more dillution!!!!!!!!!!!!!!!!!!!!!!!!!!!5 Aug 2019 08:09
what the chocolotola?
Grant of Options to Directors and employees
Victoria Oil & Gas Plc announces that further to the Company's circular to shareholders dated 11 March 2019, a long-term incentive programme ("LTIP") for Directors, management and employees has been adopted by the Board on 31 July 2019 ('Date of Grant"). As conveyed to the shareholder circular dated 11 March 2019, the Annual Report and Accounts to 31 December 2019, and in our Pre-AGM Trading Update dated 27 June 2019, the options programme has been implemented to enable us to reduce Executive and Non-Executive Directors fees and align the interests of all of our Directors and employees to those of our shareholders.
On the Date of Grant, options totalling 13 million Ordinary Shares (or 5.1% of issued share capital of the Company) have been granted at a price of 14p. All share options have exercise periods of 5 years following vesting dates. The share options have been granted to the Executive Directors and employees pursuant to the LTIP. Share options to the Non-Executive Directors have been granted as per individual Option Agreements.