Meren Energy updates Africa Energy shareholding

Meren Energy Inc (TSX:MER, STO:MER, OTCQX:MRNFF) said it is no longer subject to early warning reporting requirements for its stake in Africa Energy after Africa Energy completed a 47 million-share private placement. Meren sold 5 million Africa Energy shares in June, reducing its holding to 50.4 million shares, or 10.5%. The private placement increased Africa Energy’s shares outstanding, lowering Meren’s stake to 9.6%, below the 10% reporting threshold.