Anglo African Oil & Gas PLC Issue of Equity and ISA Update (3843E)
February 27 2020 - 8:15AM
UK Regulatory
TIDMAAOG
RNS Number : 3843E
Anglo African Oil & Gas PLC
27 February 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").
Anglo African Oil & Gas plc ("AAOG" or "the Company")
Issue of Equity and ISA Update
The Company announces that it has today issued 21,169,612 new
ordinary shares of 0.1p each ("Ordinary Shares") at a price of
0.21p each in settlement of certain creditors. Application will be
made for the admission of the new Ordinary Shares to trading on AIM
("Admission") and dealings are expected to commence on 4 March
2020.
On Admission, the Company will have 429,940,250 Ordinary Shares
in issue and there are no shares held in treasury. Therefore, the
Company's total number of Ordinary Shares with voting rights is
429,940,250.
The figure of 429,940,250 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.
The Investor Sharing Agreement
The Company confirms that it received GBP1,010,779.85 in
aggregate (including the 361,376.35 received from the sale to Forum
Energy Services announced on 20 January 2020) pursuant to the
investor sharing agreement (the "ISA)" entered into with YA II PN,
Ltd and RiverFort Global Opportunities PCC Limited (the
"Investors") as announced on 17 July 2019.
Readers are reminded that:
-- the "Benchmark Price" was 5.93p per Ordinary Share in the capital of the Company
-- the Benchmark Monthly Settlement was GBP473,767.71 (A)
-- the number of Assumed Monthly Traded Shares by the Investors
was 9,110,918 Ordinary Shares in each month
-- the Benchmark Monthly Settlement was subject to adjustment pursuant to:
o the one-month volume weighted average price (VWAP) per Ordinary Share; and
o the number of Ordinary Shares able to be traded by the Investors.
The amount receivable by the Company pursuant to the ISA
(Monthly Settlement) was:
(A) The Benchmark Monthly Settlement (A above)
Multiplied by
(B) The one-month VWAP of the Ordinary Shares as a percentage of
the Benchmark Price (B below)
Multiplied by
(C) The Percentage of the Assumed Monthly Traded Shares by the
Investors (C below)
The table below shows the receipts from the ISA for each of the
months it was in effect.
One-month VWAP Percentage
as a percentage of Assumed
One Month of the Benchmark Monthly Traded Monthly Settlement
Month VWAP Price (B) Shares (C) (AxBxC)
September GBP0.0349 58.85% 57.57% GBP160,512.24
----------- ------------------ ---------------- -------------------
October GBP0.0282 47.61% 120.46% GBP271,710.55
----------- ------------------ ---------------- -------------------
November GBP0.0280 47.22% 76.50% GBP171,140.53
----------- ------------------ ---------------- -------------------
December GBP0.0250 42.16% 23.05% GBP46,040.18
----------- ------------------ ---------------- -------------------
Enquiries:
Anglo African Oil & Gas plc info@aaog.com
James Cane, Interim Chief Executive and
Finance Director
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
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