Victoria Oil & Gas Plc, whose wholly owned subsidiary, Gaz du Cameroun S.A. (GDC), the onshore gas producer and distributor with operations located in the port city of Douala, Cameroon, recently announced that it has entered into a definitive financing agreement with Meridian Capital (HK) Limited (Meridian) to raise maximum gross proceeds of US$7.5 million through the issue of unsecured loan notes (the Facility). (Logo quoted from Yahoo’s image)

The proceeds of the Facility will be utilised for general working capital purposes, including long lead Items for the proposed well on the Matanda licence. 

Meridian (owned equally by Askar Alshinbayev and Yevgeniy Feld) is an associate of Askar Alshinbayev and YF Finance Limited (a company controlled by Mr Alshinbayev) and they are all deemed to be acting in concert as defined in the Code (collectively, the Concert Party).  

The Concert Party holds 60,913,330 ordinary shares of £0.005 in the Company's share capital (Ordinary Shares), representing 23.7 percent of the issued share capital of the Company.

 (IRuniverse)