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Voting Results of Africa Oil Annual General Meeting

Nachrichtenquelle: Marketwired
19.04.2018, 23:30  |  258   |   |   

VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Africa Oil Corp. (“Africa Oil”, “AOC” or the “Company”) (TSX:AOI) (Nasdaq Stockholm:AOI) announces that all of the nominees proposed as directors and listed in its management proxy circular dated March 16, 2018 were elected as directors at its Annual General Meeting of Shareholders (the “Meeting”) held in Vancouver, British Columbia on April 19, 2018, the results being as follows:

Common shares represented at the Meeting: 172,236,081
Total outstanding Common Shares as at the record date: 470,567,619
Percentage of outstanding shares represented at the meeting: 36.6%

Fix the Number of Directors

Ordinary resolution fixing the number of directors of the Corporation to be elected at the Meeting at six (6).  Shareholders voted as follows:

Votes For % For Votes Against % Against
166,816,319 99.87% 220,807 0.13%

Election of Directors

Ordinary resolution approving the election of the following nominees of directors of the Corporation for the ensuing year or until their successors are elected or appointed.  Shareholders voted as follows:

Nominee Votes For % For Votes Withheld % Withheld
Keith C. Hill 165,852,663 99.29% 1,184,463 0.71%
John H. Craig 165,924,479 99.33% 1,112,647 0.67%
Gary S. Guidry 165,801,167 99.26% 1,235,959 0.74%
Bryan M. Benitz 166,516,822 99.69% 520,304 0.31%
Andrew D. Bartlett 166,442,657 99.64% 594,469 0.36%
Kimberley Wood 166,447,780 99.65% 589,346 0.35%

Appointment of Auditors

Ordinary resolution approving the appointment of PricewaterhouseCoopers LLP as Auditors of the Corporation for the ensuing year, and authorizing the directors of the Corporation to fix their remuneration.  Shareholders voted as follows:

Votes For % For Votes Withheld % Withheld
171,226,419 99.41% 1,009,662 0.59%

Say on Pay

Advisory resolution to accept the Corporation’s approach to executive compensation.  Shareholders voted as follows:

Votes For % For Votes Against % Against
165,273,614 98.94% 1,763,512 1.06%


About Africa Oil Corp.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol "AOI".

Additional Information
The information in this release is subject to the disclosure requirements of Africa Oil Corp. under the EU Market Abuse Regulation. The information was submitted for publication, by the person(s) below, on April 19, 2018 at 2:30 p.m. Vancouver Time.

Forward Looking Statements
Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

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