APPROVAL FROM THE COMPETITION AUTHORITY ON THE PROPOSED ACQUISITION OF 100% ISSUED SHARES IN HODGES MORUPULE MAURITIUS LIMITED

(A public company registered in the Republic of Mauritius – Company No. 111905 C1/GBL)

APPROVAL FROM THE COMPETITION AUTHORITY ON THE PROPOSED ACQUISITION OF 100% ISSUED SHARES IN HODGES MORUPULE MAURITIUS LIMITED

Further to the communique issued on 3 February 2017, the Board of Directors of Shumba Energy Ltd (“Shumba Energy” or the “Company”) is pleased to announce that pursuant to section 60(4)(a)(ii) of the Botswana Competition Act (Cap 46:09), the Competition Authority of Botswana (the “Authority”) has unconditionally approved the proposed acquisition by Shumba Energy of 100% issued shares in Hodges Morupule Mauritius Limited (“Hodges”) which in turn owns 75% of the Morupule South Project.

Shumba Energy and Hodges continue to pursue the expeditious resolution of the remaining regulatory requirements and shareholders will be kept updated accordingly.

 

By order of the Board

International Financial Services Limited

Company Secretary

31 May 2017

This Communiqué is issued pursuant to Section 87 of the Securities Act 2005, Rule 5 of the Securities (Disclosure Obligation of Reporting Issuers) Rules 2007 and DEM Rule 21.

The Board of Directors of the Company accepts full responsibility for the accuracy of the information contained in this Communiqué.

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