5 Jul 2018 11:00
Victoria Oil & Gas PLC (AIM: VOG)
5 July 2018
Victoria Oil & Gas Plc
("VOG" or "the Company")
Issue of Shares in Lieu of cash payment to a supplier and bonus awards to employees
Victoria Oil & Gas Plc announces that a total of 5,386,729 new Ordinary Shares of 0.5p have been issued by the Company in respect of the following:
· a total of 4,814,815 Ordinary Shares to a supplier in lieu of cash payment to be subscribed at 29.97 pence per share, being the volume weighted average share price for five working days preceding 6 June 2018, the date of the settlement offer from the Group.
· a total of 571,914 Ordinary Shares for bonus awards made to certain employees of the Group for the year ended 31 December 2017. The bonus awards are subscribed at 29.97 pence per share, being the volume weighted average share price five working days preceding 6 June 2018. Directors were not granted bonus awards.
An application has been made to the London Stock Exchange for the admission of the new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to become effective and dealings in the new Ordinary Shares are expected to commence at 8.00 a.m. on 10 July 2018. Following Admission, the Company will have 150,446,457 Ordinary Shares in issue.
For further information, please visit www.victoriaoilandgas.com or contact:
Victoria Oil & Gas Plc
Kevin Foo / Ahmet Dik Tel: +44 (0) 20 7921 8820
Strand Hanson Limited (Nominated and Financial Adviser)
Rory Murphy / Angela Hallett / Ritchie Balmer Tel: +44 (0) 20 7409 3494
Shore Capital Stockbrokers Limited (Joint Broker)
Mark Percy / Toby Gibbs (corporate finance) Tel: +44 (0) 20 7408 4090
Jerry Keen (corporate broking)
FirstEnergy Capital LLP (Joint Broker)
Jonathan Wright / David van Erp Tel: +44 (0) 20 7448 0200
Camarco (Financial PR)
Billy Clegg Tel: +44 (0) 20 3757 4983
Nick Hennis Tel: +44 (0) 20 3781 8330
This announcement contains inside information.