Africa Oil Corp: Africa Oil Announces Results of Share Buyback Program
VANCOUVER, BC, March 6, 2023 /CNW/ - (AOI-TSX, AOI-Nasdaq-Stockholm) - Africa Oil Corp. ("Africa Oil", or the "Company") is pleased to announce that the Company repurchased a total of 344,300 Africa Oil common shares during the period of February 27, 2023 to March 3, 2023 under the previously announced share buyback program.
The launch of Africa Oil's normal course issuer bid (share buyback) program, announced by the Company on September 22, 2022, 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.
During the period dated February 27, 2023 to March 3, 2023, the Company repurchased 144,300 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 200,000 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company.
All common shares repurchased by Africa Oil under the share buyback program will be cancelled. During the period dated February 27, 2023 to March 3, 2023, the Company cancelled 144,300 common shares repurchased under the share buyback program.
Since September 27, 2022, up to an including March 3, 2023, a total of 20,512,373 Africa Oil common shares have been repurchased under the share repurchase program through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems. A maximum of 40,482,356 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 September 27, 2022 and ending September 26, 2023, 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 1:30 p.m. ET on March 6, 2023.
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.
APPENDIX
During the period of February 27 to March 3, 2023, Africa Oil repurchased a total of 200,000 Africa Oil common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of Africa Oil.
Date and Time Quantity Price (SEK) Symbol Exchange ID
01/03/2023 17:09 7625 21.06 AOI XSTO
01/03/2023 17:09 1025 21.06 AOI XSTO
01/03/2023 17:09 1025 21.06 AOI XSTO
01/03/2023 17:09 1025 21.06 AOI XSTO
01/03/2023 17:09 1025 21.06 AOI XSTO
01/03/2023 17:09 102 21.06 AOI XSTO
01/03/2023 17:09 1025 21.06 AOI XSTO
01/03/2023 17:09 369 21.06 AOI XSTO
01/03/2023 17:09 475 21.06 AOI XSTO
01/03/2023 17:09 369 21.06 AOI XSTO
01/03/2023 17:07 180 21.06 AOI XSTO
01/03/2023 17:06 1 21.06 AOI XSTO
01/03/2023 17:06 225 21.06 AOI XSTO
01/03/2023 17:06 800 21.06 AOI XSTO
01/03/2023 17:04 1025 21.06 AOI XSTO
01/03/2023 17:04 35 21.06 AOI XSTO
01/03/2023 17:04 990 21.06 AOI XSTO
01/03/2023 17:04 629 21.06 AOI XSTO
01/03/2023 17:04 198 21.06 AOI XSTO
01/03/2023 17:04 827 21.06 AOI XSTO
01/03/2023 17:04 827 21.06 AOI XSTO
01/03/2023 17:04 198 21.06 AOI XSTO
01/03/2023 17:02 1568 21.1 AOI XSTO
01/03/2023 17:02 2600 21.1 AOI XSTO
01/03/2023 17:02 1000 21.1 AOI XSTO
01/03/2023 17:02 17 21.1 AOI XSTO
01/03/2023 17:02 6074 21.1 AOI XSTO
01/03/2023 17:00 333 21 AOI XSTO
01/03/2023 17:00 532 21 AOI XSTO
01/03/2023 17:00 1028 21 AOI XSTO
01/03/2023 16:59 95 21 AOI XSTO
01/03/2023 16:58 2777 21 AOI XSTO
01/03/2023 16:58 488 21 AOI XSTO
01/03/2023 16:58 500 21 AOI XSTO
01/03/2023 16:58 1000 21 AOI XSTO
01/03/2023 16:57 1291 21 AOI XSTO
01/03/2023 16:57 697 21 AOI XSTO
01/03/2023 13:47 980 20.8 AOI XSTO
01/03/2023 13:47 2179 20.8 AOI XSTO
01/03/2023 13:47 1550 20.8 AOI XSTO
01/03/2023 13:47 190 20.8 AOI XSTO
01/03/2023 13:47 1550 20.8 AOI XSTO
01/03/2023 13:47 79 20.8 AOI XSTO
01/03/2023 13:47 1471 20.8 AOI XSTO
