Distribution of Circular and notice of General Meeting
EFORA ENERGY LIMITED
(Formerly SacOil Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
Share Code: EEL
(“Efora” or “the Company”)
DISTRIBUTION OF CIRCULAR AND NOTICE OF GENERAL MEETING
Shareholders are advised that the Company will be proposing a rights offer to raise funding to settle debt, provide capital to fund its operations and the funding of future acquisitions (“Rights Offer”).
Accordingly, the Company intends to increase its authorised share capital. To this extent the Company is proposing amendments to its memorandum of incorporation (“MOI”).
In addition, in anticipation of the additional shares that may be issued in terms of the Rights Offer, the Company is proposing the approval of a resolution in terms of section 41(3) of the Companies Act No. 71 of 2008, as amended (“the Act”).
Shareholders are hereby advised that the circular was distributed to shareholders today, 18 May 2018 (“the Circular”).
NOTICE OF GENERAL MEETING
Notice is hereby given that a general meeting of Efora shareholders will be held at 10:00 on Monday, 18 June 2018, at 12 Culross Road, Bryanston (“the General Meeting”), to consider and if deemed fit, approve the resolutions relating to the amendments to the Company’s MOI and the resolution in terms of section 41(3) of the Act as contained in the notice of General Meeting which forms part of the Circular.
The date on which shareholders must be recorded in the share register of the Company for purposes of being entitled to attend and vote at the General Meeting is Friday, 8 June 2018, with the last day to trade being Tuesday, 5 June 2018. The Circular incorporating the notice of the General Meeting is also available on the Company’s website: www.eforaenergy.com and can be viewed at its offices at 12 Culross Road, Bryanston, during office hours.
PSG Capital Proprietary Limited
18 May 2018
For further information please contact:
Efora Energy Limited
+27 (0)10 591 2260
Buchanan (Financial PR adviser)
Ben Romney / Chris Judd
+44 (0)20 7466 5000
Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; midstream project relating to crude trading in Nigeria and material downstream distribution operations throughout Southern Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.
IMPORTANT NOTICE TO SHAREHOLDERS REGARDING THEIR SHARES
If you are in any doubt as to what action you should take, consult your CSDP, Broker, Banker, Legal Adviser, Accountant or other professional advisers immediately.
Or visit our Shareholder Information page for more information regarding your shareholding and share certificate.