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16 Dec 2015 16:53
Victoria Oil & Gas PLC (AIM:VOG)
16 December 2015
Victoria Oil & Gas Plc
("VOG" or "the Company")
Directors' Shareholdings
Victoria Oil & Gas Plc, announces that on 8 December 2015, it received notification that H J Resources Ltd has exercised options over 1,506,812 ordinary shares of 0.5p each in the capital of the Company ("Ordinary Shares") that were granted between 2006 and 2011 by the Victoria Oil & Gas ESOP Trust ("Trust"). Mr Kevin Foo, Executive Chairman of the Company and members of his family are potential beneficiaries of a discretionary trust that owns H J Resources Ltd. The Trust has not subscribed for any new Ordinary Shares in the Company in order to settle this exercise.
Accordingly, following this exercise, Mr Foo is now interested in 2,232,638 ordinary shares representing approximately 2.04% of the Company's issued share capital.
For further information, please visit www.victoriaoilandgas.com or contact:
Victoria Oil & Gas Plc
Kevin Foo / Laurence Read Tel: +44 (0) 20 7921 8820
Numis Securities
John Prior / Ben Stoop Tel: +44 (0) 207 260 1000
Strand Hanson Limited
Angela Hallett / Stuart Faulkner Tel: +44 (0) 20 7409 3494
Bell Pottinger
Daniel Thole / Charles Stewart / Joanna Boon Tel: +44 (0) 20 3 772 2499
The table below sets out a summary of all options that have been granted to Directors and former Directors by the Trust, which have not previously been disclosed, and options which have subsequently been exercised, since the Trust's inception in 2006:
Director/Company | Date of Grant | Exercise Price | Options granted over Ordinary Shares* | Options exercised | Outstanding Options over Ordinary Shares | Outstanding Options over Deferred Shares** |
H J Resources Ltd | 26-Apr-06 | 0.5p | 19,312 | 19,312 | - | - |
H J Resources Ltd | 09-Jan-08 | 0.5p | 43,750 | 43,750 | - | - |
H J Resources Ltd | 04-Apr-08 | 0.5p | 43,750 | 43,750 | - | - |
H J Resources Ltd | 20-Nov-09 | 0.5p | 150,000 | 150,000 | - | - |
H J Resources Ltd | 14-Jan-11 | 0.5p | 625,000 | 625,000 | - | - |
H J Resources Ltd | 25-Nov-11 | 0.5p | 625,000 | 625,000 | - | - |
Kevin Foo | 08-Mar-13 | 0.5p | 500,000 | - | 500,000 | 500,000 |
Total HJ Resources/ Kevin Foo | 2,006,812 | 1,506,812 | 500,000 | 500,000 | ||
Grant Manheim | 26-Apr-06 | 0.5p | 19,312 | 19,312 | - | - |
09-Jan-08 | 0.5p | 25,000 | 25,000 | - | - | |
04-Apr-08 | 0.5p | 37,500 | 37,500 | - | - | |
20-Nov-09 | 0.5p | 75,000 | 57,500 | 17,500 | 17,500 | |
14-Jan-11 | 0.5p | 87,500 | - | 87,500 | 87,500 | |
25-Nov-11 | 0.5p | 125,000 | - | 125,000 | 125,000 | |
08-Mar-13 | 0.5p | 100,000 | - | 100,000 | 100,000 | |
Total Grant Manheim | 469,312 | 139,312 | 330,000 | 330,000 | ||
Robert Palmer | 26-Apr-06 | 0.5p | 19,312 | - | 19,312 | 19,312 |
09-Jan-08 | 0.5p | 25,000 | - | 25,000 | 25,000 | |
04-Apr-08 | 0.5p | 37,500 | - | 37,500 | 37,500 | |
20-Nov-09 | 0.5p | 75,000 | - | 75,000 | 75,000 | |
14-Jan-11 | 0.5p | 87,500 | - | 87,500 | 87,500 | |
25-Nov-11 | 0.5p | 125,000 | - | 125,000 | 125,000 | |
08-Mar-13 | 0.5p | 100,000 | - | 100,000 | 100,000 | |
Total Robert Palmer | 469,312 | - | 469,312 | 469,312 | ||
Former Directors | 09-Jan-08 | 0.5p | 25,000 | 25,000 | - | - |
04-Apr-08 | 0.5p | 25,000 | 25,000 | - | - | |
20-Nov-09 | 0.5p | 100,000 | 100,000 | - | - | |
20-Nov-09 | 0.5p | 25,000 | 25,000 | - | - | |
20-Nov-09 | 0.5p | 12,500 | 12,500 | - | - | |
14-Jan-11 | 0.5p | 87,500 | 87,500 | - | - | |
14-Jan-11 | 0.5p | 175,000 | 175,000 | - | - | |
25-Nov-11 | 0.5p | 125,000 | 125,000 | - | - | |
25-Nov-11 | 0.5p | 175,000 | 175,000 | - | - | |
08-Mar-13 | 0.5p | 250,000 | 250,000 | - | - | |
Total Former Directors | 1,000,000 | 1,000,000 | - | - | ||
Total | 3,945,436 | 2,646,124 | 1,299,312 | 1,299,312 |
* represents the number of options post the consolidation completed in November 2014.
** the options over deferred shares were created as a result of the consolidation and have an exercise price of 19.5p. As set out in the circular to shareholders dated 31 October 2014, the deferred shares have very limited rights and are therefore of negligble value.
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