Africa Oil Corp. (“Africa Oil”, or the “Company”) notes the announcement by its investee company, Impact Oil & Gas Limited (“Impact”), regarding the approval of a dividend of approximately USD 80 million to Impact’s shareholders. This dividend represents USD 0.0702 per ordinary share and will be paid from January 29, 2025, to shareholders on Impact’s register at the close of business on January 20, 2025.
The dividend payment net to Africa Oil’s shareholding of approximately 39.5% (449,464,396 Impact shares) is approximately USD 31.6 million.
Impact Board’s approval for the dividend distribution follows receipt of the associated cash payment of USD 99 million from TotalEnergies following completion, in November 2024, of the farm down transaction relating to Blocks 2912 and 2913B, offshore Namibia.
