ReconAfrica Announces Adoption of Shareholder Rights Plan

Core Viewpoint - Reconnaissance Energy Africa Ltd. has adopted a Shareholder Rights Plan to protect its shareholders and provide time to evaluate any unsolicited takeover bids in the future [2][3]. Group 1: Shareholder Rights Plan - The Shareholder Rights Plan is designed to give the Board and shareholders adequate time to assess unsolicited offers and explore alternatives that enhance value [2]. - The plan has been conditionally accepted by the TSX Venture Exchange and requires ratification by shareholders at the upcoming Annual General Meeting scheduled for February 19, 2026 [3]. - If ratified, the Shareholder Rights Plan will remain in effect for three years from the date of formal approval [3]. Group 2: Company Overview - ReconAfrica is a Canadian oil and gas company focused on exploring the Damara Fold Belt and Kavango Rift Basin in northeastern Namibia, southeastern Angola, and northwestern Botswana, holding approximately 13 million contiguous acres of petroleum licenses [4]. - The company also operates in the Ngulu block located in shallow waters offshore Gabon [4]. - ReconAfrica is committed to minimizing habitat disturbance and adhering to international environmental and social best practices in its operations [4].