Energy News Today

Anglo African Oil & Gas PLC agrees divestment to become cash shell


How it’s doing

In late December, () reached an agreement to divest Zenith Energy to acquire its interest in the Tilapia project.

In June 2020, Anglo African entered into an unsecured convertible loan facility with Riverfort Global Opportunities for an amount of up to £1.5mln.

The first drawdown of £160,000 was advanced in June, with further drawdowns of £100,000 per month up to the agreed amount.

Each Drawdown is interest-free but attracts a 7% drawdown fee to be added to the principal amount outstanding and convertible on the same terms.

All drawdowns and fees associated shall be convertible into ordinary shares, it said.

Inflexion points

  • Looking for reverse takeover
  • Any reverse takeover transaction will transform business
  • Potential new management appointments

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is…

In exchange for publishing services rendered by the Company on behalf of Anglo African Oil & Gas PLC named herein, including the promotion by the Company of Anglo African Oil & Gas PLC in any Content on the Site, the…

FOR OUR FULL DISCLAIMER CLICK HERE



Read More: Anglo African Oil & Gas PLC agrees divestment to become cash shell

2020-07-15 13:00:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: