Igas Energy PLC Additional Listing / PDMR Shareholding (0069M)

TIDMIGAS

RNS Number : 0069M

Igas Energy PLC

25 April 2018

25 April 2018

IGas Energy plc ("IGas" or the "Company")

Additional Listing Director/PDMR Shareholding

The Company announces that an application has been made to the London Stock Exchange for a total of 55,279 Ordinary Shares of 0.002p each (the "SIP Shares") to trade on the AIM market of London Stock Exchange ("AIM") under the IGas Energy plc Share Incentive Plan ("SIP"). Subject to admission, the SIP Shares will be held by Equiniti Share Plan Trustees Limited (the "SIP Trustees").

The number of shares to be issued under the SIP has been calculated with reference to the mid-market closing price of 81.80p on 20 April 2018, in accordance with the rules of the SIP. The SIP Shares shall rank equally with the existing issued shares of the Company. It is expected that admission to AIM will become effective on or around 30 April 2018.

Details of the subscription and allocation under the SIP by Persons Discharging Managerial Responsibility ("PDMR") for the quarter are set out below.

 
 PDMR              Share subscription   Matching      Resulting        Total Resulting 
                    under the            Allocation    Voting Rights    Voting Rights 
                    SIP                                                 (%) 
----------------  -------------------  ------------  ---------------  ---------------- 
 Stephen 
  Bowler           550                  1,100         1,650            0.05% 
----------------  -------------------  ------------  ---------------  ---------------- 
 John Blaymires    550                  1,100         1,650            0.04% 
----------------  -------------------  ------------  ---------------  ---------------- 
 Julian 
  Tedder           550                  1,100         1,650            0.10% 
----------------  -------------------  ------------  ---------------  ---------------- 
 

The issued share capital of the Company following the above detailed issue of shares will be 122,005,593 Ordinary Shares; the number of deferred shares remains 303,305,534. The total number of voting rights in IGas will be 122,005,593 Ordinary Shares, which should 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 IGas under the Financial Conduct Authority's Disclosure and Transparency Rules.

Further details on the SIP are set out in the appendix to this announcement.

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 
1.  Details of PDMR / person closely associated 
    ==================================================================== 
a)  Name                             (i) Stephen Bowler 
                                      (ii) John Blaymires 
                                      (iii) Julian Tedder 
    =========================  ========================================= 
2.  Reason for the notification 
    ==================================================================== 
a)  Position                         (i) Chief Executive Officer 
     / status                         (ii) Chief Operating Officer 
                                      (iii) Chief Financial Officer 
    =========================  ========================================= 
b)  Initial                    Initial notification 
     notification 
     /amendment 
    =========================  ========================================= 
3.  Details of the issuer 
    ==================================================================== 
a)  Name                       IGas Energy plc 
    =========================  ========================================= 
b)  LEI                        213800S8WP2L294NR559 
    =========================  ========================================= 
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                Ordinary Shares of 0.002p each 
     of the 
     financial 
     instrument 
    =========================  ========================================= 
b)  Identification             ISIN for IGas Energy plc: GB00BZ042C28 
     code of 
     the Financial 
     Instrument 
    =========================  ========================================= 
c)  Nature                     Acquisition of Ordinary Shares in IGas 
     of the                     under SIP by the SIP Trustees pursuant 
     transaction                to the SIP 
    =========================  ========================================= 
d)  Price(s)                    Price                  Volume 
     and volume(s)              ---------------------  ----------------- 
                                      (i) GBP0.8180          (i) 1,650 
                                ---------------------  ----------------- 
                                      (ii) GBP0.8180         (ii) 1,650 
                                ---------------------  ----------------- 
                                      (iii) GBP0.8180        (iii) 1,650 
                                ---------------------  ----------------- 
    =========================  ========================================= 
e)   Aggregated                N/A 
      information 
       *    Aggregated volume 
 
 
       *    Price 
    =========================  ========================================= 
f)  Date of                    24 April 2018 
     the transaction 
    =========================  ========================================= 
g)  Place of                   London Stock Exchange, AIM 
     the transaction 
    =========================  ========================================= 
 

ENQUIRIES

For further information please contact:

IGas Energy

Tel: [phone]

Stephen Bowler, Chief Executive Officer

Julian Tedder, Chief Financial Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc

Tel: [phone]

Sara Hale

Jeremy Ellis

Canaccord Genuity

Tel: [phone]

Henry Fitzgerald-O'Connor

About the IGas SIP

In 2013, the Company adopted an Inland Revenue approved Share Investment Plan for all employees of the Group. The scheme is a tax efficient incentive plan pursuant to which all Company employees are eligible to subscribe for up to GBP150 (or 10% of salary, if less) worth of IGas ordinary shares per month. On a three-monthly basis, the Company matches employees' monthly subscriptions on a 1-to-1 basis and, subject to the Company having met pre-defined quarterly production targets, will increase the matching element for that quarter to 2-to-1. To receive their allocation of matching shares, employees must ordinarily remain employed by the Company for a period of 3 years. Shares issued under the SIP are held by the SIP Trustees.

Under the SIP, during the vesting period the recipient retains the voting rights and dividend rights associated with the matching allocation shares however, is unable to sell the shares until the vesting criteria have been fulfilled. The matching allocation shares will be issued to the Company's Employee Benefit Trust and held until vesting conditions have been met. The participant retains the full rights over any subscription shares.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 25, 2018 03:30 ET (07:30 GMT)