Investment update

RNS Number : 1776G

RiverFort Global Opportunities PLC

19 July 2019

 

19 July 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Investment update

The Company is pleased to announce that it is participating in the £5.7 million investor sharing agreement ("ISA") which forms part of a fundraising of up to £8.25 million announced by Anglo African Oil & Gas plc ("AAOG") on 17 July 2019. This fund raising also includes Miton Asset Management investing around £2.6 million in a placing of ordinary shares in AAOG. 

The structure of the ISA is such that 109,331,011 ordinary shares in AAOG, are issued to the ISA investors and the subscription monies payable for these shares are then paid back to these investors.  These monies will then be repaid to AAOG in 12 equal monthly instalments by the investors, subject to certain adjustments based on the performance of the AAOG share price and the trading of the shares by the investors.

The Company's involvement is through a participation certificate issued by RiverFort Global Opportunities PCC Limited rather than through a direct interest in the ISA.  This is a reference linked financial instrument that provides similar economic benefits to the holder as if they were co-investing directly in the underlying investment enabling the Company to participate in any gains realised through the ISA.

AAOG is an AIM-listed independent oil and gas company with a current market capitalisation of around £10 million, prior to the issue of new shares as part of the current fundraising.  It owns a 56% stake in the producing Tilapia oil field in the Republic of the Congo which is located in a prolific hydrocarbon region with significant exploration upside.

Phillip Haydn-Slater, Non-executive Chairman commented:

"This investment demonstrates our ability to invest in bespoke funding solutions for listed companies and we continue to experience demand for our investment capital."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information please contact:

RiverFort Global Opportunities plc		[phone]
Phillip Haydn-Slater, Non-executive Chairman
Nominated Adviser		[phone]
Beaumont Cornish
Roland Cornish/Felicity Geidt
Joint Broker		[phone]
Shard Capital Partners LLP
Damon Heath/ Erik Woolgar
Joint Broker		[phone]
Peterhouse Capital Limited
Lucy Williams

 

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