FOR IMMEDIATE RELEASE
Friday, May 30, 2014
Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Tokyo, Japan – May 30, 2014 – The Board of African Compass International Limited (“ACI” or the “Company”) are pleased to announce the completion of the sale of ACI Vienna JV onshore located Uzbekistan oil & gas interests previously announced through Twitter on Wednesday. The subsidiary of the buyer exercised its pre-emption rights, for a total after-tax consideration of an undisclosed sum comprising the sale of equity interests in certain holding entities and arrangements of inter-company debts.
ACI will use the proceeds to continue oil & gas space investments in Eurasia, South America and Africa as part of a Tripartite Plan, last year, approved by the Board to increase its global footprint in accredited geographies as a diversified natural resources company..
About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, South America and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.
Supporting Resources: please visit www.africancompassinternational.com; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.
For and on behalf of the Company’s Board
Julian RUPARE, Jr.
CEO & Chair
GLOSSARY OF TERMS:
The following are the main terms and abbreviations used in this webnews:
ACI African Compass International Limited and/or its subsidiaries, as appropriate
ACI Vienna African Compass International Investments and Holdings
Board Board of Directors
CEO Chief Executive Officer
CG Chief Geologist
CLO Chief Legal Officer
Company African Compass International or African Compass International Limited
COO Chief Operating Officer
JV Joint Venture
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African Compass International
Johannesburg | Harare | Vienna | Tokyo
Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO) V M S Correia (CG)
