Independent Oil & Gas PLC Issue of New Shares and Director Shareholding (1333M)
April 26 2018 - 2:00AM
UK Regulatory
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
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