Victoria Oil & Gas Plc announces that a total of 1,354,116 new ordinary shares of 0.5p each in the Company (“Ordinary Shares”) have been issued in respect of the following:
- a total of 961,546 Ordinary Shares for bonus awards made to certain employees of the Group for the year ended 31 December 2018 at an issue price of 13 pence per share. The Directors of the Company were not granted bonus awards;
- 152,088 Ordinary Shares in lieu of cash payment to a former consultant at an issue price of 22.84 pence per share as per the contract terms; and
- 240,482 Ordinary Shares to Kevin Foo, a former Director, pursuant to the exercise of options at nil cost as per the terms of the option agreements.
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 June 2019. Following Admission, the Company will have 256,428,061 Ordinary Shares in issue.
With effect from Admission, the figure of 256,428,061 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure Guidance and Transparency Rules. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue.
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