Independent Oil & Gas PLC PDMR Dealing & Issue of Equity (0475A)
24 May 2019 - 1:36AM
UK Regulatory
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) +44 (0) 20 3879 0510
finnCap Ltd
Christopher Raggett
Anthony Adams +44 (0) 20 7220 0500
Peel Hunt LLP
Richard Crichton
David McKeown +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona +44 (0) 20 7390 0230
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 rns@lseg.com or visit www.rns.com.
END
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