Diversified Gas & Oil PLC Issue of Equity and Total Voting Rights (4092H)

TIDMDGOC

RNS Number : 4092H

Diversified Gas & Oil PLC

15 November 2018

15 November 2018

Diversified Gas & Oil PLC

(the "Company")

Issue of Equity and Total Voting Rights

Diversified Gas & Oil PLC (AIM: DGOC), the US based gas and oil producer, announced on 2 November 2017 the award of Restricted Stock Units ("RSUs") issued under the Company's equity incentive plan (the "Plan") to certain of the Company's senior management who have been instrumental in the successful integration of the Company's recently acquired assets. In accordance with the terms Plan 1/3rd of the RSU's have now vested and the Company has therefore issued and allotted an aggregate of 162,619 new ordinary shares of 1 pence each in the Company (the "RSU Shares") to the participants in the Plan.

The Company has also received notice of the exercise of warrants to subscribe for a total of 685,231 ordinary shares of 1 pence each (the "Warrant Shares") at a price of 65 pence per share. The warrants were issued to Smith & Williamson at the time of Company's admission to trading on AIM in January 2017.

Application has been made for the RSU Shares and the Warrant Shares (together the "New Shares") to be admitted to trading on AIM which is expected to occur on or around 21 November 2018. The New Shares rank pari passu in all respects with the Company's existing ordinary shares of 1 pence each ("Ordinary Shares").

Following the issue of the New Shares the Company will have 542,653,937 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 542,653,937 may be used by the Company's shareholders as the denominator in 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Eric Williams, the Company's Chief Financial Officer, is one of the participants in the Plan and accordingly he will receive 38,855 RSU Shares. Mr Williams' interest in the Company now comprises 38,855 Ordinary Shares, representing 0.01% of the Company's issued share capital, plus RSUs over a further 55,000 Ordinary Shares and share options over 1,750,000 Ordinary Shares.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

 
 Diversified Gas & Oil PLC 
  Rusty Hutson Jr., Chief Executive Officer 
  Bradley G. Gray, Chief Operating Officer 
  and Finance Director 
  Eric Williams, Chief Financial Officer 
  www.dgoc.com                                   + 1 [phone] 
 Smith & Williamson Corporate Finance Limited 
  (Nominated Adviser) 
  Russell Cook 
  Katy Birkin 
  Ben Jeynes                                     [phone] 
 Mirabaud Securities Limited 
  (Joint Broker) 
  Peter Krens 
  Edward Haig-Thomas                             [phone] 
 Stifel Nicolaus Europe Limited 
  (Joint Broker) 
  Callum Stewart 
  Nicholas Rhodes 
  Ashton Clanfield                               [phone] 
 Buchanan 
  (Financial Public Relations) 
  Ben Romney 
  Chris Judd 
  Henry Wilson 
  [e-mail]                            [phone] 
 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                      Eric Williams 
      ----------------------------------------  --------------------------------------- 
 2     Reason for the notification 
      --------------------------------------------------------------------------------- 
 a)    Position/status 
                                                   Chief Financial Officer/PDMR 
      ----------------------------------------  --------------------------------------- 
 b)    Initial notification/Amendment            Initial Notification 
      ----------------------------------------  --------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 a)    Name                                      Diversified Gas & Oil PLC 
      ----------------------------------------  --------------------------------------- 
 b)    LEI                                       213800YR9TFRVHPGOS67 
      ----------------------------------------  --------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      --------------------------------------------------------------------------------- 
 a)    Description of the financial              Restricted stock units constituting 
        instrument, type of instrument            a right to acquire ordinary 
                                                  shares of 1p each 
      ----------------------------------------  --------------------------------------- 
       Identification code                       GB00BYX7JT74 
      ----------------------------------------  --------------------------------------- 
 b)    Nature of the transaction                 Vesting of restricted stock 
                                                  units under the Company's equity 
                                                  incentive plan 
      ----------------------------------------  --------------------------------------- 
 c)    Price(s) and volumes(s)                   Price(s)             Volume(s) 
      ----------------------------------------  -------------------  ------------------ 
                                                               GBP0              38,855 
  -----------------------------------------------------------------  ------------------ 
 d)    Aggregated information                    N/A single transaction 
      ----------------------------------------  --------------------------------------- 
  Aggregated volume                         N/A single transaction 
 ----------------------------------------  -------------------------------------------- 
  Price                                     N/A single transaction 
 ----------------------------------------  -------------------------------------------- 
 e)    Date of the transaction                   14 November 2018 
      ----------------------------------------  --------------------------------------- 
 f)    Place of the transaction                  London Stock Exchange (XLON) 
      ----------------------------------------  --------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCEAAFLFEDPFAF

(END) Dow Jones Newswires

November 15, 2018 02:01 ET (07:01 GMT)