Reference is made to the announcement made by African
Petroleum Corporation Limited ("African Petroleum" or
the "Company") on 12 January 2017 regarding the
successful allocation of a private placement to
certain existing and new investors raising NOK
26,675,000 (approximately US$3.1 million) in gross
proceeds through the allocation of 10,670,000 new
ordinary shares at a subscription price of NOK 2.50
per share ("Private Placement").
On 13 January 2017 the Board of Directors of African
Petroleum issued 10,670,000 new shares (the "New
Shares") which were allocated in the Private
Placement. The New Shares will be delivered on a
delivery-versus-payment basis commencing today. The
New Shares have been issued in the VPS on the
Company's ordinary ISIN AU000000AOQ0. The New Shares
have been validly and legally issued as fully paid
shares in accordance with Australian law and the
Constitution of the Company. As a result of the share
capital increase, the Company has 117,388,447 shares
in issue. This figure may be used by shareholders in
the Company 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. The shares of the Company
have no par value. The New Shares will be delivered to
the investors in the Private Placement on a delivery-
versus-payment basis commencing today. The Company
will update the market once the settlement procedure
is completed.
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian
Securities Trading Act.
For further information, please contact:
Jens Pace, Chief Executive Officer
Stephen West, Chief Financial Officer
Tel: +44 20 3655 7810
Lead Manager:
Mirabaud Securities LLP
Peter Krens
Tel: +44 20 7878 3362
Media Contacts:
Buchanan
Ben Romney/Chris Judd
Tel: +44 207 466 5000
About African Petroleum
African Petroleum is an independent oil and gas
exploration company with an equity interest in eight
licences in four countries offshore West Africa
(Senegal, The Gambia, Côte d'Ivoire and Sierra Leone).
The Company's assets are located in proven hydrocarbon
basins in the West African Transform Margin and the
Atlantic Margin, where several discoveries have been
made in recent years. The Company is working with its
partner Ophir Energy (operator) on the CI-513 licence
in Côte d'Ivoire to drill an exploration well in Q2
2017.
For more information about African Petroleum, please
see www.africanpetroleum.com.au
This information is subject to disclosure requirements
pursuant to section 5-12 of the Norwegian Securities
Trading Act.