Never a dull moment with VOG!6 Mar 2019 10:05
"This morning's announcement to raise up to £12.6 million in conjunction with the proposed Board changes is a new beginning for VOG.
The Fundraising will strengthen the Company's financial position and provide the necessary support for the new Board and Senior Management to take the Company to the next level.
Given the gas demand in the industrial city of Douala Cameroon, and the Company's strategic position of being the only onshore gas supplier and operator of the gas pipeline network, the Company can now look to develop its Matanda project and optimise its Logbaba operations with a view to becoming cashflow positive in the near term.
"Finally, a reduction of director salaries, which I welcome, is evidence of the new Board's focus to drive the Company to ensure Shareholder returns."