Africa Oil : ISS And Glass Lewis Support For Amalgamation Resolution To Consolidate Prime Ownership

(RTTNews) - Africa Oil Corp. (AOI.TO) said that proxy advisory firms Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have advised shareholders to vote "FOR" the Amalgamation Resolution.

The resolution seeks approval for the issuance of Common Shares to BTG Pactual Oil & Gas as part of the amalgamation of Africa Oil Papa Corp., a wholly owned subsidiary, and BTG Pactual Holding. The aim is to achieve full ownership of Prime Oil & Gas Cooperatief U.A. within Africa Oil.

All directors and officers of Africa Oil, along with the company's largest shareholder, have committed to voting their Common Shares in favor of the Amalgamation Resolution at the special meeting scheduled for October 15, 2024.