London, December 16, 2024, (Oilandgaspress) ––– Africa Oil Corp. (“Africa Oil”, or the “Company”) is pleased to announce that the Company repurchased a total of 832,000 Africa Oil common shares during the period of December 9, 2024 to December 13, 2024 under the previously announced share buyback program. During this period, the Company repurchased 309,500 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 522,500 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company.
For more information regarding transactions under the previously announced share buyback program in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of December 9 to December 13, 2024, see the following link to Nasdaq Stockholm’s website:
https://www.nasdaq.com/european-market-activity/news/corporate-actions/repurchase-of-own-shares
All common shares repurchased by Africa Oil under the share buyback program will be cancelled.
Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2024, 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.
Since December 6, 2024, up to and including December 13, 2024, a total of 1,006,000 Africa Oil common shares were repurchased under the share repurchase program, through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems. A maximum of 18,362,364 Africa Oil common shares may be repurchased under the share buyback program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems over the period of twelve months commencing December 6, 2024 and ending December 5, 2025, or until such earlier date as the share repurchase program is completed or terminated by the Company.
Additional Information
This information is information that Africa Oil is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out above, at 02:00 a.m. EST on December 16, 2024.
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