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IOG Iog Plc

2.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Iog Plc LSE:IOG London Ordinary Share GB00BF49WF64 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Independent Oil & Gas PLC Issue of New Shares and Director Shareholding (1333M)

26/04/2018 7:00am

UK Regulatory


Iog (LSE:IOG)
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TIDMIOG

RNS Number : 1333M

Independent Oil & Gas PLC

26 April 2018

26 April 2018

Independent Oil and Gas plc

Issue of New Shares and Director Shareholding

Independent Oil and Gas plc ('IOG' or the 'Company) (AIM: IOG.L), the development and production focused oil and gas company, has today issued a total of 2,933,946 ordinary shares ('New Ordinary Shares') in the capital of the Company.

On 25 April 2018, a notice was submitted by Mark Routh, the Chairman of the Company, to exercise 2,933,946 1p options over Ordinary Shares awarded to him, pursuant to a share option agreement dated 24 September 2013.

The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trade on AIM ('Admission'). Admission is expected to occur on 1 May 2018. Following Admission there will be 123,143,575 Ordinary Shares in issue. Accordingly, this number 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 FCA's Disclosure and Transparency Rules.

This exercise of options increases Mark Routh's holding in the Company from 4,303,010 Ordinary Shares, being 3.58% of the current number of shares in issue to 7,236,956 Ordinary Shares being 5.88% of the enlarged share capital of the Company.

Mark Routh has informed the Company that it his intention to hold this number of shares in IOG and will not sell down any shares in the Company in order to meet the personal tax liability that crystallises upon exercise of these options.

Mark Routh, Chairman of IOG commented:

"As a long-term shareholder in IOG, I am very excited about the Company's next steps to Final Investment Decision and then full development and production of the significant proven reserves in our portfolio of gas fields in the Southern North Sea."

 
 1.   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------------- 
 a)   Name                             Mark Routh 
---  -------------------------------  ---------------------------- 
 2.   Reason for the Notification 
---  ------------------------------------------------------------- 
 a)   Position/status                  Chairman/Director 
---  -------------------------------  ---------------------------- 
 b)   Initial notification/Amendment   Amendment 
---  -------------------------------  ---------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------------- 
 a)   Name                             Independent Oil and Gas plc 
---  -------------------------------  ---------------------------- 
 b)   LEI                              2138005OA2NLZS2NRT74 
---  -------------------------------  ---------------------------- 
 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                      Exercise of options over 
       of the Financial                 ordinary shares 
       instrument, 
       type of instrument 
--- 
      Identification                   GB00BF49WF64 
       code 
---  -------------------------------  ---------------------------- 
 b)   Nature of the                    Exercise of options 
       transaction 
---  -------------------------------  ---------------------------- 
 c)   Price(s) and                      Price(s)   Volume(s) 
       volume(s)                        ---------  ---------- 
                                         1p         2,933,946 
                                        ---------  ---------- 
---  -------------------------------  ---------------------------- 
 d)   Aggregated information:          n/a 
        *    Aggregated volume 
 
 
        *    Price 
---  -------------------------------  ---------------------------- 
 e)   Date of the                      26 April 2018 
       transaction 
---  -------------------------------  ---------------------------- 
 f)   Place of the                     London Stock Exchange, AIM 
       transaction                      Market (XLON) 
---  -------------------------------  ---------------------------- 
 

-ENDS-

Certain information communicated in this announcement was, prior to its publication, inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

 
 Independent Oil and Gas plc 
  Andrew Hockey (CEO)              +44 (0) 20 3879 
  James Chance (CFO)                0510 
 finnCap Ltd 
  Christopher Raggett / Anthony 
  Adams 
  (Corporate Finance) 
  Emily Morris / Camille Gochez    +44 (0) 20 7220 
  (Corporate Broking)               0500 
 Camarco 
  Georgia Edmonds / Tom Huddart    +44 (0) 20 3757 
  / Monique Perks                   4980 
 

About Independent Oil and Gas:

IOG owns substantial low risk, high value gas Reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio via an efficient hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All IOG's licences are owned 100% and operated by IOG.

Further information can be found on www.independentoilandgas.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

STREELFLVZFXBBZ

(END) Dow Jones Newswires

April 26, 2018 02:00 ET (06:00 GMT)

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