14 Mar 2006capital raising announcement● Neutral
Venoco's board granted Chief Accounting Officer Douglas Griggs options on 40,000 shares at $12.00 per share under the 2005 stock incentive plan, exempt from registration. This is the first award disclosed under the plan adopted in December 2005.
What it means for a shareholder
40,000 new shares at $12.00 to raise about $480,000. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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