EFORA ENERGY LIMITED - Termination of Acquisition

Release Date: 02/01/2018 08:02
Code(s): EEL
Wrap Text
Termination of Acquisition

(Formerly SacOil Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)


Shareholders are referred to the announcements released by Efora on SENS
on 2 October 2017 and 5 October 2017 wherein the Company announced the
acquisition of the assets and operations as well as the assumption of
the liabilities of Belton Park Trading 134 Proprietary Limited for an
aggregate purchase consideration of R220 million subject to the
fulfilment of outstanding conditions precedent (“the Acquisition”).

Shareholders are hereby advised that certain outstanding conditions
precedent to the Acquisition were not fulfilled. Accordingly, the
Acquisition agreement has lapsed.

PSG Capital Proprietary Limited

2 January 2018

For further information please contact:
Efora Energy Limited
Damain Matroos
+27 (0)10 591 2260

Buchanan (Financial PR adviser)
Ben Romney / Chris Judd
+44 (0)20 7466 5000

About Efora
Efora Energy Limited is a South African based independent African oil
and gas company, listed on the JSE. The Company has a diverse portfolio
of assets spanning production in Egypt; exploration and appraisal in the
Democratic Republic of Congo; midstream project relating to crude
trading in Nigeria and material downstream distribution operations
throughout Southern Africa. Our focus as a Group is on delivering energy
for the African continent by using Africa’s own resources to meet the
significant growth in demand expected over the next decade.

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