African Gold Acquisition Sponsor LLC 3
3 · African Gold Acquisition Corp · Filed Feb 25, 2021
Insider Transaction Report
Form 3
African Gold Acquisition Sponsor LLC
10% Owner
Holdings
Class B Ordinary Shares
→ Class A Ordinary Shares (10,350,000 underlying)
Footnotes (3)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-251939) under the heading "Description of Securities--Founder Shares", the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the issuer's initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like, and holders of Class A ordinary shares have certain anti-dilution rights.
- [F2]These shares represent Class B ordinary shares held by African Gold Acquisition Sponsor LLC (the "Sponsor"). The Class B ordinary shares owned by the reporting persons include up to 1,350,000 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the issuer's securities do not exercise in full their over-allotment option as described in the issuer's registration statement.
- [F3]The Sponsor is the record holder of the shares reported herein. Ulex Limited is the manager of the Sponsor. The board of directors of Ulex Limited has voting and investment discretion with respect to the Class B ordinary shares held of record by the Sponsor. Ulex Limited is beneficially owned by Dermot Desmond. Mr. Desmond disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.