Anglo African Oil & Gas PLC Notice of GM (1221J)

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: [phone] 
                                                     0500 
 Christopher Raggett, Giles Rolls, Anthony Adams 
  (Corporate Finance) 
 Camille Gochez (Corporate Broking) 
 
 St Brides Partners (Financial PR)                 Tel: [phone] 
                                                    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 [e-mail] or visit www.rns.com.

END

NOGEAKFEDDSPFFF

(END) Dow Jones Newswires

November 30, 2018 11:37 ET (16:37 GMT)