Independent Oil & Gas PLC PDMR Dealing & Issue of Equity (0475A)

TIDMIOG

RNS Number : 0475A

Independent Oil & Gas PLC

23 May 2019

23 May 2019

Independent Oil and Gas plc

PDMR Dealing / Issue of Equity

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 94,911 ordinary shares of 1 penny each ('Ordinary Shares') in the capital of the Company.

On 23 May 2019, a notice was submitted by Rupert Newall, a PDMR of the Company, to exercise 94,911 penny options over Ordinary Shares awarded to him, pursuant to a 'salary sacrifice' share option agreement dated 1 March 2019.

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 Thursday 30 May 2019. Following Admission, there will be 337,246,757 Ordinary Shares in issue with one voting right per Ordinary Share. 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.

Enquiries:

 
 Independent Oil and Gas plc 
  Andrew Hockey (CEO) 
  James Chance (CFO)            [phone] 
 finnCap Ltd 
  Christopher Raggett 
  Anthony Adams                 [phone] 
 Peel Hunt LLP 
  Richard Crichton 
  David McKeown                 [phone] 
 Vigo Communications 
  Patrick d'Ancona              [phone] 
 

Notes -

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 of 114 MMCF/d (c. 20,000 Boe/d) from its substantial Core Project (2P gas Reserves of 302 BCF) via an efficient hub strategy. In addition to the independently verified 2P reserves, IOG now has independently verified 2C contingent gas resources of 108 BCF in Goddard and best estimate unrisked prospective gas resources of 202 BCF in Harvey and Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns. All IOG's licences and the Thames Pipeline are owned 100% and operated by IOG.

Further information can be found on www.independentoilandgas.com

 
 .      Details of the person discharging managerial responsibilities/person 
         closely associated 
 (a)    Name                                       Rupert Newall 
       -----------------------------------------  -------------------------------------------- 
 2.     Reason for the notification 
       --------------------------------------------------------------------------------------- 
 (a)    Position/status                            Head of Corporate Finance (PDMR) 
       -----------------------------------------  -------------------------------------------- 
 (b)    Initial notification/                      Initial notification 
         Amendment 
       -----------------------------------------  -------------------------------------------- 
 3.     Details of the issuer 
       --------------------------------------------------------------------------------------- 
 (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 of                             Independent Oil & Gas plc Ordinary Shares 
         the Financial Instrument                   of 1p each 
       -----------------------------------------  -------------------------------------------- 
 (b)    Identification                             ISIN: GB00BF49WF64 
         code of the Financial 
         Instrument 
       -----------------------------------------  -------------------------------------------- 
 (c)    Nature of the transaction                  Exercise of Options over ordinary shares 
                                                    of 1 penny each in the Company 
       -----------------------------------------  -------------------------------------------- 
 (d)    Price(s) and volume(s)                     Price(s)               Volume(s) 
                                                  ---------------------  --------------------- 
                                                   1p                     94,911 
                                                  ---------------------  --------------------- 
 
 (e)    Aggregated information 
          *    Aggregated volume                     n/a 
 
 
         - Price 
       -----------------------------------------  -------------------------------------------- 
 (f)    Date of the transaction                    23 May 2019 
       -----------------------------------------  -------------------------------------------- 
 (g)    Place of the transaction                   London Stock Exchange, AIM Market (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.

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May 23, 2019 11:36 ET (15:36 GMT)