Issue of Equity and Total Voting Rights

RNS Number : 4092H

Diversified Gas & Oil PLC

15 November 2018

 

15 November 2018

Diversified Gas & Oil PLC

(the "Company")

Issue of Equity and Total Voting Rights

Diversified Gas & Oil PLC (AIM: DGOC), the US based gas and oil producer, announced on 2 November 2017 the award of Restricted Stock Units ("RSUs") issued under the Company's equity incentive plan (the "Plan") to certain of the Company's senior management who have been instrumental in the successful integration of the Company's recently acquired assets.  In accordance with the terms Plan 1/3rd of the RSU's have now vested and the Company has therefore issued and allotted an aggregate of 162,619 new ordinary shares of 1 pence each in the Company (the "RSU Shares") to the participants in the Plan.

The Company has also received notice of the exercise of warrants to subscribe for a total of 685,231 ordinary shares of 1 pence each (the "Warrant Shares") at a price of 65 pence per share.  The warrants were issued to Smith & Williamson at the time of Company's admission to trading on AIM in January 2017.

Application has been made for the RSU Shares and the Warrant Shares (together the "New Shares") to be admitted to trading on AIM which is expected to occur on or around 21 November 2018.  The New Shares rank pari passu in all respects with the Company's existing ordinary shares of 1 pence each ("Ordinary Shares").

Following the issue of the New Shares the Company will have 542,653,937 Ordinary Shares in issue.  No Ordinary Shares are held in treasury.  The figure of 542,653,937 may be used by the Company's shareholders as the denominator in 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Eric Williams, the Company's Chief Financial Officer, is one of the participants in the Plan and accordingly he will receive 38,855 RSU Shares.  Mr Williams' interest in the Company now comprises 38,855 Ordinary Shares, representing 0.01% of the Company's issued share capital, plus RSUs over a further 55,000 Ordinary Shares and share options over 1,750,000 Ordinary Shares.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Bradley G. Gray, Chief Operating Officer and Finance Director Eric Williams, Chief Financial Officer www.dgoc.com	+ 1 [phone]
Smith & Williamson Corporate Finance Limited (Nominated Adviser) Russell Cook Katy Birkin Ben Jeynes	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens Edward Haig-Thomas	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield	[phone]
Buchanan (Financial Public Relations) Ben Romney Chris Judd Henry Wilson [e-mail]	[phone]

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	Eric Williams
2	Reason for the notification
a)	Position/status	Chief Financial Officer/PDMR
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Diversified Gas & Oil PLC
b)	LEI	213800YR9TFRVHPGOS67
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 financial instrument, type of instrument	Restricted stock units constituting a right to acquire ordinary shares of 1p each
	Identification code	GB00BYX7JT74
b)	Nature of the transaction	Vesting of restricted stock units under the Company's equity incentive plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0	38,855
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	14 November 2018
f)	Place of the transaction	London Stock Exchange (XLON)

 

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