Great news8 Dec 2023 08:46
RULES")
COMPANY NAME:
Afentra plc ("Afentra" or the "Company")
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
Registered Office & Head Office:
High Holborn House
52-54 High Holborn
London
England
WC1V 6RL
COUNTRY OF INCORPORATION:
England and Wales
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
https://afentraplc.com/aim-rule-26/
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
Afentra, formerly Sterling Energy plc, was launched in 2021 to support the African energy transition as a responsible, well managed independent oil and gas company, assisting in the continued economic and social development of African economies through responsible management of their oil and gas assets and bridging the gap to renewable and other sustainable forms of energy. Afentra aims to access, redevelop and maximise the full potential of existing producing fields and undeveloped discoveries that no longer fit the portfolio of IOCs and host governments in a safe, responsible and sustainable manner.
The Company has acquired 14% interest in Block 3/05 and a 40% interest in Block 23 offshore Angola from Sonangol Pesquisa e Produção S.A. ("Sonangol") for an aggregate consideration, including maximum deferred consideration, of approximately US$91.0 million (the "Sonangol Acquisition")
In addition, the Company is in the process of acquiring a further 12% interest in Block 3/05 and a 16 interest in Block 3/05A offshore Angola from Azule Energy Angola Production B.V. for an aggregate consideration, including maximum deferred consideration, of approximately US$84.5 million (the "Azule Acquisition").
Pursuant to Rule 14 of the AIM Rules for Companies, the Sonangol Acquisition constitutes a reverse takeover and therefore admission is being sought as a result of such reverse take-over. Admission is not contingent on completion of the Azule Acquisition.
Afentra also has an interest in a high potential exploration project, onshore southwestern Somaliland. The Odewayne Block covers a very large area (circa 22,000km²), located adjacent to the border with Ethiopia. The PSA covers block SL6 and part of blocks SL7 and SL10.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
Number of ordinary shares of £0.1 each ("Ordinary Shares") for which Admission is being sought: 220,053,520
There are no restrictions as to the transferability of the Ordinary Shares.
No Ordinary Shares are or w
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