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EFORA ENERGY LIMITED - Distribution of Circular and Notice of General Meeting

Release Date: 18/05/2018 13:58
Code(s): EEL     PDF:  
Wrap Text
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
ISIN:     ZAE000248258
(“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.

Sponsor
PSG Capital Proprietary Limited

18 May 2018

For further information please contact:

Efora Energy Limited
Damain Matroos
+27 (0)10 591 2260

Buchanan (Financial PR adviser)
Ben Romney / Chris Judd
+44 (0)20 7466 5000

About Efora

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.

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