Coastal Africa Group, an investing company focused on acquiring and investing in the oil and gas sector, energy infrastructure, energy services and energy assets across West Africa, announces the admission of its ordinary shares of no par value each in the Company to trading on the AIM market of the London Stock Exchange. The Company's Ordinary Shares will commence trading at 8.00 a.m. today under the ticker symbol “CAGL”.

The Company has raised gross proceeds of approximately £17.36 million via the issue of 10,783,627 Ordinary Shares by the Company at a price of 161 pence per share. In addition, upon Admission, BP Oil has agreed to subscribe for £10 million of convertible loan notes, issued by the Company pursuant to a convertible loan note agreement dated 4 June 2026.

On Admission, Coastal will have 135,783,627 Ordinary Shares in issue with a market capitalisation of approximately £218.66 million at the Subscription Price. The Company is an investing company for the purposes of the AIM Rules. Coastal has been established with the ultimate objective of creating value for its investors through the acquisition and management of companies or assets in the energy sector.

The Company’s acquisition strategy will be primarily focused on the oil and gas sector (including upstream and midstream opportunities), energy infrastructure, energy services and energy assets in West Africa, though it may consider opportunities in other jurisdictions where the Directors believe there are opportunities to create shareholder value.

The Company does not currently own any trading businesses or operational assets and has not generated revenue to date. The Company has three subsidiaries, one of which is incorporated in a core target jurisdiction, and no subsidiary has traded to date. The Company expects to achieve its investment objectives and strategy and deliver capital appreciation by undertaking an acquisition, which will result in the Company becoming an operating company and its Investing Policy ceasing to apply.

Commenting, Peter Kimpel, Non-Executive Chairman of Coastal, said:
“Today marks an important milestone for Coastal as the Company commences trading on AIM and begins executing its strategy to identify and develop compelling energy opportunities across West Africa. The Company is now well-equipped to capitalise on the opportunities in the region, which continues to present a highly attractive environment for experienced operators capable of partnering constructively with governments, local stakeholders, and industry participants to unlock value from strategically important energy assets.”

Conrad Clauson, Chief Executive Officer of Coastal, added:
“We are pleased to complete our Admission to AIM which puts Coastal in a strong position to pursue its growth strategy. Our approach is founded on the integration of upstream, evacuation and marine capabilities, which we believe can enhance operational efficiency, reduce execution risk and support stronger asset economics. We see a significant opportunity across shallow-water West African projects and look forward to leveraging the experience of our team to progress opportunities capable of delivering attractive returns for shareholders while supporting broader regional development objectives.”

Coastal’s senior management team brings extensive global experience across the upstream and midstream oil and gas value chain, with a strong track record of delivering complex offshore developments, infrastructure-led projects, and asset monetisation strategies across multiple jurisdictions.

Members of the team have operated across key energy markets including Nigeria, Angola, Brazil, the North Sea, the Middle East, and Southeast Asia, with experience spanning Floating Production, Storage and Offloading units (FPSOs), Mobile Offshore Production Units (MOPUs), subsea infrastructure, and integrated gas-to-power solutions.

In Nigeria, members of the team have significant in-country execution experience, having worked across a broad portfolio of assets. This experience covers field development planning, production optimisation, evacuation solutions, and infrastructure integration.

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