Sch 1 Update-Island Gas Resou

RNS Number:4540K
AIM
20 December 2007


 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR
                                             COMPANIES ("AIM RULES")

COMPANY NAME:
Island Gas Resources plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
7th Floor, Aldermary House, 10-15 Queen Street, London EC4N 1TX

COUNTRY OF INCORPORATION:
UK

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.islandgas.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS
INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
STATED:

Admission sought as a result of a reverse takeover of KP Renewables plc under Rule 14. Ongoing business of Island
Gas Resources is production and marketing of methane gas for industrial and domestic use from virgin coal seams
within UK onshore acreage.  Island Gas Resources' licences will be developed and operated by its joint venture
partner Nexen Exploration UK Limited, a subsidiary of Nexen Inc, a Toronto and New York Stock Exchange listed
global energy group.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where
known, number and type of shares, nominal value and issue price to which it seeks admission and the number and
type to be held as treasury shares):

59,107,182 Ordinary Shares of par value 50p

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission - NIL

Anticipated market capitalisation on Admission - £53.2 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
92.8 per cent.

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE
COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
NA
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known
or including any other name by which each is known):
Francis Robert Gugen - Executive Chairman

Andrew Philip Austin - Chief Executive Officer

Brent Cheshire - Technical Director

John Bryant - Non Executive Director

Peter Redmond - Non Executive Director

Richard James Armstrong - Non Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE
AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each
is known):
                                        Before Admission                                    Post Admission

Francis Robert Gugen                                  -                                           46.4%

Andrew Philip Austin                                  -                                           19.3%

Brent Cheshire                                        -                                           19.3%

Roger Smith                                           -                                           4.3%


Merchant House Group Plc                            5.9%                                          0.4%

Libertas Capital Ventures Limited                   5.9%                                          0.4%

David Newton                                        3.5%                                          0.2%

Ezenet Limited                                      3.5%                                          0.1%

Wolf Martinick                                      3.5%                                          0.3%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
NA
(i)                  ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)                DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED

(iii)               DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
(i)                  Dec 31

(ii)                30 June 2007

(iii)               30 June 2008, 30 September 2008, 30 June 2009

EXPECTED ADMISSION DATE:

31 December 2007

NAME AND ADDRESS OF NOMINATED ADVISER:

Libertas Capital Corporate Finance Limited, 16 Berkeley Street, London, W1J 8DZ, United Kingdom

NAME AND ADDRESS OF BROKER:

Libertas Capital Securities Limited, 16 Berkeley Street, London, W1J 8DZ, United Kingdom

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION
DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

Copies of the Admission Document will be available, during normal business hours, free of charge to the public at
the offices of Morrison & Foerster MNP, 7th Floor, City Point, One Ropemaker Street, London EC2Y 9AW, for at
least one month from the date of admission

DATE OF NOTIFICATION:

20 December 2007

NEW/ UPDATE:

Update




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