Africa Energy Corp. (“Africa Energy” or the
“Company”) held its annual general and special meeting of shareholders in Vancouver, British
Columbia today (the “Meeting”), and all resolutions were passed.
Shareholders voted as follows on the matters before the meeting:
Election of Directors
Shareholders elected the following six (6) board members to serve on the Company’s board of directors
until the next annual meeting of shareholders or until their successors are elected or appointed:
Appointment of Auditors
Shareholders appointed MNP LLP as auditor of the Company for the upcoming year and authorized the
directors of the Company to fix the remuneration of the auditor with 99.81% of shares represented at the
meeting voting in favour.
Approval of Stock Option Plan
The Company’s incentive stock option plan was approved by shareholders with 98.87% of shares
represented at the meeting voting in favour.
Corporate Update
Subsequent to the Meeting, Africa Energy’s Chairman, Garrett Soden, resigned from the board in order to
comply with industry corporate governance guidelines regarding the maximum number of non-executive
director appointments per individual. The Company will seek a replacement for Mr. Soden and appoint a
new Chairman in due course.
Garrett Soden commented, “Africa Energy has exposure to a strategic asset in Block 11B/12B that should
play an important role in South Africa’s energy transition. I would like to thank all of my fellow
shareholders for their patience and continued support of the Company.”
Keith Hill, Non-Executive Director of Africa Energy, commented, “On behalf of the Board, I would like to
thank Garrett for serving as Chairman since June 2023 and, prior to that, as President and CEO since July
2017, closing several transactions for exploration assets offshore Southern Africa and delivering two large
discoveries with TotalEnergies on Block 11B/12B.”
