(RTTNews) - Africa Oil Corp. (AOI.TO) announced that the Toronto Stock Exchange has approved the company's proposed normal course issuer bid. Africa Oil is authorized to repurchase through the facilities of the TSX, Nasdaq Stockholm and/or alternative Canadian trading systems, up to 18,362,364 common shares of Africa Oil for a total maximum amount of C$35 million, which represents 5% of the company's public float. The purchases of shares will occur over a period of twelve months commencing December 6, 2024 and ending on the earlier of December 5, 2025.
Africa Oil has also entered into an automatic share purchase plan with the designated broker responsible for the NCIB to allow for the purchase of shares under the NCIB at times when Africa Oil would ordinarily not be permitted to purchase its shares due to regulatory restrictions and customary self-imposed blackout periods.
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