Africa Oil Announces the Receipt of Prime Dividend
VANCOUVER, BC, November 30, 2021 /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”). Prime has distributed a US$100 million dividend with a net payment to Africa Oil of US$50 million related to its 50% shareholding. Since acquiring its 50% shareholding in Prime for a cash consideration of $520 million in January 2020, Africa Oil has received ten dividends from Prime for a total amount of $400 million, representing 77% of the cash