Africa Oil Corp. (TSX: AOI) Announces Repurchase of 416,700 Common Shares Under Buyback Program

2 min read | December 31, 2024 12:10 AM AEDT | By Team Kalkine Media

Google News:

Africa Oil Corp. (TSX: AOI) Announces Repurchase of 416,700 Common Shares Under Buyback Program — Image source: Shutterstock

Recent News

ASX Growth Stocks 2026 AI Tech Rebound Update

CSL ASX Healthcare Outlook 2026: Growth Reset Underway

Why These Heavily Shorted ASX Shares Are Staying in Focus

Why Materials Stocks Powered Ahead While Energy Lagged on the ASX

Make Kalkine Media
My Trusted Source

Highlights

Africa Oil repurchases 416,700 common shares during December 23-27, 2024.

A total of 2,308,100 shares repurchased since the program began on December 6, 2024.

Repurchased shares will be cancelled, reducing the company's outstanding shares.

Africa Oil Corp. (TSX: AOI; Nasdaq-Stockholm: AOI) is pleased to announce that the Company has repurchased a total of 416,700 of its common shares during the period from December 23 to December 27, 2024, as part of its previously announced share buyback program. The repurchases were conducted on both the Toronto Stock Exchange (TSX) and Nasdaq Stockholm.

During this period, 196,700 Africa Oil common shares were repurchased on the TSX and/or other Canadian trading platforms, facilitated by Scotia Capital Inc. on behalf of the Company. In addition, 220,000 shares were repurchased on Nasdaq Stockholm, with Pareto Securities acting as the Company’s agent.

These repurchases are part of Africa Oil’s broader share repurchase initiative, which was launched on December 4, 2024. Under the buyback program, the Company is authorized to repurchase up to 18,362,364 common shares over a 12-month period, ending on December 5, 2025. The repurchased shares will be cancelled, which is expected to reduce the overall number of outstanding shares, potentially enhancing shareholder value.

Since the start of the program on December 6, 2024, and through to December 27, 2024, Africa Oil has repurchased a total of 2,308,100 shares. The Company continues to carry out these repurchases in compliance with the Market Abuse Regulation (EU) No 596/2014, Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation), as well as the applicable rules of the TSX, Nasdaq Stockholm, and relevant Canadian and Swedish securities laws.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.