Independent Oil & Gas PLC Director/PDMR Shareholding (8943N)
03 February 2021 - 11:00PM
UK Regulatory
TIDMIOG
RNS Number : 8943N
Independent Oil & Gas PLC
03 February 2021
3 February 2021
Independent Oil and Gas plc
Director/PDMR Shareholding
Independent Oil and Gas plc ("IOG" or the "Company"), (AIM:
IOG.L), the UK gas company targeting high returns via an
infrastructure-led hub strategy, announces that, on 3 February
2021, Andrew Hockey, CEO of the Company, sold 120,000 ordinary
shares of 1 pence each in the Company ("Ordinary Shares") at a
price of 16.00 pence per Ordinary Share and then repurchased, into
his ISA, the same number of Ordinary Shares in the Company at an
average price of 16.35 pence per Ordinary Share to facilitate an
ISA transfer (the "Transfer").
Following the Transfer, Andrew Hockey and persons closely
associated interests remain unchanged in 790,729 Ordinary Shares,
representing approximately 0.16% per cent. of the Company's voting
rights.
Further information is set out in the PDMR disclosure table
below.
Enquiries:
Independent Oil and Gas plc
Andrew Hockey (CEO)
Rupert Newall (CFO)
James Chance (Head of Corporate Finance & IR) +44 (0) 20 7036 1400
finnCap Ltd
Christopher Raggett
Simon Hicks +44 (0) 20 7220 0500
Peel Hunt LLP
Richard Crichton
David McKeown +44 (0) 20 7418 8900
Vigo Communications
Patrick d'Ancona
Chris McMahon
Simon Woods +44 (0) 20 7390 0230
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 21 Bcfe at Harvey. In December 2020 IOG
also accepted a 50% operated stake in Licence P2589, containing the
Panther and Grafton gas discoveries with management estimated 46
Bcfe and 35 Bcfe respectively. In addition IOG continues to pursue
value accretive acquisitions to help 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
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
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 Sale of Ordinary Shares
------------------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- --------------------- --------------------
16. 00 p 120,000
------------------------------------------ --------------------- --------------------
d) Aggregated information Sale of 120,000 Ordinary Shares at
16p per Ordinary Share
------------------------------------- -------------------------------------------
e) Date of the transactions 3 February 2021
------------------------------------- -------------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
------------------------------------- -------------------------------------------
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)
------------------------------------- --------------------- --------------------
16.22 p 60,000
------------------------------------------ --------------------- --------------------
16.48p 60,000
------------------------------------------ --------------------- --------------------
d) Aggregated information Purchase of 120,000 Ordinary Shares
at an average of 16.35p per Ordinary
Share
------------------------------------- -------------------------------------------
e) Date of the transactions 3 February 2021
------------------------------------- -------------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
------------------------------------- -------------------------------------------
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