01/03/2023 13:47 79 20.8 AOI XSTO
01/03/2023 13:47 1550 20.8 AOI XSTO
01/03/2023 13:47 940 20.8 AOI XSTO
01/03/2023 13:47 882 20.8 AOI XSTO
01/03/2023 13:47 2000 20.8 AOI XSTO
01/03/2023 13:39 1550 20.7 AOI XSTO
01/03/2023 12:58 8500 20.8 AOI XSTO
01/03/2023 12:58 1500 20.8 AOI XSTO
01/03/2023 12:08 229 20.92 AOI XSTO
01/03/2023 12:07 1 20.92 AOI XSTO
01/03/2023 12:07 21 20.92 AOI XSTO
01/03/2023 12:01 6999 20.92 AOI XSTO
01/03/2023 12:01 901 20.92 AOI XSTO
01/03/2023 11:46 124 20.92 AOI XSTO
01/03/2023 11:44 1025 20.92 AOI XSTO
01/03/2023 11:44 1025 20.92 AOI XSTO
01/03/2023 11:44 1025 20.92 AOI XSTO
01/03/2023 11:44 1025 20.92 AOI XSTO
01/03/2023 11:44 575 20.92 AOI XSTO
01/03/2023 11:44 450 20.92 AOI XSTO
01/03/2023 11:44 575 20.92 AOI XSTO
01/03/2023 11:44 1025 20.92 AOI XSTO
01/03/2023 09:03 18975 20.92 AOI XSTO
01/03/2023 09:03 1025 20.92 AOI XSTO
28/02/2023 17:19 10160 20.58 AOI XSTO
28/02/2023 17:00 10000 20.7 AOI XSTO
28/02/2023 16:59 6268 20.74 AOI XSTO
28/02/2023 16:59 1200 20.74 AOI XSTO
28/02/2023 16:59 1169 20.74 AOI XSTO
28/02/2023 16:59 863 20.74 AOI XSTO
28/02/2023 16:59 500 20.74 AOI XSTO
28/02/2023 15:33 767 19.29 AOI XSTO
28/02/2023 15:33 2340 19.29 AOI XSTO
28/02/2023 15:33 845 19.29 AOI XSTO
28/02/2023 15:33 180 19.29 AOI XSTO
28/02/2023 15:33 415 19.29 AOI XSTO
28/02/2023 15:33 305 19.29 AOI XSTO
28/02/2023 15:33 720 19.29 AOI XSTO
28/02/2023 15:33 2378 19.29 AOI XSTO
28/02/2023 15:33 1025 19.29 AOI XSTO
28/02/2023 15:33 1025 19.29 AOI XSTO
28/02/2023 13:35 1313 19.24 AOI XSTO
28/02/2023 13:35 100 19.24 AOI XSTO
28/02/2023 13:35 3507 19.23 AOI XSTO
28/02/2023 11:27 563 18.9 AOI XSTO
28/02/2023 11:27 667 18.9 AOI XSTO
28/02/2023 11:27 1230 18.9 AOI XSTO
28/02/2023 11:27 80 18.9 AOI XSTO
28/02/2023 11:27 1150 18.9 AOI XSTO
28/02/2023 11:27 1230 18.9 AOI XSTO
28/02/2023 10:27 9145 18.7 AOI XSTO
28/02/2023 10:27 855 18.7 AOI XSTO
28/02/2023 09:44 1130 18.89 AOI XSTO
28/02/2023 09:44 947 18.89 AOI XSTO
28/02/2023 09:44 940 18.89 AOI XSTO
28/02/2023 09:43 400 18.95 AOI XSTO
28/02/2023 09:43 1500 18.95 AOI XSTO
28/02/2023 09:43 1854 18.95 AOI XSTO
28/02/2023 09:43 171 18.95 AOI XSTO
28/02/2023 09:43 2025 18.95 AOI XSTO
28/02/2023 09:43 2025 18.95 AOI XSTO
28/02/2023 09:43 1625 18.95 AOI XSTO
28/02/2023 09:43 400 18.95 AOI XSTO
28/02/2023 09:11 4 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 9 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 9 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 1063 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 198 19.27 AOI XSTO
28/02/2023 09:11 77 19.27 AOI XSTO
28/02/2023 09:11 228 19.27 AOI XSTO
28/02/2023 09:11 3235 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 18 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:11 7 19.27 AOI XSTO
28/02/2023 09:11 305 19.27 AOI XSTO
28/02/2023 09:10 1349 19.5 AOI XSTO
28/02/2023 09:10 254 19.5 AOI XSTO
28/02/2023 09:10 1418 19.5 AOI XSTO
28/02/2023 09:10 348 19.5 AOI XSTO
28/02/2023 09:10 2591 19.5 AOI XSTO
28/02/2023 09:10 2020 19.5 AOI XSTO
28/02/2023 09:10 2020 19.5 AOI XSTO
28/02/2023 09:09 412 19.7 AOI XSTO
28/02/2023 09:09 150 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 1025 19.7 AOI XSTO
28/02/2023 09:09 463 19.7 AOI XSTO
28/02/2023 09:09 1800 19.7 AOI XSTO
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