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Africa Oil Corp. T.AOI

Alternate Symbol(s):  AOIFF

Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery, offshore Namibia, and an exploration/appraisal portfolio in west and south of Africa. The Company holds its interests through direct ownership interests in concessions and through its shareholdings in investee companies, including Prime Oil & Gas Cooperatief U.A. (Prime); Impact Oil and Gas Limited (Impact); Africa Energy Corp. (Africa Energy), and Eco (Atlantic) Oil & Gas Limited (Eco). The Company is focused on its Nigerian assets, Namibian Orange Basin opportunity set (Blocks 2913B and 2912), Block 3B/4B in South Africa's Orange Basin, and Equatorial Guinean exploration blocks (EG-18 and EG-31). The Block 3B/4B covers an area of approximately 17,581 square kilometers (km2) within the Orange Basin offshore of the Republic of South Africa. The Company has approximately 17% interest in Block 3B/4B.


TSX:AOI - Post by User

Post by Malpeque2on Jul 22, 2022 2:30pm
171 Views
Post# 34844039

Only 82.25 M shares actually voted.

Only 82.25 M shares actually voted. Or 17.31% of all shares.    Of these 82.25M shares 66.56 are held by Stampede Natural Resources Sarl whom has a director already on the BOD of AOI.   2.372M shares are held by Non-Executive Directors,   and 1.67M shares are held by Keith "Down" Hill.   So the total of Insider shares who most likely were represented and voted for the Slate of Nominees were @ 70.6M shares.

That means ONLY  about 12m other shares by public shareholders were voted "FOR" these nominees and the pay plans and the option plans.    That is about 1.5% of the stock.  

IF a real independent slate is put forward by a shareholder or shareholder group at a special meeting called by 5% or more of the shareholders,   IMO,  this BOD is going to "cut and run" .    They will fold like a cheap suit.     There will be an avalanche of shares to vote FOR the new slate.    

My reasoning is that the shareholder base is "tired" of the same old smae old from this BOD and managment team and the apathy and lack of interest shows in the low voter turnout!
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