Eland Oil & Gas PLC Replacement: Transaction in Own Shares (5574Y)

TIDMELA

RNS Number : 5574Y

Eland Oil & Gas PLC

09 May 2019

09 May 2019

Eland Oil & Gas PLC

("Eland" or the "Company")

Transaction in Own Shares - Correction to disclosure released on 08 May 2019

Eland Oil & Gas PLC wishes to inform the market of a correction to the disclosure shown below. The Highest price paid per Ordinary Share should have been 122.0000, and not 121.0000 as previously quoted. The Lowest price paid per Ordinary Share should have been 121.0000, and not 122.0000 as previously quoted.

The below announcement has been corrected, and all other details remain the same.

Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that it has made the following redemptions pursuant to the share buyback programme (the "Programme") announced on 19 November 2018 and amended on 20 March 2019:

 
 Date of purchase:                         08 May 2019 
 Number of Ordinary Shares purchased:           21,779 
 Highest price paid per Ordinary Share:       122.0000 
 Lowest price paid per Ordinary Share:        121.0000 
 Volume weighted average price per 
  Ordinary Share:                             121.6887 
 

Following the repurchase of the shares set out above, the Company's issued share capital consists of 220,164,155 Ordinary Shares. 2,845,997 Ordinary shares are held in Treasury. For reporting under the FCA's Disclosure and Transparency Rules, Shareholders should exclude any shares held in Treasury and should use the figure of 217,318,158 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by the Company, which were all executed at the discretion of the Company's broker, Stifel Nicolaus Europe Limited, are set out below:

 
 Schedule of Purchases: 
 Shares purchased:   Eland Oil & Gas PLC (ISIN: GB00B8HHWX64) 
 Date of purchase:                                08 May 2019 
 
 
 Aggregate Information: 
 Aggregated volume                  21,779 
 Volume weighted average price    121.6887 
 Venue                                XLON 
 
 
 Individual Transactions: 
                                                 -------------------------- 
 Date of purchase   Time of purchase   Number of Ordinary   Price paid per 
                                        Shares purchased:    Ordinary Share 
                                                                  (p) 
                                                            --------------- 
    08/05/2019          12:37:40             5,000               122.0 
                    ----------------                        --------------- 
    08/05/2019          12:45:27             1,547               121.6 
                    ----------------                        --------------- 
    08/05/2019          13:18:10             3,072               121.6 
                    ----------------                        --------------- 
    08/05/2019          14:13:13              381                121.6 
                    ----------------                        --------------- 
    08/05/2019          15:59:10             2,266               121.8 
                    ----------------                        --------------- 
    08/05/2019          16:20:33              662                121.8 
                    ----------------                        --------------- 
    08/05/2019          16:20:33             2,072               121.8 
                    ----------------                        --------------- 
    08/05/2019          16:20:40             3,233               121.6 
                    ----------------                        --------------- 
    08/05/2019          16:28:07             1,767               121.6 
                    ----------------                        --------------- 
    08/05/2019          16:28:58              209                121.0 
                    ----------------                        --------------- 
    08/05/2019          16:29:39             1,567               121.0 
                    ----------------                        --------------- 
    08/05/2019          16:35:20               3                 121.0 
                    ----------------                        --------------- 
 
 

For further information:

Eland Oil & Gas PLC ([phone])

www.elandoilandgas.com

George Maxwell, CEO

Ronald Bain, CFO

Finlay Thomson, IR

Peel Hunt LLP, Nominated Adviser & Joint Broker ([phone])

Richard Crichton

David McKeown

Stifel Nicolaus Europe Limited, Joint Broker ([phone])

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

Camarco ([phone])

Billy Clegg

Georgia Edmonds

Tom Huddart

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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.

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May 09, 2019 09:25 ET (13:25 GMT)