Zenith Energy, the international oil & gas production company focused on African development opportunities, has confirmed that the resolution put before shareholders of AIM listed Anglo African Oil & Gas ('AAOG') at a general meeting held on May 4th to approve the sale to Zenith of a 100 per cent interest in its fully owned subsidiary in the Republic of the Congo, Anglo African Oil & Gas Congo ('AAOG Congo'), has been passed.
As announced on April 17, 2020, the Company 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 for a revised total consideration of £200,000.
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 held earlier today.
A further announcement will follow in due course.
Source: Zenith Energy