African Energy Readies Mmamabula West For SA’s IPP Programme
African Energy Resources Limited says its environmental consultants have completed the draft amendment of the Environmental and Social Impact Statement…
African Energy Resources Limited says its environmental consultants have completed the draft amendment of the Environmental and Social Impact Statement…
African Energy Resources Limited and First Quantum Minerals Limited (FQM) have executed a binding Shareholders Agreement for the Sese Joint…
African Energy Resources Limited has advised its shareholders that it has entered into a non‐binding Memorandum of Understanding (MOU) with…
African Energy Resources Limited (“African Energy”) advises that the Company’s board of directors has resolved to undertake a capital raising of approximately A$4.5 million through: A Placement to raise A$1.5 million, and A subsequent non‐renounceable entitlement offer to all eligible shareholders to raise up to A$3.0 million. The funds raised by the Placement and Rights Issue will allow the Company to advance it’s portfolio of coal and power projects in Botswana. Placement: The Placement will comprise an issue of approximately 17.3 million new shares at an issue price of 8.5 cents per share to raise approximately A$1.5 million before costs. The Placement is being made to professional and sophisticated investors, pursuant to section 708 of the Corporations Act 2001 (Cth) and in accordance with Listing Rule 7.1 of the ASX Listing Rules. The Company’s major shareholder, Sentient Executive GP IV, Limited (“Sentient”) has agreed to purchase 14.9 million shares in the Placement to take their ownership in the Company to 19.9%, further demonstrating their support for the Company and its coal and power projects in Botswana. Entities associated with Directors of the Company have agreed to purchase 2.4 million shares in the Placement. These shares will be issued subject to approval by shareholders at a General Meeting to be held in May. Non‐Renounceable Rights Issue:…
African Energy Resources Limited says it has entered into a binding letter of intent with Karoo Exploration Corp to sell…