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17 Oct 2008 13:10
17 October 2008
Bramlin Limited
("Bramlin" or the "Company")
Update on Discussions with Victoria Oil & Gas Plc
This morning the Board of Victoria Oil & Gas Plc (AIM:VOG) announced an update on the preliminary discussions with Bramlin Limited ("Bramlin")(AIM:BML) concerning a possible offer, which was announced by VOG on 24 September 2008.
The Boards of VOG and Bramlin have signed a non-binding Heads of Agreement ("HOA") covering an all share acquisition of Bramlin by VOG. The HOA reflects an offer proceeding by way of a Scheme of Arrangement, which will require the involvement of the Guernsey court and the approval of the shareholders of Bramlin.
The HOA is subject to legal and financial due diligence and include non-solicitation provisions. Kevin Foo is a director of both VOG and Bramlin and has taken no part in the negotiation of the HOA.
Fox-Davies Capital Limited has been engaged by Bramlin to act as a Rule 3 adviser under the Takeover Code.
For further enquiries, please contact:
Jim Ford / Alan Thomas
Bramlin Limited
Tel: +1 713 523 6336/ +44 (0)20 7960 9629
www.bramlin.com
Richard Hail / Nick Sellmer
Fox-Davies Capital Limited
Tel: +44 (0) 20 7936 5230
Thilo Hoffman / Mira Shukanayeva
Zimmermann Adams International Limited
Tel: +44 (0) 20 7060 1760
Jonathan Charles
Conduit PR Tel: + 44 (0) 20 7429 6611
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