International Oil and Gas Tech Ltd Result of EGM (6431Q)

TIDMOGT

RNS Number : 6431Q

International Oil and Gas Tech Ltd

16 October 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

16 October 2013

INTERNATIONAL OIL AND GAS TECHNOLOGY LIMITED

RESULT OF EGM AND PLACING UPDATE

The Company announces that:

   --      The Resolutions were duly passed at the EGM held earlier today. 

-- The Board has allotted 707,228 Placing Shares, subject to Admission which is expected at 8 a.m. on 21 October 2013.

-- Applications for Admission have been made to the London Stock Exchange and the UK Listing Authority.

-- Following Admission, the Company will have 7,999,594 Shares in issue. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

FOR FURTHER INFORMATION

Numis Securities Limited

Nathan Brown

Tel: [phone]

NOTES TO EDITORS

International Oil and Gas Technology Limited ("IOGT") is an authorised closed-ended investment company incorporated in Guernsey. IOGT invests expansion capital into companies that provide services and technology to the upstream oil and gas industry. These companies have proprietary and proven technologies, services and/or processes that can be deployed more rapidly or on a larger scale through the introduction of growth capital. Such companies are likely to have recurring annual revenues of between US$5 million and US$25 million, positive EBITDA and/or significant working capital, and strong management teams. IOGT was admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange on 7 January 2008. Its stock market EPIC is OGT.L. Further information can be found at www.international-ogt.com.

Numis Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and for no one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Numis Securities Limited or for providing advice in relation to the Placing or any matter referred to in this Announcement.

DEFINITIONS

 
 "Admission"                    admission of the Placing Shares to the 
                                 Official List (by way of a standard listing 
                                 under Chapter 14 of the Listing Rules) 
                                 and to trading on the London Stock Exchange 
                                 becoming effective; 
 "Company"                      International Oil and Gas Technology Limited; 
 "Disclosure and Transparency   the FCA's Disclosure Rules and Transparency 
  Rules"                         Rules; 
 "EGM"                          the extraordinary general meeting held 
                                 at 10 a.m. on 16 October 2013; 
 "FCA"                          the UK Financial Conduct Authority; 
 "FSMA"                         the UK Financial Services and Markets Act 
                                 2000 (as may be amended from time to time); 
 "Listing Rules"                the listing rules of the UK Listing Authority; 
 "London Stock Exchange"        the London Stock Exchange plc; 
 "Official List"                the official list maintained by the UK 
                                 Listing Authority; 
 "Placing Shares"               participating redeemable preference shares 
                                 of US$1 each in the share capital of the 
                                 Company to be issued by the Company at 
                                 the Placing Price pursuant to the Placing; 
 "Resolutions"                  the resolutions to be proposed at the EGM 
                                 in connection with the Placing, notice 
                                 of which is set out in this document; 
 "Shareholder"                  a holder of Shares; 
 "Shares"                       the participating redeemable preference 
                                 shares of US$1 each in the share capital 
                                 of the Company and includes the Placing 
                                 Shares; 
 "UK Listing Authority"         the FCA, in its capacity as the competent 
                                 authority for the purpose of Part IX of 
                                 FSMA; 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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