Wednesday 17 July 2019

Anglo African Oil & Gas plc, an independent oil and gas developer, announced that it has completed a fundraising for up to £8.25m. The fundraising comprises:

- a placing of 49,288,347 ordinary shares of 5p each in the capital of the Company to Miton Asset Management at a price of 5.2p per Ordinary Share, a premium of 26.83 % to the prevailing share price on 16 July 2019, raising a total of £2,562,994.04; and

- the entry into an Investor Sharing Agreement between AAOG, YA II PN, Ltd ("YA II") and Riverfort Global Opportunities PCC Limited for a subscription of 109,331,011 Ordinary Shares at the Issue Price for a total commitment of £5,685,212.57.

The Company has applied for admission of the Placing Shares and the ISA Shares to trading on AIM ("Admission"). The Fundraising is conditional on Admission which is expected to become effective on 22 July 2019.

More information here.