Victoria Oil & Gas PLC Result of Placing (1023S)
07 Marzo 2019 - 8:02AM
UK Regulatory
TIDMVOG
RNS Number : 1023S
Victoria Oil & Gas PLC
07 March 2019
7 March 2019
Victoria Oil & Gas Plc
("VOG" or the "Company")
Result of Placing
Capitalised terms used in this announcement (the "Announcement")
have the meanings given to them in the announcement made at 7.30
a.m. on 6 March 2019 regarding, inter alia, the proposed placing
(the "Placing Announcement"), unless the context provides
otherwise.
Victoria Oil & Gas Plc, the integrated natural gas producing
utility company in Cameroon, is pleased to announce that further to
the Placing Announcement released yesterday, the bookbuild has been
successful and is now closed. In order to satisfy demand from
investors, but without causing undue dilution to existing
Shareholders, the Company has, with YF Finance's approval,
increased the size of the Placing and the overall Fundraising while
YF Finance has agreed to reduce slightly the size of the
Subscription.
The Company has successfully placed 59,357,488 new Ordinary
Shares at an Issue Price of 13 pence per share, raising gross
proceeds of GBP7.72 million. Together with the reduced number of
45,000,000 Subscription Shares agreed to be subscribed for by YF
Finance, amounting to a subscription value of GBP5.85 million, the
Company has successfully conditionally raised gross proceeds of, in
aggregate, GBP13.57 million from the Fundraising.
The Placing was oversubscribed and was supported by existing as
well as new Shareholders and was conducted by way of an accelerated
bookbuild process. GMP FirstEnergy and Shore Capital acted as joint
bookrunners and brokers in relation to the Placing, whilst Strand
Hanson acted as Nominated & Financial Adviser, in relation to
the Fundraising.
The Fundraising is subject to the requisite shareholder approval
and, accordingly, the issue of the New Ordinary Shares is
conditional on, inter alia, the passing of the Resolutions by
Shareholders at the General Meeting expected to be held on 3 April
2019, notice of which, together with full details of the
Fundraising, will be set out in the Circular to be posted to
Shareholders shortly.
Admission to trading and total voting rights
Application will be made to the London Stock Exchange for the
admission of the New Ordinary Shares to trading on AIM. Subject to
Shareholder approval of the Resolutions at the General Meeting, it
is expected that Admission will occur and that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on or around 4 April
2019 at which time it is also expected that the New Ordinary Shares
will be enabled for settlement in CREST.
Following the issue of the New Ordinary Shares, the Company will
have 254,803,945 Ordinary Shares in issue and there are no shares
held in treasury. Accordingly, this figure will be the total number
of voting rights in the Company and may be used by Shareholders as
the denominator for the calculations by which they determine if
they are required to notify their interest in, or change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Upon completion of the Fundraising, the Subscriber will hold
approximately 22.0 per cent. of the Company's ordinary share
capital, as enlarged by the Fundraising.
Ahmet Dik, CEO of VOG, commented:
"We are very pleased with the results of the Fundraising and
would like to thank our investors for their participation. The
capital raised will allow VOG to significantly strengthen its
financial position whilst allowing management to focus on the
development and expansion of its operations and customer base in
Cameroon."
For further information, please visit www.victoriaoilandgas.com
or contact:
Victoria Oil & Gas Plc
Ahmet Dik - Chief Executive Officer Tel: +44 (0) 20 7921
8820
Andrew Diamond - Finance Director
Strand Hanson Limited (Nominated & Financial Adviser)
Rory Murphy / Ritchie Balmer / Jack Botros Tel: +44 (0) 20 7409
3494
Shore Capital Stockbrokers Limited (Joint Broker)
Mark Percy / Toby Gibbs (corporate finance) Tel: +44 (0) 207 408
4090
Jerry Keen (corporate broking)
GMP FirstEnergy (Joint Broker)
Jonathan Wright / Hugh Sanderson Tel: +44 (0) 207 448 0200
Camarco (Financial PR)
Billy Clegg Tel: +44 (0) 203 757 4983
Nick Hennis Tel: +44 (0) 203 781 8330
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IOEMMGGFGNKGLZG
(END) Dow Jones Newswires
March 07, 2019 02:02 ET (07:02 GMT)
Grafico Azioni Victoria Oil & Gas (LSE:VOG)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Victoria Oil & Gas (LSE:VOG)
Storico
Da Apr 2023 a Apr 2024