Chandler Corporation Announces Acquisition of Shares of Africa Oil Corp

SINGAPORE, Oct. 29, 2013 /CNW Telbec/ - The Chandler Corporation announced today that Jasmine Capital Investments Pte. Ltd. ("Jasmine") has on 28 October 2013, acquired beneficial ownership of 6,905,000 common shares (the "Purchased Shares") of Africa Oil Corp. (the "Issuer") at a price of SEK 51.75 per Purchased Share, or approximately Cdn$8.53 per Purchased Share, based on the Bank of Canada's noon exchange rate on 28 October, 2013. The Purchased Shares were purchased pursuant to a brokered private placement (the "Offering").

The Purchased Shares represent approximately 2.23% of the issued and outstanding common shares of the Issuer (based on 309,470,323 issued and outstanding common, taking into account the common shares issued to investors pursuant to the Offering). As a result of this purchase, Jasmine's shareholding in the Issuer is now an aggregate of 31,866,828 common shares, which represents approximately 10.30% of the common shares of the Issuer that are issued and outstanding immediately following the Offering.

As a result of this acquisition and pursuant to applicable Canadian securities laws, each of Chandler Holdings Limited ("CHL"), CHL's sole shareholder, Chandler Corporation ("CC"), CC's sole shareholder, Athena Holdings Limited (in its capacity as trustee of the Chandler Group Trust, a discretionary trust) and CHL's direct wholly-owned subsidiary, Chandler Capital Pte. Limited ("CCPL") (which owns all of the shares of Jasmine), is deemed to beneficially own the Purchased Shares. CHL exercises control and direction over the Purchased Shares.

The Purchased Shares were acquired in the ordinary course of business for investment purposes. Jasmine, CCPL, CHL, CC and Athena Holdings Limited (in its capacity as trustee of the Chandler Group Trust, a discretionary trust) may, from time to time and at any time, subject to applicable securities laws, acquire additional common shares of the Issuer and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer in the open market or otherwise may dispose of any or all of its Securities in the open market or otherwise, at any time and from time to time, and engage in any hedging or similar transactions with respect to the Securities, in each case subject to applicable securities laws.

About the Chandler Corporation
The Chandler Corporation is an international investment group founded by New Zealand entrepreneur Richard F. Chandler. Since 1986, the Chandler Corporation has invested globally in public and private equity, across a range of industry sectors including, financial services, and healthcare. The Chandler Corporation distinguishes itself through its understanding of market cycles, value, and risk, bringing a long-term perspective to all of its investments. The Chandler Corporation also places a special emphasis on supporting corporate governance and responsible investment as crucial elements of business sustainability and increasing stakeholder value.

Further Information
A copy of the report prepared in connection with the matters disclosed herein in accordance with applicable Canadian securities laws will be available at www.sedar.com.
For more information, please visit: www.chandlergroup.com

SOURCE: Chandler Corporation

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Chandler Corporation
Telephone: +65 6210 5555
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