Africa Oil Announces the Receipt of Prime Dividend
VANCOUVER, BC, March 28, 2022 /CNW/ - (AOI–TSX, AOI–Nasdaq-Stockholm) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) is pleased to announce that it has received a dividend from Prime Oil and Gas Cooperatief UA (“Prime”). The Company has a 50% shareholding in Prime.Prime has distributed a $200 million dividend with a net payment to Africa Oil of $100 million related to its shareholding. Since acquiring its 50% interest in Prime for a cash consideration of $520 million in January 2020, Africa Oil has received 11 dividends from Prime for a total amount of $500 million,