VANCOUVER, BC, March 4,
2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm:
AOI) – Africa Oil Corp. ("Africa Oil", or the
"Company") is pleased to announce that its Board of Directors has
declared the distribution of the Company's semi-annual cash
dividend of US$0.025 per common
share. This dividend will be payable on March 28, 2024, to shareholders of record at the
close of business on March 8, 2024.
This dividend qualifies as an 'eligible dividend' for
Canadian income tax purposes. View PDF version
Dividends for shares traded on the Toronto Stock Exchange
("TSX") will be paid in Canadian dollars on March 28, 2024; however, all US and foreign
shareholders will receive USD funds. Dividends for shares traded on
Nasdaq Stockholm will be paid in Swedish kronor in accordance with
Euroclear principles on April 4,
2024.
To execute the payment of the dividend, a temporary
administrative cross border transfer closure will be applied by
Euroclear from March 6, 2024, up to
and including March 8, 2024, during
which period shares of the Company cannot be transferred between
the TSX and Nasdaq Stockholm.
Payment to shareholders who are not residents of Canada will be net of any Canadian withholding
taxes that may be applicable. For further details, please visit:
https://africaoilcorp.com/investors/dividend-information/
The Company's Annual General Meeting is planned to be held on
May 23, 2024.
About Africa Oil
Africa Oil Corp. is a Canadian oil and gas company with
producing and development assets in deepwater Nigeria and an exploration/appraisal portfolio
in west and south of Africa, as
well as Guyana. The Company is
listed on the Toronto Stock Exchange and on Nasdaq Stockholm under
the symbol "AOI".
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 05:00 p.m. EST on March 4,
2024.
Forward Looking Information
Certain statements and information contained herein constitute
"forward-looking information" (within the meaning of applicable
Canadian securities legislation), including whether the Company
continues with an Normal Course Issuer Bid share buyback program.
Such statements and information (together, "forward looking
statements") relate to future events or the Company's future
performance, business prospects or opportunities.
All statements other than statements of historical fact may be
forward-looking statements. Statements concerning proven and
probable reserves and resource estimates may also be deemed to
constitute forward-looking statements and reflect conclusions that
are based on certain assumptions that the reserves and resources
can be economically exploited. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or
phrases such as "seek", "anticipate", "plan", "continue",
"estimate", "expect, "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should",
"believe" and similar expressions) are not statements of historical
fact and may be "forward-looking statements". Forward-looking
statements involve known and unknown risks, ongoing uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements, including statements pertaining to dividend
distributions, share repurchase programs, the 2022 Management
Guidance including production, cashflow from operation and capital
investment estimates, performance of commodity hedges, the results,
schedules and costs of exploratory drilling activity, uninsured
risks, regulatory and fiscal changes, availability of materials and
equipment, unanticipated environmental impacts on operations,
duration of the drilling program, availability of third party
service providers and defects in title. No assurance can be given
that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required by
applicable laws. These forward-looking statements involve risks and
uncertainties relating to, among other things, changes in
macro-economic conditions and their impact on operations, changes
in oil prices, reservoir and production facility performance,
hedging counterparty contractual performance, results of
exploration and development activities, cost overruns, uninsured
risks, regulatory and fiscal changes, defects in title, claims and
legal proceedings, availability of materials and equipment,
availability of skilled personnel, timeliness of government or
other regulatory approvals, actual performance of facilities, joint
venture partner underperformance, availability of financing on
reasonable terms, availability of third party service providers,
equipment and processes relative to specifications and expectations
and unanticipated environmental, health and safety impacts on
operations. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE Africa Oil Corp.