Petroleum Africa
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Tuesday, May 5, 2020
Zenith Energy Ltd. has confirmed that the resolution put before shareholders of AIM-listed Anglo African Oil & Gas plc (AAOG) at a general meeting held May 4 to approve the sale to Zenith of a 100 percent interest in its fully owned subsidiary in the Republic of the Congo, Anglo African Oil & Gas Congo S.A.U (AAOG Congo), has been passed.
As announced on April 17, 2020, Zenith entered into a conditional deed of variation to vary the terms of a share purchase agreement with AAOG for the acquisition of a 100 per cent interest in AAOG Congo and related intercompany loans (the Acquisition) for a revised total consideration of £200,000 (Consideration).
Pursuant to the terms of the amended share purchase agreement, completion will take place within one business day of AAOG shareholder approval being obtained at the general meeting. A further announcement will follow in due course.
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