Merger Notification in connection with Ameeya Energy Ltd's acquisition of FHN Management SPV Ltd

This notification to the Federal Competition and Consumer Protection Commission (FCCPC) relates to the proposed acquisition by Ameyaa Energy Limited (the Acquirer) of the entire issued share capital of FHN Management SPV Limited (the Target) (the Merger) held by Mr. Obafemi Bajomo and Mr. Uchechukwugaeme Nwamara (the Sellers) (the Proposed Transaction). The Acquirer is incorporated and existing under the laws of Nigeria and is wholly owned by Ameyaa Energy Limited, Bahamas. The Acquirer seeks to acquire a strategic interest in OML 26 (the Asset) via the acquisition of the entire shareholding of the Target which holds an indirect 6.75% interest in the Asset. The Acquirer's strategic and economic rationale for the Merger is rooted in leveraging its robust track record, technical expertise, and capacity to facilitate investments aimed at enhancing asset growth for the collective benefit of all stakeholders and for the rapid development of the Asset. Attaining this objective is fundamental as it ultimately benefits the Nigerian economy through the increased revenues and efficiency in operations. Collectively, the Merger is also a testament to one of the primary objectives of the Petroleum Industry Act, 2021 which includes making the Nigerian oil and gas industry attractive to private sector-driven investment.