STOCK WATCH

SHARES in Victoria Oil & Gas dived after it said executive chairman Kevin Foo will leave when the firm completes a £12.6m fundraising.

The Cameroon-focused gas group will raise £6.5m by selling 50m new shares to YF Finance, its largest shareholder, and another £6.1m will be raised through a proposed share placing.

Foo, at the company since 2004, will be replaced by senior non-executive director Roger Kennedy. Shares fell 11.9pc, or 1.79p, to 13.25p.