Independent Oil & Gas PLC Director & PDMR Dealing (7948H)
March 27 2020 - 3:00AM
UK Regulatory
TIDMIOG
RNS Number : 7948H
Independent Oil & Gas PLC
27 March 2020
27 March 2020
Independent Oil and Gas plc
Director & PDMR Dealing
Independent Oil and Gas plc ("IOG" or the "Company"), the
development and production company focused on becoming a
substantial UK gas producer, is pleased to announce that certain
Directors and persons discharging managerial responsibilities
("PDMRs") of the Company have purchased in the market 320,000
ordinary shares of 1p each at an average price of 11.87p per share
in the Company, equating to an aggregate value of GBP37,973.87.
Share purchases and revised shareholdings are shown below:
Director/Senior Role Number of Resultant Percentage
manager Ordinary number of of Enlarged
Shares Purchased Ordinary Share Capital
Shares held held directly
and by PCA
Andrew Hockey CEO 80,000 790,729 0.16%
------------------- ------------------ ------------- ---------------
Rupert Newall CFO 100,000 3,767,050 0.78%
------------------- ------------------ ------------- ---------------
Mark Hughes COO 100,000 693,770 0.14%
------------------- ------------------ ------------- ---------------
Head of Corporate
James Chance Finance & IR 40,000 165,000 0.03%
------------------- ------------------ ------------- ---------------
Following this purchase, Directors and PDMRs of the Company,
including Persons Closely Associated ("PCA") holds a total of
6,216,549 ordinary shares, representing 1.3% of the outstanding
share capital of the Company.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Hockey
----------------------------- ---------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer
----------------------------- ---------------------------------------
b) Initial notification Initial Notification
/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 of the Independent Oil & Gas plc Ordinary
financial instrument, Shares of 1p each
type of instrument
Identification code ISIN: GB00BF49WF64
b) Nature of the transaction Purchase of Ordinary Shares
----------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- ------------------ -------------------
11.8799p 80,000
---------------------------------- ------------------ -------------------
d) Aggregated information Aggregated price Aggregated volume
----------------------------- ------------------ -------------------
11.8799p 80,000
---------------------------------- ------------------ -------------------
e) Date of the transactions 26 March 2020
----------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
----------------------------- ---------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rupert Newall
----------------------------- ---------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------------- ---------------------------------------
b) Initial notification Initial Notification
/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 of the Independent Oil & Gas plc Ordinary
financial instrument, Shares of 1p each
type of instrument
Identification code ISIN: GB00BF49WF64
b) Nature of the transaction Purchase of Ordinary Shares
----------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- ------------------ -------------------
11.90p 50,000
---------------------------------- ------------------ -------------------
11.8799p 50,000
---------------------------------- ------------------ -------------------
d) Aggregated information Aggregated price Aggregated volume
----------------------------- ------------------ -------------------
11.89p 100,000
---------------------------------- ------------------ -------------------
e) Date of the transactions 26 March 2020
----------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
----------------------------- ---------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Hughes
----------------------------- ---------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Operating Officer
----------------------------- ---------------------------------------
b) Initial notification Initial Notification
/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 of the Independent Oil & Gas plc Ordinary
financial instrument, Shares of 1p each
type of instrument
Identification code ISIN: GB00BF49WF64
b) Nature of the transaction Purchase of Ordinary Shares
----------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- ------------------ -------------------
11.8p 100,000
---------------------------------- ------------------ -------------------
d) Aggregated information Aggregated price Aggregated volume
----------------------------- ------------------ -------------------
11.8p 100,000
---------------------------------- ------------------ -------------------
e) Date of the transactions 26 March 2020
----------------------------- ---------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
----------------------------- ---------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Chance
----------------------------- ----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Head of Corporate Finance & IR (PDMR)
----------------------------- ----------------------------------------
b) Initial notification Initial Notification
/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 of the Independent Oil & Gas plc Ordinary
financial instrument, Shares of 1p each
type of instrument
Identification code ISIN: GB00BF49WF64
b) Nature of the transaction Purchase of Ordinary Shares
----------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- ------------------- -------------------
11.95p 40,000
---------------------------------- ------------------- -------------------
d) Aggregated information Aggregated price Aggregated volume
----------------------------- ------------------- -------------------
11.95p 40,000
---------------------------------- ------------------- -------------------
e) Date of the transactions 26 March 2020
----------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
----------------------------- ----------------------------------------
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 +44 (0) 20 7036 1400
Andrew Hockey (CEO)
Rupert Newall (CFO)
James Chance (Head of Corporate Finance & IR)
finnCap Ltd +44 (0) 20 7220 0500
Christopher Raggett, Simon Hicks (Corporate Finance)
Camille Gochez (Corporate Broking)
Peel Hunt LLP +44 (0) 20 7418 8900
Richard Crichton
David McKeown
Vigo Communications +44 (0) 20 7390 0230
Patrick d'Ancona
Chris McMahon
Simon Woods
About IOG:
IOG owns and operates a 50% stake in substantial low risk, high
value gas reserves in the UK Southern North Sea. The Company's Core
Project targets a gross 2P peak production rate of 140 MMcfe/d (c.
24,000 Boe/d) from gross 2P gas Reserves of 302 Bcfe(1) + 2C gas
Contingent Resources of 108 Bcfe(2), via an efficient hub strategy.
In addition to the independently verified 2P reserves at Blythe,
Elgood, Southwark, Nailsworth and Elland and 2C Contingent
Resources at Goddard, IOG also has independently verified best
estimate gross unrisked prospective gas resources of 73 Bcfe(2) at
Goddard. Alongside this IOG has management estimated mid-case
recoverable gas volumes of 40 Bcfe and 100 Bcfe at the Harvey and
Redwell licences and continues to pursue value accretive
acquisitions to generate significant shareholder returns.
(1) ERC Equipoise Competent Persons Report: October 2017,
adjusted by Management to account for updated project timing and
compression
(2) ERC Equipoise Competent Persons Report: October 2018
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 rns@lseg.com or visit www.rns.com.
END
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