AIM Rule 26
The following information is disclosed in accordance with Rule 26 of the AIM Rules.
Last updated on 22 June 2021
LEKOIL is an African focused oil and gas exploration and production company which currently holds interests in Nigeria. The Company was founded in 2010 by a group of leading professionals with extensive experience in the international upstream oil and gas industry as well as in global fund management and investment banking.
The Company entered into a farm out agreement, in Febrauary 2013, with Afren PLC to acquire an overall 30 per cent economic interest, including a 17.14 per cent participating interest, in OPL310, an offshore Nigerian asset located in the Dahomey-Benin Basin. OPL310 represents an early stage asset with significant potential and strong partners. The initial exploration well, Ogo-1, was spudded on the 23rd April 2013.
LEKOIL Limited is an exempted limited liability company incorporated and registered in the Cayman Islands on 3 December 2010 (Registration Number WK-248859). The Company’s principle subsidiary, LEKOIL Nigeria, was an incorporated under the laws of the Federal Republic of Nigeria (Registration Number RC 920325). The Group’s subsidiary, LEKOIL Namibia, was incorporated in Namibia in August 2011 (Registration Number RC 2011/0523). In addition, the Group has further subsidiary companies in Benin and the USA.
The Company was established on 3 December 2010. The Company acts as the holding company for the Group, which intends to use its access to potential oil and gas licence interests and its experienced management team, to build a multi-asset exploration, development and production business in Africa.
Since the Company is not incorporated in the UK and the rights of the shareholders may be different from the rights of shareholders in a UK incorporated company.
The company’s shares are not traded on any other exchange or trading platform and the AIM shares are freely transferable.
Please click here for details of the Company’s Board of Directors
The Audit Committee
The Audit Committee comprises of Anthony Hawkins, Tom Richardson, Al Tindall and Marco D’Attanasio. Mr. Tindall is an independent Non-Executive Director of the Company. The Audit Committee is chaired by Anthony Hawkins and shall meet not less than three times a year. The Audit Committee receives and reviews reports from management and from the Company’s auditors relating to the interim and annual accounts and to the internal control procedures in use throughout the Group. It is responsible for ensuring that the financial performance of the Group is properly reported with particular regard to legal requirements, accounting standards and the AIM Rules for Companies. This process includes reviews of annual and interim accounts; results announcements; risk and internal control systems; procedures; and accounting policies. The ultimate responsibility for reviewing and approving the annual report and accounts and the half-yearly reports remains with the Board.
The Remuneration Committee
The Remuneration Committee comprises of Anthony Hawkins, Tom Richardson, Al Tindall and Marco D’Attanasio. Mr. Tindall is an independent Non-Executive Director of the Company. The Remuneration Committee shall meet not less than twice a year. It is responsible for determining and reviewing the terms and conditions of service (including remuneration) and termination of employment of executive directors and senior employees and the grant of options implemented from time to time.
The Directors comply with Rule 21 of the AIM Rules relating to directors’ and applicable employees’ dealings in the Company’s securities. Accordingly, the Company has adopted the Share Dealing Code for directors and applicable employees and the Company will take all reasonable steps to ensure compliance by its directors and applicable employees with the provisions of the AIM Rules relating to dealings in securities.
Please click here for details of the Company’s Articles of Association
Please click here for a copy of the Company’s Admission Document
LEKOIL Limited shares are admitted to trading on AIM and it is not listed on any other exchanges or trading platforms. The Company was admitted to trading by the London Stock Exchange on 17 May 2013 under the ticker LEK.
Please click here for detail of our corporate governance
Pursuant to the terms of the AIM Rules published May 2014 and insofar as it is aware, at 30 October 2019, there are 536,529,983 ordinary shares in issue and 17.5% (70,143,943 ordinary shares) of the Company's AIM securities are not held in public hands.
