces Corporate Changes
April 17 2015 - 7:00AM
Business Wire
Changes name to Erin Energy
Corporation
New ticker symbol “ERN”
Announces 1:6 reverse stock split
CAMAC Energy Inc. (NYSE MKT:CAK) (the “Company”) will implement
a reverse stock split of its common stock pursuant to which each
six shares of common stock will be converted into one share of
common stock, effective as of 5:00 p.m. Eastern time on Wednesday,
April 22, 2015.
Concurrently with the reverse stock split, the Company announced
it will change its name to Erin Energy Corporation (“Erin Energy”)
and will trade under the new ticker symbol “ERN” on both the NYSE
MKT and the Johannesburg Stock Exchange (the “JSE”). Shares of the
Company’s common stock will begin to trade under the new symbol and
on a split-adjusted basis at the opening of trading on Thursday,
April 23, 2015 and will have new CUSIP and ISIN numbers.
Kase Lawal, Chairman and Chief Executive Officer commented:
“These important actions together with our impending production
from the Oyo field are the next phase of our company’s
transformation into a focused, world-class, international
exploration and development company. We are a fundamentally
different company than we were a few years ago, and our rebranded
company represents the transformation our organization has
undergone over time. As we anticipate production tie-in from the
Oyo-8 and Oyo-7 wells, it is with great excitement that we look to
the future and the significant growth potential of Erin
Energy.”
The new Company website will be www.erinenergy.com.
Stockholders who hold their shares through a bank, broker,
custodian or other nominee should contact that individual or
institution for further information about the impact of the reverse
stock split on their shares. Stockholders whose shares are
registered directly with our transfer agent (Continental Stock
Transfer & Trust Company for shares traded on the NYSE MKT and
Link Market Services South Africa (Pty) Limited for shares traded
on the JSE) should contact the appropriate transfer agent for
further information about the impact of the reverse stock split on
their shares. Any fractional shares resulting from the reverse
stock split will be settled in cash at a value equal to the
respective fractional portions of the closing share price on
Wednesday, April 22, 2015.
About CAMAC Energy
CAMAC Energy is an independent oil and gas exploration and
production company focused on energy resources in sub-Saharan
Africa. Its asset portfolio consists of nine licenses across four
countries covering an area of 43,000 square kilometers, including
current production and other exploration projects offshore Nigeria,
as well as exploration licenses offshore Ghana, Kenya, and Gambia
and onshore Kenya. CAMAC Energy is headquartered in Houston, Texas.
For more information about CAMAC Energy, please visit
www.camacenergy.com.
CAMAC Energy Inc.Investors:Chris Heath, +1
713-797-2945chris.heath@camacenergy.comorMedia:Lionel McBee,
+1 713-797-2960lionel.mcbee@camacenergy.com
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