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Bonus Shares
Further to the approval by the shareholders of GHANA OIL COMPANY LIMITED (GOIL or the Company) at its Annual General Meeting (AGM) held on 25tH July, 2013, the Company is pleased to announce a Bonus Issue for its shareholders in a ratio of 0.2 new shares for every one (1) existing share held.
Qualifying Date
The qualifying date for the Bonus Issue has been set for Monday, 9th December, 2013. Only shareholders on the register of members of GOIL as at the close of business on Monday, 9th December, 2013 will be entitled to the bonus shares.
Closure of Register
Pursuant to section 34 of the Companies Code Act 1963 (Act 179) and regulation 40(b) of the Ghana Stock Exchange Listing Rules, the Register of Members of GOIL will be closed to the general public from Tuesday, 10th December, 2013 to Thursday, 12th December, 2013 (both dates inclusive).
Ex-Bonus Date
Consequently for the purposes of trading on the Exchange, the ex-bonus date is Thursday, 5th December, 2013. This means that investors buying GOIL shares on or after Thursday, 5th December, 2013 will not be entitled to the bonus shares. Those buying before this date will be entitled to the bonus shares.
Electronic (book entry) Certification
In line with the Exchange’s requirement, paper certificates will not be issued in respect of the bonus shares. Investors who have their shares in the GSE Depository will be automatically credited with the bonus shares due them on the application date. Paper certificates holders or investors who have not as yet put their GOIL shares in the GSE Depository are advised to visit any of the brokerage houses and use their certificates as well as the allotment letter for the bonus shares to deposit all existing and new (bonus) shares in a Depository account. Opening of a GSE Depository account is free of charge.
A reference price (reflecting the bonus issue) for GOIL Shares shall be set by the Exchange on Thursday, 5th December, 2013.
Issued in Accra, this 20th

day of November, 2013