Viva Energy Group (ASX:VEA) said 25.3 million ordinary shares issued on March 28, 2024, to SEPL, will be released from voluntary escrow on March 28, according to a Friday Australian bourse filing.
The shares were part consideration for the acquisition of the OTR Group and were subject to a voluntary escrow for a period of 12 months from completion.
A further 25.3 ordinary shares issued to SEPL in connection with the acquisition remain voluntarily escrowed for a further 12 months until March 28, 2026.
SEPL is an entity associated with Yasser Shahin, and Shahin informed the firm that he has no present intention of divesting the shares coming out of escrow. Shahin now holds around 62 million shares, representing 3.9% of the firm's issued capital.
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