Please click here to see our significant shareholders
There are no restrictions on the transfer of LEKOIL shares
Click here for LEKOIL Plc’s page on the AIM website
Tony Hawkins (Interim Executive Chairman)
Tom Richardson (Non-Executive Director)
Marco D'Attanasio (Non-Executive Director)
Alphonso Tindall (Non-Executive Director)
Intertrust Corporate Services (Cayman) Limited
190 Elgin Avenue
Grand Cayman KY1-9008
Principal place of business and business address of the Directors
Churchgate Tower 1, 9th Floor
PC 30 Churchgate Street
SP Angel Corporate Finance LLP
Prince Frederick House
35-39 Maddox Street
London W1S 2PP
SP Angel is an independent partnership providing creative, capital markets solutions to growing companies. SP Angel’s team combines individuals with extensive corporate finance, broking and advisory experience, gained across a wide range of sectors and transaction types. They serve as one of the Company’s joint brokers, providing sell-side research coverage and access to institutional investor distribution.
Solicitors to the Company as to English law
Norton Rose Fulbright LLP
3 More London Riverside
London SE1 2AQ
Norton Rose Fulbrightis a global law firm that provides the world’s preeminent corporations and financial institutions with a full business law service and act as Solicitors to the Company as to English law.
Solicitors to the Company as to Nigerian law
Banwo & Ighodalo
98 Awolowo Road
Banwo & Ighodalo is a top law firm in Nigeria known for providing innovate, competent, cost-effective and well-timed legal solutions and act as Solicitors to the Company as to Nigerian law.
Solicitors to the Company as to Namibian law
Ellis Shilengudwa Inc
24 Orban Street
PO Box 3300
Solicitors to the Company as to Cayman law
190 Elgin Avenue
Grand Cayman KY1-9001
Walkers is a leading international law firm that provides legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers, and act as Solicitors to the Company as to Cayman law.
Solicitors to the Company as to US law
Fulbright & Jaworski LLP (Norton Rose Fulbright)
666 Fifth Avenue
New York 10103-3198
Solicitors to the Nominated Adviser and Broker
Field Fisher Waterhouse LLP
35 Vine Street
London EC3N 2AA
Auditors to the Company
Deloitte & Touche Nigeria
Plot GA 1
Ozumba Mbadiwe Avenue
Deloitte & Touche Nigeria is the Deloitte Touche Tohmatsu Limited (DTTL) member firm in Nigeria and the oldest indigenous professional services firm in Nigeria, and they act as the Company’s Auditors.
Reporting Accountants to the Company
55 Baker Street
London W1U 7EU
BDO LLP provides Lekoil with accountancy and business advisory services.
Netherland, Sewell & Associates, Inc
4500 Thanksgiving Tower
1601 Elm Street Suite 4500
Netherland, Sewell & Associates, Inc is an oil and gas consulting firm providing independent reserve reports and services to the petroleum industry and financial community.
65 Gresham Street
London EC2V 7QN
Instinctif Partners is a leading corporate and financial communications consultancy, which advises public and private companies, organisations and governments.
Computershare Investor Services (Cayman Islands) Ltd
The R & H Trust Co Ltd
Regatta Office Park
West Bay Road
Grand Cayman KY1-1103
Computershare Investor Services (Cayman Islands) Ltd act as the Company’s registrars and share depositary services providers.
Computershare Investor Services PLC
Bristol BS99 6ZZ
38 Seymour Street
London W1H 7BP
h2glenfern limited act as the Company’s remunerations consultant.
The information available in this part of the website is disclosed solely for the purposes of and in accordance with the disclosure obligations required by rule 26 of the AIM Rules for Companies. The Company does not intend documents posted or referred to in this section of the website to be used for any purpose beyond fulfilling its obligations under Rule 26. Any such documents may contain information which has become out of date, and accordingly no reliance should be placed on the information or opinions contained in any such document or on its completeness and no undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its directors, officers, partners, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in any such document and no responsibility or liability is accepted by any of them for any such information or opinions.