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The rest of the placing came from another unnamed investor, and AAOG on Friday said this party has reconfirmed its commitment to the investment.
Elsewhere, AAOG also said Friday that late in 2018 in identified some producing fields in North Africa for acquisition, which would have constituted a reverse takeover under AIM rules.
The company had considered a subscription by European High Growth for convertible bonds, and a term sheet was signed by European High Growth's manager, but in March AAOG decided not to go ahead with the acquisitions.
However, AAOG Chair David Sefton and Chief Executive James Berwick then proposed setting up a special purpose vehicle to buy the assets, at their own cost, and this vehicle would reimburse the GBP580,000 of costs AAOG had built up exploring the acquisition.
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